6G Market

Global 6G Market Size (2024 to 2029)

The size of the global 6G market is predicted to reach USD 9.18 billion in 2024 and USD 39.96 billion by 2029, growing at a CAGR of 34.2% during the forecast period.

6G may significantly affect how businesses work, function, and manipulate our network structures as it will lead to the evolution of all the different technologies. 6G’s promise is constructed on sensing, which is prime to interacting with the bodily surroundings and simulating them, extending to independent vehicles, intelligent factories, precision healthcare, and many more. Developers might be keen to leverage 6G’s expected attributes if available today. In addition to extraordinary statistics charges and low latency, 6G will offer steady reliability, agility, and dynamic insights to guide new and modern programs in wireless connectivity, cognition, sensing, and imaging.

Global 6G Market Drivers:

As the world evolves, it becomes more interconnected and dependent on digital technologies. Consequently, there is a rising demand for faster and more dependable networks to cater to various applications. The need for high-speed and dependable internet connection is anticipated to increase swiftly as it caters to various purposes, such as streaming high-quality media, facilitating instant communication, and supporting emerging advancements like self-driving cars and intelligent urban environments. The need for ultra-fast and dependable connectivity is projected to increase significantly as it streams high-quality content, facilitates instant communication, and supports emerging technologies like autonomous vehicles and smart cities.

The demand for data-heavy applications and emerging technologies like AR, VR, and the IoT is driving the growth of the G6 market. 6G networks can potentially revolutionize our lives, work, and play. From healthcare to transportation, manufacturing to entertainment, industries can take advantage of the ultra-fast, low latency, and massive connectivity that 6G networks offer. This can lead to enhanced efficiency, productivity, and immersive experiences. Additionally, 6G can open new business models to help businesses and consumers make more money and grow their bottom lines. The key is to make the most of 6G and use it to create new opportunities and disrupt traditional industries.

Global 6G Market Restraints:

6G infrastructure requires heavy equipment, spectrum usage, and network deployment costs. It also necessitates extensive planning, coordination, and collaboration between network operators, governments, and technology providers. Implementing 6G networks may also raise regulatory issues and necessitate new standards and protocols. All these above factors might act as a restraining factor towards the newly emerging 6G market demand.

Impact of COVID-19 on the global 6G market:

While the COVID-19 pandemic affected businesses all around the world, it had a positive impact on the 6G market. The world saw various technological advancements and the rise of modern AI that required high-speed and non-interruptive internet connection, thus raising the demand of the 6G market. This helped IT businesses expand and brought out a massive change in the gaming sector.

REPORT COVERAGE:

This research report on the global 6G market has been segmented and sub-segmented based on the verticals, application, deployment devices, and region.

Global 6G Market - By Verticals:

• Manufacturing

• Agriculture

• Automotive

• Educational & Entertainment

• Health

• Public Safety

The manufacturing section ranks with the highest 6G market share within the forecast period.  With the arrival of 6G technology, manufacturing industries are set to go through a sizable transformation. The integration of 6G networks revolutionizes production strategies, permitting improved automation, connectivity, and information exchange. The manufacturing IoT is predicted to play a pivotal position in this sector, permitting seamless verbal exchange among machines, devices, and systems. The use of 6G networks helps real-time tracking and management of production operations, optimizing manufacturing efficiency, lowering downtime, enhancing ordinary productivity, and implementing superior technology, including AI, robotics, and AR, in manufacturing strategies to further drive the segment’s expansion.

Global 6G Market - By Application:

• Multi-Sensory Extended Reality

• Network-Enabled Robotic & Autonomous Systems

• Blockchain

• Distributed & Communications

• Internet Of Everything

• Digital Twins

• Smart Cities

• Wireless Brain-Computer Interactions

• Others

By application, the multi-sensory extended reality segment is leading with the largest share of the 6G market. It will produce severe game-converting programs for 6G during the AR/ MR/ VR spectrum. Due to their incapacity to acquire very low latencies for data-fee in-depth XR programs, upcoming 5G structures will nevertheless fall short of presenting a completely immersive XR revel that captures all sensory inputs. A completely immersive AR/ MR/ VR reveals the necessity of a collaborative layout that consists of additional perceptual desires derived from human senses, cognition, and physiology.

Global 6G Market - By Deployment Device:

• Mobile Phones

• Tablets

• Wearables

• IoT devices

• Others

The mobile phones section is anticipated to record the highest market share of the 6G market throughout the forecast period.  As the next technology, 6G intends to revolutionize the smartphone by handing over extraordinary connectivity, speed, and abilities. With 6G networks, mobile phones can provide ultra-rapid download and add speeds, seamless streaming of excessive definition content, and lag-unfastened gaming experiences. Moreover, 6 G’s low latency and excessive reliability permit superior functionalities, including AG, VR, and immersive multimedia experiences. The mobile phone segment is ready to witness substantial growth as producers incorporate 6G abilities into their devices, empowering customers with more desirable connectivity and a wide variety of modern features. The developing call for excessive overall performance smartphones coupled with the predicted rollout of 6G networks creates positive surroundings for the smartphone section to dominate the 6G market in the next few years.

Global 6G Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America is anticipated to record the highest market share of the 6G market within the forecast period. The region’s dominance may be attributed to various factors contributing to its robust function in adopting and growing superior technologies. North America is home to principal telecom industry startups, well-known agencies, and revolutionary startups. These corporations are at the leading edge of 6G research, development, and deployment, propelling growth and improvements within the G6 market. In addition, North America boasts an advanced infrastructure, along with significant community insurance and high-speed internet connectivity, laying a solid basis for enforcing G6 networks. The supportive authorities' projects and favorable regulatory guidelines make a contribution to the expansion of the 6G market in the North American region.  Asia Pacific is next to North America in holding the prominent 6G market share, whereas Europe's 6G market growth will hit the highest CAGR by the end of 2028. Increasing investments and rising per capita income are significant factors for the market's growth in the Asia Pacific.

KEY MARKET PARTICIPANTS:

The major companies operating in the global 6G market include AT&T, Cisco, Broadcom, DeepSig, Ericsson, Fujitsu, Google, Huawei, InterDigital, Keysight, LG Corporation, Nokia, Media Tek, NTT DoCoMo, and Orange.

RECENT HAPPENINGS IN THE MARKET:

• In March 2023, to permit studies on new community technology, the Indian authorities introduced the respectable 6G testbed venture in addition to India’s 6G mission that anticipates a centered initiative for the next technology generation in India. The authorities have shaped a top-tier committee to supervise the Bharat 6G initiative.

• In November 2022, Ericsson, a networking system producer, stated that it would make contributions of thousands of pounds to 6G cell studies in Britain, taking part with universities on initiatives concerning hardware security, AI and cognitive networks, and quantum computing.

• In April 2021, the German authorities introduced plans to offer USD 833 million in financing for research into 6G technology by 2025.