The global next-generation communication devices market is anticipated to grow at a considerable CAGR of 20.0% during the forecast period. Developments in the defense sector have a significant impact on the Next-generation Communication Devices Market. The defense industry's focus on research, innovation, and technology development leads to the creation of cutting-edge communication technologies. Many of these advancements eventually transition into the commercial market, driving the creation of next-generation communication devices for various industries and consumers. For instance,
Browse the full report description of “Next-generation Communication Devices Market Size, Share & Trends Analysis Report by Technology (5G, Visible Light Communication/ Li-Fi, Wireless Sensor Networks (WSN), and Others) and by End-User Industry (Manufacturing, Military & Defense, Automotive, Transportation, and Others) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/next-generation-communication-devices-market
• In June 2023, the Pentagon contracted with SpaceX's Starlink to provide satellite communication capabilities for Ukraine to aid its military in the ongoing war with Russia. The contract details, including the price, scope, and timeline, have not been disclosed for operational security reasons. Starlink has been providing Ukraine with internet service since the beginning of the war in 2022. This contract highlights the importance of satellite communication capabilities in supporting Ukraine's defense efforts.
• In April 2023, Lockheed Martin has been selected as the preferred bidder for Project JP9102, a multi-billion dollar initiative to provide the Australian Defence Force with a sovereign military satellite communications system. The company has assembled a team of Australian companies to deliver ground and control segments for the project. The company has also partnered with the Victorian Government to create more than 200 advanced space industry jobs in the region. Being selected as the preferred bidder means that Lockheed Martin will move into the next phase of negotiations with the Australian government.
• In February 2023, Quasar Satellite Technologies awarded a $5.3 million Defence Innovation Hub contract for space communications and space domain awareness. The contract will allow Quasar to further develop its capabilities in the field of space communications and contribute to space domain awareness efforts. The funding secured by Quasar Satellite Technologies also includes a separate $6 million funding announcement.
• In June 2022, The Pentagon plans to spend nearly $13 billion over the next five years to develop and acquire military communications satellites. This investment will support the growing demands for connectivity and secure data networks across the U.S. armed forces and national security agencies. The spending plan includes funding for the Pentagon's first-ever low Earth orbit broadband constellation and smaller numbers of bespoke communications satellites to augment or replace existing systems.
Market Coverage
• The market number available for – 2023-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Technology
o By End-User Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Cisco Systems Inc., Huawei Device Co., Ltd., Netgear Inc., Philips, and Ericsson AB, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Next-Generation Communication Devices Market Report Segment
By Technology
By End-User Industry
Global Next-Generation Communication Devices Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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