The Global 6G market Size is valued at 7.47 billion in 2030 and is predicted to reach 159.54 billion by the year 2035 at a 127.16% CAGR during the forecast period for 2031-2035.
6G, the sixth generation of mobile communication technology, is yet to be standardized, and its exact specifications are unknown. Several factors impact the 6G market, such as technological advancements, the growing demand for fast and reliable connectivity, the emergence of smart cities and the (IoT), and the expansion of data-driven applications and services. The 6G market drivers also need improved security, higher bandwidth, lower latency, and better energy efficiency.
Moreover, the development of innovative applications and use cases, including telemedicine, autonomous vehicles, and virtual and augmented reality, is projected to fuel the growth of the 6G market. The need for more standardization in 6G technology poses a significant challenge that may hinder interoperability between various networks and devices.
However, the high cost associated with developing and deploying 6G infrastructure could also slow its adoption and restrict its accessibility, particularly in developing nations. Additionally, based on the projected trends and technological advancements, it is good to assume that they incorporate various features and technologies such as (IoT), (AI), and (VR/AR). These applications are expected to be supported by 6G networks, which are predicted to have more advanced capabilities than their previous generations.
Recent Developments:
- In Nov 2021, the Department of Telecommunications organized an Innovation Development Group for 6G (TIG-6G) with members from various government departments, research institutions, academia, standardization bodies, telecommunications service providers, and industry to develop a vision, mission, and objectives for 6G, as well as a roadmap and action plans for its implementation in India.
Competitive Landscape:
Some of the 6G market players are:
- Apple Inc
- AT&T Inc.
- Cisco Systems, Inc.
- Google LLC
- Huawei Technologies Co., Ltd.
- Intel Corporation
- LG Corporation
- MediaTek Inc.
- Nippon Telegraph and Telephone Corporation
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- SK Telecom
- Sony Corporation
- Telefonaktiebolaget LM Ericsson
- T-Mobile US, Inc
- Verizon Communications Inc
- ZTE Corporation
Market Segmentation:
The 6G market is segmented based on devices, communication infrastructure and end users. Based on devices, the market is segmented as mobile devices, IoT and edge-computing devices, networking devices and others. The market is bifurcated by communication infrastructure into wireless infrastructure and fixed infrastructure. Based on end users, the 6G market is segmented as consumer applications and industrial and enterprise.
Based On End-User Users, The Consumer Applications Segment Is A Major Contributor To The 6G Market
The consumer applications category will hold a major share of the global 6G market in 2022. The 6G mobile communication technology would improve access to vital information, resources (both physical and digital), and social services without time constraints. The broad adoption of this technology would provide alternatives to rural migration and metro-driven urbanization, eliminating differences in regional infrastructure, social conditions, and economic opportunities.
The Communication Infrastructure Segment Witnessed Growth At A Rapid Rate
The communication infrastructure segment is projected to grow rapidly in the global 6G market. The patterns of earlier generations, which introduced novel services with the implementation of new technology, will continue with the 6G system. Among the new services are AI, smart wearables, implants, driverless cars, augmented reality gadgets, sensing, and 3D mapping. The crucial requirement for 6G wireless networks is managing large amounts of data and providing high-data-rate connections per device.
The North America 6G Market Holds A Significant Regional Revenue Share
The North America 6G market is expected to register the highest market share. The significant presence of key players, government initiatives, and various other factors drive growth in this region. The US is leading the way in advancing the latest communication technology wave. In addition, the Asia Pacific regional market is projected to grow rapidly in the global 6G market. The area is witnessing growth owing to the increasing significance of satellite communication and advancements in this field.
China's launch of the first 6G test satellite has significantly increased market demand. Moreover, India's Minister of Communication has announced their plans to introduce 6G technology by 2024. The availability of a higher frequency spectrum has made it possible for 6G networks to offer high-speed network access.
6G Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2030 |
USD 7.47 Bn |
|
Revenue forecast in 2035 |
USD 159.54 Bn |
|
Growth rate CAGR |
CAGR of 127.16% from 2031 to 2035 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2031 to 2035 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2031-2035 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Devices, Communication Infrastructure And End Users |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Apple Inc., Nokia Corporation, AT&T Inc., T-Mobile US, Inc., Verizon Communications Inc., Intel Corporation, Huawei Technologies Co., Ltd., LG Corporation, Cisco Systems, Inc., and Sony Corporation, among others. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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