Market Overview:
The global 6G market demonstrates significant growth potential over the next decade. The rising demand for reliable ultra-latent connectivity and high data transmission speed to revolutionize business models will support market growth. According to Market Research Future (MRFR), the global 6G market is projected to garner USD 340 BN by 2040, registering a 58.1% CAGR throughout the review period (2031-2040).
Most countries are taking up initiatives to drive 6G developments and investing a significant amount of time funds to become a leader in the 6G space. Besides, the demand for high bandwidth required for the seamless performance of connected devices and advances in 6G technologies with game-changing speeds nationwide coverage would boost 6G market revenues.
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6G, the 5G cellular technology successor, will enable higher frequencies than 5G. With its improved throughput and higher data rates, 6G will advance the development of wireless sensing technology. Mobile edge computing built into 6G networks will improve communications and computation infrastructure framework. As 6G technology becomes operational, it will improve access to AI capabilities and support for mobile devices and systems.
Major Players
Active market players include Samsung Electronics, Huawei, Nokia, Cisco, AT T, Ericsson, LG Electronics, Qualcomm, Ciena, Microsoft, HPE, Intel, Telnyx, Apple, and Google.
Global 6th Generation Telecom Technology Market - Segmentations
The market is segmented into component, communication infrastructure, device usage, end-user, and region. The component segment is sub-segmented into infrastructure/hardware, software, and services (professional and managed services). Similarly, the communication infrastructure segment is sub-segmented into wireless (mobile cellular, mobile broadband) and fixed broadband.
The device usage segment is sub-segmented into mobile devices, networking devices, IoT edge-computing devices, and others. The end-user segment is sub-segmented into government, consumer, industrial, and enterprise. The region segment is sub-segmented into the Asia-Pacific, Americas, MEA, Europe, and the rest of the world.
Global 6G Market - Geographical Analysis
North America will dominate the global 6G market, witnessing huge technology upgrades and a vast user base. The presence of several notable 6G technology providers will impact the market growth positively, continuing their research to improve 6G technology and the performance of related solutions, components, and equipment. Also, government initiatives and support to speed up 6G research and rollout will boost the market size.
Moreover, the 6G frequencies' allocation by the Federal Communications Commission (FCC) will escalate the market value. Similarly, various telecom companies in the region, alongside the rising use of the latest technologies and connected devices, will continue to accelerate market shares.
A number of smart cities in this region, expected to witness technology enhancement and upgrades, promote the need for high-speed networks more. Additionally, government initiatives to expand 6G applications into defense and manufacturing will substantiate revenues of the regional market.
Global 6G Technology Market – Competitive Landscape
The market appears to be highly competitive, despite the availability of 6G is yet to become a reality. Although there are a handful of 6G technology and service providers currently, the market also appears to be fragmented due to significant investments and ongoing researches in making 6G data transmission successful with increased distance records.
Leading telecom companies are working on the development of wireless communication technologies to support cellular data networks. At the same time, mobile device manufacturing companies are working on exploring possibilities of developing 6G compatible devices with capabilities of the wireless transmission and reception of 6G THz data over a longer distance outdoors.
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Industry/ Innovation/ Related News
Nov. 09, 2022 --- Keysight Technologies, Inc., a leading technology company, announced a collaboration with NOKIA Bell Labs to accelerate 5G-advanced and 6G communications. Nokia will use Keysight's sub-Terahertz (THz) test bed to verify and improve the performance of 5G advanced and 6G transceiver (TRX) modules.
These modules use RFIC technology, including transceivers, power amplifiers, and antennas, to support the extreme data throughput and reliable backhaul transmission required for 5G advanced and 6G. Keysight delivers advanced designs validation solutions to help accelerate innovations in connectivity and security. Working with Keysight will enable Nokia to make significant progress in developing next-generation wireless technology.
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