USD 3.79 Billion
6G Market Size, Share, Growth Analysis, By Vertical(Agriculture, Automotive, Educational and entertainment, Health), By Application(Multi-Sensory Extended Reality, Networked Enabled Robotic and Autonomous Systems, Blockchain, Distributed Sensing & Communications and Others), By Deployment Device(Smartphones, Tablets, Wearables, Internet of Things (IoT) Devices and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2352 |
Region:
Global |
Published Date: August, 2024
Pages:
210
|Tables:
95
|Figures:
71
6G Market Insights
Global 6G Market size was valued at USD 3.79 Billion in 2022 poised to grow from USD 5.1 Billion in 2023 to USD 54.62 Billion by 2031, growing at a CAGR of 34.5% in the forecast period (2024-2031).
The 6G network is expected to provide 100 times more energy and volumetric spectral efficiency than the 5G network. The extensive interconnection makes the 6G infrastructure quite challenging. Global mobile data traffic is expected to increase by 55% annually between 2020 and 2030. Traffic growth is predicted to generate 5,016 exabytes (EBs) of data each month by 2030. This enormous amount of data, along with powerful processing and learning powers, can be used to control the network at different stages.
A combination of societal needs and technological advancements that improve those needs would be the primary forces behind the generational leap beyond current mobile communication technologies in order to meet all of these demands and future ambitions. When combined, these factors present a strong argument for the upcoming directions in wireless networks. The intelligence, dependability, scalability, and security of conventional mobile networks are surpassed by 6G mobile technology capabilities. They will make it possible to integrate satellite communication to create a mobile network everywhere, meeting the need for a truly global wireless network presence.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Manufacturing
Fastest Growth
Education and Entertainment
Growth Rate
34.5% CAGR
Global 6G Market ($ Bn)
Country Share by North America (%)
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6G Market Segmental Analysis
The Global 6G Market is segmented based on Vertical, Application and Deployment Device. Based on Vertical, the market is grouped into Agriculture, Automotive, Educational and Entertainment, Health, Manufacturing, Public Safety and Others. Based on the Application, the market is segmented into Multi-Sensory Extended Reality, Networked Enabled Robotic and Autonomous Systems, Blockchain, Distributed Sensing & Communications and Others. Based on Deployment Device, the market is grouped into Smartphones, Tablets, Wearables, Internet of Things (IoT) Devices and Others. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and Middle East & Africa.
Analysis by Vertical
As per categorization by vertical, the market is classified as agriculture, automotive, educational and entertainment, health, manufacturing, public safety and others. Among these, manufacturing earned the largest share and continues to dominate the market. Thanks to developments in AI, IoT, and automation technologies, the global 6G market is seeing a rapid innovation in manufacturing. Smart factories and production efficiency are enhanced by these advancements. Since it calls for dependable data transmission, minimal delay, and quick connections for operations that take place at once hence the recording of decisions taken when manufacturing is doing these things.
According to the forecast, the global 6G market will witness the highest growth in the education and entertainment sector as demand for immersive experiences and interactive content increases. Improved connectivity will enhance real time collaboration and virtual classrooms set up apart from HD video streaming. This will make learning and entertainment more engaging and available to people all over the world.
Analysis by Deployment Device
With improvements in processing power, AI integration, and improved networking features, smartphones are leading the way in substantial innovation in the global 6G market. Their market leader status is due to the fact that they have wide-ranging use and adaptability which enables them to realize high speeds in data transfer, immersive experiences and unhindered connection; all these conditions are needed for actualizing the complete potentials of 6G technology.
There is high hopes that IoT devices are going to be the most rapidly expanding sector in the global 6G market. In addition to autonomous systems, the expansion of 6G connectivity opens up opportunities for better scalability, real-time data processing and seamless communication which will lead to smarter cities and advanced industrial automation solutions.
Global 6G Market By Vertical (%)
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6G Market Regional Insights
Geographically, North America is expected to hold the largest share of the 6G market due to the region's significant concentration of significant businesses, government initiatives, and other factors. The US is lagging behind other countries in advancing the next wave of communication technologies. The US industry organization dedicated to positioning North America as the world leader in 6G networks appointed executives from AT&T and Ericsson as their heads. In addition to jobs, education, and finances, Canadians also depend on web connection to improve their health hence the need for affordable high-quality services is necessary.
