6g Market Size, Share, Growth Analysis, By Usage (Further-Enhanced Mobile Broadband, Extremely Low-Power Communications), By Application (Fully Automated Driving, Industry 5.0), By Communication, By End Use, By Region - Industry Forecast 2024-2031

Global 6g Market size was valued at USD 4.3 billion in 2022 and is poised to grow from USD 6.4 billion in 2023 to USD 63.8 billion by 2031, growing at a CAGR of 33.3% during the forecast period (2024-2031). 

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. 'Apple Inc. (United States) ', 'AT&T Inc. (United States) ', 'Cisco Systems, Inc. (United States) ', 'Ericsson AB (Sweden) ', 'Huawei Technologies Co., Ltd. (China) ', 'LG Electronics Inc. (South Korea) ', 'Nokia Corporation (Finland) ', 'Orange S.A. (France) ', 'Qualcomm Incorporated (United States) ', 'Samsung Electronics Co., Ltd. (South Korea) ', 'SK Telecom Co., Ltd. (South Korea) ', 'Verizon Communications Inc. (United States) ', 'NTT DoCoMo, Inc. (Japan) ', 'Jio Platforms Limited (India) ', 'Bharti Airtel Limited (India) ', 'Vodafone Group Plc. (United Kingdom) ', 'Deutsche Telekom AG (Germany) ', 'China Mobile Limited (China) ', 'Telefonica S.A. (Spain) ', 'China Unicom (Hong Kong) Limited (Hong Kong) '

Growing Need for Extremely Fast and Dependable Connectivity

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.

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.