New York, USA, Aug. 22, 2023 (GLOBE NEWSWIRE) -- 6G Market Summary:
6G Market Research Report Information by Component, By Communication Infrastructure, By Application, By End User and By Region – Forecast till 2040, the market is expected to account for USD 13,690.9 million in 2030 and is expected to surpass USD 340,510.2 million by 2040, exhibiting a CAGR of 28.10% during the forecast period (2031 - 2040).
6G Market Scope:
6G technology is anticipated to evolve as a new version of the global mobile standard in the future years, adding new capabilities to 5G and 4G/LTE services. Initially, the market is being driven by the increasing demand for 6G communication across industries and the emphasis on low latency networks for specific applications. The 6G network is anticipated to provide a 100-fold increase in energy and volumetric spectral efficiency compared to the 5G network. Due to the extensive interconnections, the 6G infrastructure will be extremely challenging to implement.
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Competitive Dynamics:
Key Companies in the 6G Market include:
- Nokia
- Samsung Electronics
- Huawei Technologies Co. Ltd.
- Telefonaktiebolaget Lm Ericsson
- Qualcomm Technologies, Inc.
- At&T Inc.
- Lg Electronics
- Hpe
- Ntt Docomo Inc.
- Zte Corporation
- Jio Infocomm Ltd.
- Keysight Technologies
- T-Mobile
- Ciena Corporation
- Intel Corporation
Scope of the Report – 6G Market:
| Report Metrics | Details |
| Market Size by 2040 | USD 340,510.2 Million |
| CAGR during 2031-2040 | 28.10% |
| Base Year | 2022 |
| Forecast | 2031-2040 |
| Key Market Opportunities | Usage Of Holography In Communication |
| Key Market Dynamics | Growing need for 6G communication High emphasis on low latency network for specific applications Capitalizing on the latest technological advancements |
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6G Market Segmentation:
- By Component - Due to the vastly different configurations of access points and mobile terminals, the hardware segment is propelling the market. MIMO will be upgraded from 5G to 6G, which may necessitate a more complex design.
- By Communication Infrastructure - During the period under consideration, it is anticipated that the wireless market will experience significant growth. It is anticipated that the 6G system will provide simultaneous wireless connectivity 1,000 times faster than 5G. Future 5G wireless networks will lay the groundwork for intelligent networks that support AI operations.
- By Application - XR will generate numerous game-changing AR/MR/VR applications for 6G across the spectrum. Future 5G systems will fall short of providing a fully immersive XR experience that captures all sensory inputs due to their incapacity to achieve extremely low latencies for data-rate intensive XR applications. Government agencies are rapidly adopting 5G technology to improve the pace and precision of their operations.
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Market USP:
Market Drivers
Several factors influence the 6G market, including technological advancements, the rising demand for rapid and reliable connectivity, the emergence of smart cities and the Internet of Things (IoT), and the growth of data-driven applications and services. The drivers of the 6G market also require enhanced security, increased bandwidth, decreased latency, and enhanced energy efficiency.
Eventually, 6G will have an even greater impact on how we conduct business, administer and manage community infrastructures, and live, just as all other technologies will. Sensing is essential for interacting with the physical environment and simulating it, which extends to autonomous vehicles, smart factories, and precision healthcare, among other applications. If 6G were available today, developers would be anxious to exploit its anticipated features. 6G will provide secure reliability, agility, and dynamic insights to support new and innovative wireless connectivity, cognition, sensing, and imaging applications.
In addition, the development of innovative applications and use cases, such as telemedicine, autonomous vehicles, and virtual and augmented reality, is anticipated to fuel the expansion of the 6G market. Moreover, based on the anticipated trends and technological advancements, it is reasonable to infer that they incorporate a variety of features and technologies, such as (IoT), (AI), and (VR/AR). These applications are anticipated to be supported by 6G networks, which are anticipated to have more sophisticated capabilities than their predecessors.
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Market Limitations
The requirement for additional standardization in 6G technology is a significant obstacle that may hinder the interoperability of diverse networks and devices. However, the high cost of developing and deploying 6G infrastructure may hinder its adoption and accessibility, particularly in developing countries.
COVID-19 Analysis:
The introduction of 6G technology could address the desired quality and upgrade in the current post-pandemic environment in order to attain quality smart city outcomes. Particularly, this could be brought forward as a result of this new COVID-19-society, which has already disrupted the momentum of wireless technology installation and application. The current "pause" allows for reevaluation of investments and priorities in light of the significant at-home, self-isolated society that has resulted in workplace changes in developed nations. This new COVID-19-society has significantly increased the use of the Internet at home, while fixed office Internet access has drastically decreased.
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Regional Analysis:
Geographically, North America is anticipated to account for the largest share of the 6G Market due to the region's concentration of significant companies and government initiatives, among other factors. The United States lags behind when it comes to promoting the next iteration of communication technology. Executives from AT&T and Ericsson were elected to oversee a US industry body's initiative to promote North America as a leader in 6G networks.
Due to the region's increased emphasis on satellite communication and advancements in this industry, the Asia-Pacific region is projected to have the highest growth in the 6G Market. China has launched the world's first 6G test satellite, resulting in a significant increase in market demand.
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