Richmond, Jan. 09, 2024 (GLOBE NEWSWIRE) -- According to a research report "6G Market”, by Deployment Device (Smartphones, Tablets, Wearables, IoT devices, Others), Application (Multi-sensory extended reality, Networked enabled robotic and autonomous systems, Blockchain, Distributed sensing and communications, Others), Vertical (Agriculture, Automotive, Educational and entertainment, Healthcare, Manufacturing, Public safety, Others) and Region - Global Forecast to 2030" published by MarketDigits, the 6G market was valued USD 6.5 Billion in 2023 and projected to reach USD 60.1 Billion by 2030, growing at a CAGR of 37.4% during the forecast period of 2023-2030.
Global 6G Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 6.5 Billion |
| Market size value in 2030 | USD 60.1 Billion |
| CAGR (2023-2030) | 37.4% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Deployment Device, Application, Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on 6G Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global 6G market is poised to revolutionize the telecommunications landscape by introducing unprecedented speeds, ultra-low latency, and advanced capabilities. As the next generation of wireless technology, 6G is expected to play a vital role in shaping the overall ecosystem by powering emerging technologies such as the Internet of Things (IoT), augmented reality (AR), virtual reality (VR), and beyond. With data transfer speeds anticipated to be in the terabits per second range and latency reduced to near-instantaneous levels, 6G holds the potential to transform industries, enabling real-time applications, smart infrastructure, and enhanced connectivity on a global scale.
The market's significance lies in its ability to fuel innovation across diverse sectors, from healthcare and manufacturing to transportation and entertainment. By providing a robust foundation for cutting-edge technologies, 6G is poised to benefit the industry by unlocking new possibilities for automation, remote surgeries, immersive experiences, and more. The seamless integration of 6G into the technological fabric of societies worldwide is expected to drive economic growth, foster digital transformation, and open avenues for novel applications, solidifying its position as a key driver of the future digital landscape.
Major Vendors in the Global 6G Market:
- AT&T
- Broadcom
- Cisco
- DeepSig
- Ericsson
- Fujitsu
- Huawei
- InterDigital
- Keysight
- LG Corporation
- MediaTek
- National Instrument Corp
- NEC Corporation
- Nokia
- NTT DoCoMo
- Orange
- Qualcomm
- Reliance Jio
- Samsung
- SK Telecom
- Sony
- T-Mobile
- Verizon
- China Mobile
- ZTE
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Demand for Ultra-Reliable Low-Latency Communication (URLLC)
One of the key drivers propelling the global 6G market is the increasing demand for Ultra-Reliable Low-Latency Communication (URLLC). URLLC is a critical aspect of 6G technology, aiming to provide ultra-low latency, high reliability, and massive connectivity. Industries such as healthcare, autonomous vehicles, and industrial automation require real-time communication with minimal delay to ensure the seamless operation of critical applications.
In healthcare, for instance, 6G's URLLC capabilities can enable remote surgeries conducted by robotic systems, demanding extremely low latency to ensure precision and avoid any delay in control signals. Similarly, autonomous vehicles heavily depend on instant communication for real-time decision-making, and 6G's URLLC can significantly enhance the safety and efficiency of such systems.
Market Dynamics
Drivers:
- Increasing demand for ultra-high-speed and low-latency communication
- Growing dependence on connected devices and Internet of Things (IoT)
- Advancements in artificial intelligence and machine learning applications
- Escalating need for seamless and reliable communication in critical sectors like healthcare and autonomous vehicles
Opportunities:
- Development of innovative applications and services requiring ultra-fast and reliable connectivity
- Expansion of 6G technology in emerging markets and regions with limited existing infrastructure
- Collaboration and partnerships between technology companies, governments, and research institutions
- Enhanced capabilities for mission-critical applications in industries such as manufacturing, energy, and defense
Rising Need for Terahertz (THz) Communication:
Another major driver for the global 6G market is the escalating demand for Terahertz (THz) communication. 6G is expected to utilize THz frequency bands to enable unprecedented data transfer speeds, supporting applications that require massive data processing capabilities. The THz spectrum offers significantly higher bandwidth compared to existing frequencies, making it instrumental for handling the vast amounts of data generated by emerging technologies such as augmented reality (AR), virtual reality (VR), and holographic communication.
The integration of THz communication in 6G networks opens up possibilities for immersive and data-intensive applications. For instance, in AR and VR applications, high-speed THz communication ensures a seamless and lifelike user experience by enabling the rapid exchange of large volumes of data. Additionally, THz frequencies facilitate the development of holographic communication, allowing users to interact with realistic holograms in real-time, further driving the demand for 6G technology.
In summary, the global 6G market is being driven by the increasing need for URLLC in critical industries and the rising demand for THz communication to support data-intensive applications, marking a significant leap in wireless communication capabilities.
Asia-Pacific dominates the market for 6G.
As of the latest assessments, Asia-Pacific (APAC) stands out as the dominating region in the global 6G market, with China leading the way in 6G research, development, and deployment. China has been investing heavily in 6G technology, aiming to establish itself as a global leader in the next-generation wireless communication standard. With major players like Huawei, ZTE, and China Mobile actively involved in 6G initiatives, China is positioning itself at the forefront of the 6G landscape.
India is emerging as a country with high growth potential in the 6G market. With a rapidly growing population and an increasing focus on digital transformation, India is likely to become a significant player in the adoption of 6G technology. The government's initiatives to promote research and development in the telecommunications sector, coupled with a thriving startup ecosystem, create a conducive environment for 6G innovation.
Brazil is another country with promising growth prospects in the 6G market. The South American giant is investing in advanced communication technologies to support its growing digital economy. As 6G presents opportunities for enhanced connectivity and new applications, Brazil's strategic focus on technology and innovation positions it as a key player in the evolving global 6G landscape.
In conclusion, while Asia-Pacific, led by China, currently dominates the global 6G market, India and Brazil are emerging as countries with high growth potential, driven by their commitment to technological advancements and digital transformation.
The manufacturing Segments is anticipated to hold the Largest Market Share during the Forecast Period
The manufacturing segment is poised to dominate the 6G market, holding the largest share during the forecast period. With an increasing reliance on advanced technologies, the manufacturing sector is at the forefront of adopting 6G connectivity. This dominance is driven by the sector's demand for ultra-fast and reliable communication, real-time data processing, and seamless automation. As 6G evolves, manufacturers are expected to leverage its capabilities to enhance production efficiency, streamline supply chain operations, and enable innovative applications like remote monitoring and control. The pivotal role of the manufacturing segment underscores the transformative impact of 6G on industrial processes, positioning it as a key driver of the next generation of wireless communication technologies.
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