The Asia Pacific is predicted to grow most in the 6G market due to the region's increasing focus on satellite communication and the developments within this sector. As a result, the first 6G test satellite ever launched has made China’s market need surge enormously. In order to develop a Vision, Mission, and Goals for 6G, as well as a roadmap and action plans for 6G in India, the Department of Telecommunications recently established a Technology Innovation Group on 6G (TIG-6G) with members from various Ministries/Departments, research and development institutions, academia, standardization bodies, telecom service providers, and industry.
Global 6G Market By Geography
- Largest
- Fastest
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6G Market Dynamics
Drivers
- Growing Need for Extremely Fast and Dependable Connectivity
A growing need for high-definition content streaming all over the world has made ultra-high-speed and dependable connectivity a must. This will lead to more real-time communication and that’s how we get autonomous vehicles or smart cities. 6G technology targets this demand by providing speeds never seen before at unrealistically low latency levels and uninterrupted connectivity leading to market disruptions while enhancing the digital experience for both business and consumer.
- Unlocking New Business Models and Innovation
Ultra-fast speeds, low latency, plus vast connectivity capabilities of the sixth-generation networks have facilitated transformative applications and services. Moreover, new business models may emerge because of deploying sixth-generation technology creating new sources of revenue and stimulating economic growth. The opportunity lies in leveraging 6G technology to its fullest potential to stimulate innovation.
Restraints
- 6G Technological Complexity
The shift from current wireless technologies to 6G necessitates the intricate integration of numerous technologies, including new networking protocols, AI, and machine learning. This might result in market expansion being restricted in the long run due to development and deployment delays caused by technological complications on manufacturers and service providers.
- Limited Awareness and Understanding
Lack of knowledge about this technology by the consumers and enterprises can make it hard for them to embrace 6G. This ignorance about the potential benefits, applications, and consequences of 6G could make stakeholders hesitant to invest in or move towards 6G, so affecting the growth of the market and innovation.
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6G Market Competitive Landscape
The global 6G market is highly competitive, with major competitors vying for market share through cutting-edge research and development. Major global enterprises are investing heavily in 6G technology to enhance network functionality, allow for revolutionary applications and enhance connectivity. Such companies include Huawei, Ericsson, Nokia, Samsung and Qualcomm. Partnerships or alliances are also common in this regard since firms want to leverage their skills to promote the development of AI, IoT and telecommunication for future 6G networks.
Top Player’s Company Profiles
- AT&T (US)
- Broadcom (US)
- Cisco (US)
- DeepSig (US)
- Ericsson (Sweden)
- Fujitsu (Japan)
- Google (US)
- Huawei (China)
- InterDigital (US)
- Keysight (US)
- LG Corporation (South Korea)
- MediaTek (Taiwan)
- National Instrument Corp (US)
- NEC Corporation (Japan)
- Nokia (Finland)
6G Key Market Trends
- Tech Companies Unveiling Groundbreaking 6G Prototype: Samsung unveiled its latest 6G prototype technology during an international telecom conference. This prototype shows advances in mobile networking such as improved signal processing and integration with AI-based analytics. Through these innovations, Samsung hopes to enhance network performance and pave the way for future commercialization and deployment of 6G.
- Holographic Communication Immersive Interactions in the 6G Era: The concept of holographic communication, which points to a shift towards more immersive and interactive communication techniques, is one noteworthy development in the 6G industry. 6G imagines a world where people may engage in lifelike holographic meetings or share experiences in augmented reality places, all without having to rely on traditional communication channels.
6G Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, to summarize, the impending introduction of 6G technology holds the potential to completely transform mobile communication by offering far higher energy and spectrum efficiency than that of 5G. Due to both societal needs and technological advancements, reliable connectivity is becoming increasingly important as the amount of mobile data traffic worldwide increases.
Growth in important market sectors, such as industry and education, is anticipated due to advances in IoT and AI. North America holds the largest market share, while Asia Pacific is growing quickly, especially in satellite communication. Adoption could be hampered, though, by issues like low awareness and sophisticated technology. All things considered, 6G is ready to open new commercial opportunities and revolutionary applications in a variety of industries.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.79 Billion |
| Market size value in 2031 | USD 54.62 Billion |
| Growth Rate | 34.5% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on 6G Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on 6G Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 6G Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 6G Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 6G Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 6G Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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