Global 6G Market Size Anticipated to Reach $40.2 Billion By 2030, Growing at a CAGR of 34.2% - Report by MarketsandMarkets™

Chicago, June 30, 2023 (GLOBE NEWSWIRE) -- The global 6G Market size from USD 5.1 billion in 2023 to USD 40.2 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 34.2% during the forecast period, according to a new report by MarketsandMarkets™. The need for advanced network infrastructure with ultra-low latency and massive device connectivity to enable transformative use cases across industries is propelling the development and adoption of 6G technology.

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180 - Tables
49 - Figures
211 - Pages

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Scope of the Report

In the rapidly evolving digital landscape, the 6G market is poised to revolutionize connectivity and unlock a multitude of possibilities. As the world anticipates the next generation of wireless technology, the demand for ultra-high-speed and reliable connectivity has become a driving force behind the growth of the 6G market. Investors and industry players recognize the immense potential of the 6G market, fueling increased investments in research and development.

Based on application, distributed sensing and communications to hold the largest market size during the forecast period

The application of distributed sensing and communications is projected to hold the largest market size in the 6G market during the forecast period. With the advent of 6G technology, distributed sensing and communications are expected to grow significantly and find extensive applications in smart cities, healthcare, transportation, and environmental monitoring. The implementation of 6G networks enables seamless connectivity between a wide range of sensors, devices, and systems, allowing for efficient data collection and transmission, leading to enhanced situational awareness, improved decision-making processes, and the ability to respond swiftly to changing conditions. In industries such as transportation, distributed sensing, and communications can enable intelligent traffic management, predictive maintenance of infrastructure, and optimized resource allocation.

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Based on vertical, manufacturing to hold the largest market size during the forecast period

The manufacturing sector is poised to dominate the 6G market during the forecast period, holding the largest market size. With the rapid advancement of 6G technology, manufacturing companies increasingly recognize its transformative potential to revolutionize their operations. Integrating 6G networks in the manufacturing industry promises enhanced connectivity, ultra-low latency, and high bandwidth, enabling real-time data exchange and seamless communication between machines, processes, and systems.

Manufacturers are driven by the need for increased productivity, efficiency, and agility, and 6G is expected to be a key enabler in achieving these goals. The deployment of 6G networks in manufacturing facilities facilitates advanced automation, robotics, and machine learning applications, leading to optimized production processes, reduced downtime, and improved quality control.

Based on region, North America is expected to hold the largest market size during the forecast period.

North America is projected to hold the largest market size during the forecast period. The region's dominance can be attributed to factors such as major technology companies, strong investment in research and development activities, and a high level of technological adoption across various industries. North America's strong focus on technological advancements and digital transformation initiatives across various sectors, including healthcare, automotive, manufacturing, and entertainment, further propels the adoption of 6G technologies. The region’s supportive regulatory environment and favorable government policies also contribute to the growth of the 6G market.

Top Trends in Global 6G Market

• The vast number of linked devices that 6G is anticipated to support will allow for seamless communication and interaction between diverse systems and devices. The development of IoT applications in fields including smart cities, driverless vehicles, industrial automation, and healthcare is projected to be facilitated by 6G.
• Compared to its predecessors, 6G is anticipated to offer much faster speeds, possibly reaching terabit-per-second data rates. Additionally, ultra-low latency is a goal of 6G, which will shorten the time it takes for data to be transmitted. New applications requiring high bandwidth and real-time responsiveness, such immersive gaming, augmented reality (AR), and virtual reality (VR), will be made possible by these characteristics.
• 6G networks are projected to be heavily reliant on artificial intelligence (AI). 6G networks can optimise resource allocation, improve network efficiency, and offer intelligent services by combining AI algorithms and machine learning techniques. Intelligent data analytics, context-aware networking, and intelligent network management are some examples of functionalities that may be powered by AI.
• Higher-frequency bands, including as terahertz frequencies, are anticipated to be investigated by 6G. New applications and services are made possible by these frequency' wider bandwidths and faster data rates. Terahertz frequency deployment and management, however, provide technological difficulties that must be resolved, such as signal attenuation and propagation constraints.
• With regards to environmental sustainability, 6G networks are anticipated to address energy efficiency and lessen their carbon footprint. Network optimisation, intelligent power management, and energy harvesting technologies will probably all be used to create greener, more sustainable networks.

Key Industry Development

• The technical viability, prospective use cases, and needs for 6G networks are being actively investigated by academic institutions, research organisations, and industrial participants. These initiatives involve establishing 6G initial architectural frameworks, creating proof-of-concept systems, and performing experimental trials. Future 6G standards are also starting to be laid out by industry consortiums and standardisation organisations like the International Telecommunication Union (ITU).
• Collaborations and partnerships amongst various stakeholders are essential given the complexity of 6G technology and its broad range of applications. In order to pool resources, share information, and advance collaborative efforts towards the development of 6G, industry stakeholders, network operators, technology providers, and academic institutions are forging alliances and partnerships. These partnerships foster innovation, advance the sharing of knowledge, and quicken the pace of research.
• We may anticipate additional technological experiments and demonstrations in real-world settings as 6G technology develops. These tests are intended to check the functionality of 6G systems, evaluate various use cases, and pinpoint potential problems and solutions. They also offer insightful information that will help the technology be further developed and improved.
• At both the national and international levels, policy and regulatory concerns will be necessary for the development and implementation of 6G networks. In order to address concerns about spectrum allocation, privacy and security, infrastructure development, and equal access to 6G services, governments and regulatory organisations are likely to hold discussions and consultations. The 6G market will be significantly shaped by policy frameworks and regulations, and its responsible and sustainable growth will be ensured.
• Industry participants are actively planning for future market prospects even if the commercial deployment of 6G networks is still many years away. The demand for 6G services as well as prospective business models, monetization techniques, and customer desires are being evaluated by network operators, device makers, and service providers. Additionally, they are planning for seamless transitions and interoperability while taking 6G's cohabitation with current network technologies into account.

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