The Global 6G Market is Estimated to Touch USD 1.04 Billion in 2028 and is expected to reach USD 40.99 Billion by 2032 with a CAGR of 150.4% over the Forecast Period.
Global 6G Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2032- Soaring massive developments and increasing advancements in the next-generation networks are some of the major factors expected to drive the growth of the Global 6G Market.
A conceptual wireless network mobile communication technology which is well-known as the sixth-generation mobile communication technology i.e., 6G. It is basically the successor to 5G cellular technology. In telecommunications, 6G is presently under development for wireless communications technologies encouraging cellular data networks. To support one microsecond-latency communication is one of the aims of the 6G internet. 6G networks are expected to provide more diverse capabilities than their predecessors and are more than likely to encourage applications beyond recent mobile applications, such as virtual and augmented reality (VR/AR), AI, and the Internet of Things (IoT).
The global 6G market encountered several growth obstacles owing to the covid-19 outbreak and has shown mixed impact on the market. Furthermore, the 6G market has been slightly hindered by a halt in the supply chain, and many more factors. Nonetheless, growing developments in IoT and digitalization have optimistically impacted the growth of the 6G market.
The global 6G market can be segmented based on product, end-use, and region & country level. Based on product, the global 6G market is segmented into device and communication infrastructure. On the basis on devices, the market is sub-segmented into mobile devices, IoT and edge-computing devices, networking devices and others. In addition, based on communication infrastructure, the market is sub-segmented in to wireless and fixed. Based on end-use, the 6G market is segmented into consumer, industrial and enterprise.
The regions covered in this global 6G market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global 6G is subdivided into the U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players for the global 6G market are:
On January 17th, 2022; Samsung Electronics collaborated with Korea University to establish a department dedicated to the research and development of next-generation technologies such as 6G.
On February 19th, 2021; Apple hired engineers to start working on the next generation of wireless technology. 6G, so it starts relying on itself rather than using Qualcomm tech.
On July 8th, 2021; The University of Texas at Austin launched a 6G research center with the support of major wireless industry players, including AT&T, Samsung and Qualcomm.
On June 18th, 2019; South Korea’s SK Telecom, which was among the first mobile operators to launched 5G services alongside its domestic peers KT and LG Uplus, it had signed agreements with Ericsson, Nokia, and Samsung Electronics for joint research and development in advanced 5G and 6G mobile network technologies.
On December 23rd, 2021; LG Electronics announced to demonstrate the results of its R&D efforts towards 6G communications at Korea Science & Technology Fair 2021, which is held at KINTEX in Goyang, Gyeonggi Province.
6G is too early in the development phase to have factual information on its technologies or its capabilities. Even as brand-new 5G technology has still to create a foothold across the world, the U.S. and China already are running to improve the further step in high-speed communications: “a 6G network”. The proliferating development and adoption of 6G across the world are one of the leading factors fueling market growth worldwide. For example; in accordance with South China Morning Post, in January 2022, China claimed to have made a breakthrough in 6G mobile technology. On February 1st, 2022; Vietnam is focusing on the development of 6G to get ahead of the improvement curve and improve its digital infrastructure with emphasis on Cloud Computing, Digital Platform, and As Service. Apart from the above instances, Telecom tech developers from Japan and Finland had proposed to work collaboratively on the improvement of 6G technologies. Manifold companies, governments, and businesses are concentrating on the development of 6G. Such enormous new advancements are anticipated to boost the overall growth of the 6G market globally.
In addition, increasing advancements in the next-generation networks is another factor anticipated to supplement the overall the growth of the 6G market. Each internet user’s communications invention has resulted in an exponential increase in the amount of information that humans generate, store, and share. All data and information are being transferred through communication networks. 6G is designed to offer, at least, 20 times more wide-area ability than 5G. Moreover, the 6G user-experiences data rate, which is projected to attain 1,000 Mbps, is ten times speedier than the user-experienced data rate of 5G. Owing to so many advantages, a number of countries across the world are inclining towards 6G. For example; in March 2019, in the United States, the Federal Communications Commission (FCC) made experimental licenses available in the 95 gigahertz (GHz) to 3 terahertz (THz) range, considerably beyond the current spectrum open to 5G. In addition to the above, the FUTURE Networks Act, authorized by the US House of Representatives in December 2021, would produce a 6G Task Force to evaluate the status of the industry-led bodies working on 6G standards. The development of the 6G network is skyrocketing and hence it is expected to foster the whole market in upcoming years.
Apart from the aforementioned optimistic factors, the high investment required for the 6G network may fundamentally hamper the growth of the 6G market all over the world. In spite of this, massive growth in IoT, blockchain, and artificial intelligence can more dynamically generating a plethora of opportunities for the further growth of the global 6G market.
Geographically, North America is expected to account for the largest share of 34.8% in the global 6G market owing to the huge presence of key players, government initiatives, and many more factors in this region. The U.S. is behind the curve when it arrives to promote the next generation of communication technologies. Executives from AT&T and Ericsson had been voted to lead a US industry body’s endeavor to establish North America as a leader in 6G networks. In October 2020, the Alliance for Telecommunications Industry Solutions (ATIS) launched a ""Next G Alliance"", an alliance containing Ericsson, AT&T, Telus, T-Mobile, Verizon, Samsung, Microsoft, and others that ""will advance North American mobile technology leadership in 6G and outside over the next decade. All the above factors are expected to foster the growth of the global 6G market in this region in the future.
The Asia Pacific is expected to show the fastest growth in the global 6G market due to the increasing emphasis on satellite communication and advancements in this field in this region. China has introduced the world’s first 6G test satellite into orbit which is significantly making the market in demand. For example; on November 6th, 2020, China successfully launched an experimental test satellite for 6G technology into orbit with candidates, along with around 12 other satellites, using a Long March 6 launch vehicle rocket. Also, the Minister for Communication of India announced that India is looking to launch 6G Tech by 2024. However, 6G networks are proficient in offering high-speed network access by developing a higher frequency spectrum; high throughput satellite communication services are also implemented to attain pervasive coverage in remote and isolated areas. China is considered responsible for almost half a percentage of the global 6G patent filings followed by other countries.
|Historical data||2015 - 2020|
|Forecast Period||2022 - 2032|
|Market Size in 2028:||USD 1.04 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2032:||USD 40.99 Billion|
|Tables, Charts & Figures:||175|
|6G Companies||Apple Inc., Nokia Corporation, AT&T Inc., T-Mobile US, Inc., Verizon Communications Inc., Google LLC, Intel Corporation, Huawei Technologies Co., Ltd., LG Corporation, Samsung Electronics Co., Ltd., Cisco Systems, Inc., Sony Corporation, others|
|Segments Covered||By Product, By End-Use|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa
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