According to a recent report by Juniper Research, telecommunications operators have the potential to earn an additional $17 billion in revenue between 2024 and 2030 by providing 3GPP-compliant 5G satellite networks. The report emphasizes the need for Satellite Network Operators (SNO) to form partnerships with telecom operators in order to launch and sustain profitable satellite-based 5G services. SNOs are seen as the primary entities capable of deploying and maintaining next-generation satellites.
The analysts predict that the first commercial launch of a 5G satellite network will occur in the coming year, with over 110 million 3GPP-compliant 5G satellite connections expected by 2030. The advent of 5G connectivity is considered a major milestone in the advancement of mobile data transfer. Although there are currently existing 5G networks based on 4G infrastructure, they are unable to fully harness the potential of next-generation connectivity. The establishment of true 5G, commonly referred to as Standalone 5G, is eagerly awaited by various industries and consumers alike.
Apart from the obvious advantages of faster speeds, reduced latency, and improved capacity, 5G technology offers enhanced connectivity in crowded areas as well as wider coverage and range, particularly in rural and sparsely populated regions. Additionally, 5G networks are designed to be more energy-efficient, leading to a reduction in the carbon footprint of wireless communication infrastructure. This technology plays a crucial role in the development of the Internet of Things (IoT) by facilitating the integration of industrial sensors, smart city endpoints, and connected cars.
Furthermore, 5G is seen as a catalyst for innovation, allowing organizations to explore new possibilities in augmented reality, virtual reality, and robotics. Its status as a globally recognized standard ensures that endpoints and infrastructure can be standardized, enabling seamless interoperability.
The emergence of 5G satellite networks presents lucrative opportunities for telecom operators, who can leverage this technology to drive significant revenue growth in the coming decade.