The 5G NTN market is projected to grow from USD 3.2 billion in 2022 to USD 16.1 billion by 2027, at a CAGR of 38.2% during the forecast period. Mining companies are implementing the latest automation technologies to improve their operations.
For instance, Boliden, a Swedish mine operator, partnered with Ericsson to build an autonomous gold mine where Ericsson installed the 5G network at the mining site, and also the increasing need to support vessels with high data rates for applications, such as video and data file transfer, is driving the demand for 5G NTN solutions.
By platform, LEO satellite to register higher CAGR during the forecast period
LEO is emerging as a preferred solution to develop a 5G NTN system to enhance network coverage and offer ample opportunities to bridge the connectivity divide. Countries in the Middle East & Africa, such as Saudi Arabia and Abu Dhabi, are leveraging the capabilities of LEO technology to their vision for 2030.