6G Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, and Services); By Infrastructure; By Application; By End-User; By Region; Segment Forecast, 2024- 2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM3890
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global 6g market was valued at USD 5.6 billion in 2023 and is expected to grow at a CAGR of 27.76% during the forecast period.
In the realm of 6G, the boundaries between the digital, physical, and humans will dissolve, giving rise to extraordinary sensory encounters. Intelligent knowledge systems, coupled with advanced computational power, will exponentially enhance human efficiency, reshaping our lifestyles and professions. Despite ongoing innovations in 5G, exemplified by the latest 5G-Advanced standards, Nokia Bell Labs has embarked on early-stage research for 6G, with a vision to bring it to commercial fruition by 2030.
Product innovations, technological advancements, and the introduction of regulatory policies have been detailed in the report to enable businesses to make more informed decisions. Furthermore, the impact of the COVID-19 pandemic on the 6G Market demand has been examined in the study. The report is a must-read for anyone looking to develop effective strategies and stay ahead of the curve.
To Understand More About this Research: Request a Free Sample Report
6G technology will further advance sustainability on multiple fronts. Facilitating swifter and more cost-effective connectivity per unit of data will empower the seamless data collection and closed-loop control of a myriad of devices. This data can then be analyzed with sophisticated tools, leading to enhanced energy efficiency across industries. Moreover, the introduction of highly advanced multi-sensory telepresence, enabled by exceptionally high data rates, will diminish the necessity for physical travel.
This will be achieved through the implementation of multi-modal mixed reality telepresence and remote collaboration, thus significantly reducing carbon emissions associated with transportation. For instance, in February 2023, Nokia, in collaboration with Japanese firms NTT Docomo and NTT, disclosed that they have successfully reached two significant technological milestones in the progression towards forthcoming 6G systems.
Moreover, high infrastructure cost is one of the factors hindering the growth of the 6G market. Implementing 6G will require a substantial overhaul of existing telecommunications infrastructure. This includes deploying new base stations, upgrading hardware, and ensuring backward compatibility with previous generations, all of which come at a significant cost.
Additionally, economic and geopolitical factors can also influence the pace of 6G development and adoption. Trade tensions, political instability, and economic recessions can all impact the resources and investments available for 6G research and deployment.
Growth Drivers
- Increasing demand for ultra-high-speed connectivity is projected to spur the product demand.
As data-intensive applications become more prevalent, there is a growing need for even faster and more reliable wireless connectivity. 6G, with its potential to offer terabit-per-second speeds will meet this demand.
Further, technologies like quantum computing, AI, and advanced materials are expected to be integral components of 6G. Their development and integration will drive the growth of 6G technology.
Moreover, the proliferation of IoT devices in various industries, from smart cities to healthcare, will necessitate a more robust and responsive network. 6G's hyperconnectivity and ultra-low latency make it well-suited for handling massive IoT deployments.
Report Segmentation
The market is primarily segmented based on component, infrastructure, application, end-user, and region.
|
By Component |
By Infrastructure |
By Application |
By End-User |
By Region |
|
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Component Analysis
- Software segment is expected to witness highest growth during the forecast period
The software segment is projected to grow at a CAGR during the projected period. The software segment in 6G will be instrumental in enabling the advanced capabilities and functionalities that this next-generation network promises. From intelligent network management to security enhancements and immersive experiences, software-driven innovations will be at the forefront of shaping the 6G landscape.
By Infrastructure Analysis
- Wireless segment accounted for the largest market share in 2022
The wireless segment accounted for the largest market share in 2022 and is likely to retain its 6g market position throughout the forecast period. The wireless segment in 6G is poised to experience a revolution in terms of speed, connectivity, and capabilities. These advancements will not only transform how we communicate but will also underpin a wide range of industries and applications, from healthcare to smart cities, ushering in a new era of technological possibilities.
Also, 6G is expected to offer data speeds up to 100 times faster than 5G. This remarkable increase in speed will revolutionize how data is transmitted, enabling a wide range of applications that were previously impractical.
Further, 6G is set to facilitate the interconnection of an unprecedented number of devices, leading to a massive expansion of the Internet of Things. This hyperconnectivity will have a profound impact on various industries, from healthcare to smart cities.
By Application Analysis
- Blockchain segment held the significant market revenue share in 2022
The blockchain segment held a significant market share in revenue share in 2022. The blockchain in 6G is poised to play a crucial role in enhancing security, privacy, transparency, and efficiency within the network. Its integration will facilitate trust among users and devices, enabling a wide range of applications and services in the next generation of wireless technology.
Further, blockchain technology provides a secure and decentralized ledger system, making it ideal for safeguarding sensitive data and transactions in 6G networks. This heightened security will be vital for protecting critical communications.
By End-User Analysis
- Automotive segment held the significant market revenue share in 2022
The automotive segment held a significant market share in revenue share in 2022. The automotive segment in 6G is poised for transformative growth, revolutionizing how vehicles communicate, navigate, and interact with their environment. The integration of 6G technology will drive advancements in autonomous driving, vehicle safety, entertainment, and overall transportation efficiency.
6G's ultra-low latency, reducing communication delay to as little as one millisecond is critical for enabling real-time communication between vehicles and infrastructure. This is vital for applications like autonomous driving and collision avoidance systems.
Regional Insights
- North America region dominated the global market in 2022
The North America region dominated the global market with the largest market share in 2022 and is expected to maintain its dominance over the anticipated period. The growth of the segment market can be largely attributed due to technological leadership, advanced R&D ecosystem, and government support.
North America has a history of being at the forefront of technological innovation. The region is home to many leading technology companies and research institutions, which are likely to drive the development and deployment of 6G.
The adoption of cutting-edge technologies like 6G can enhance economic competitiveness. North American businesses and industries may prioritize the early adoption of 6G to gain a competitive edge in global markets.
Moreover, this region has a robust research and development ecosystem, including universities, laboratories, and technology companies. This infrastructure is well-positioned to drive innovation and the development of 6G technologies.
Further, government policies and initiatives also play a crucial role in fostering the adoption of 6G. Regulatory frameworks that encourage investment in next-generation technologies can accelerate the deployment of 6G networks.
The Asia-Pacific region is expected to witness the highest growth during the forecast period. In September 2023, the Next G Alliance by the Alliance for Telecommunications Industry Solutions (ATIS) and India's Bharat 6G Alliance entered into a Memorandum of Understanding (MoU) to jointly investigate potential collaborations in the realm of 6G wireless technologies.
This cooperative effort will involve coordinating research and development focuses to advance a shared 6G vision and establish secure and reliable telecommunications networks, along with robust supply chains. Moreover, countries such as China, Japan, South Korea, and India play crucial roles in the development and advancement of 6G technology.
Key Market Players & Competitive Insights
The 6G market is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- Apple Inc.
- AT&T Inc.
- China Mobile
- HPE
- Huawei Technologies Co. Ltd
- Intel Corporation
- Jio Infocomm Ltd
- LG Electronics
- MediaTek
- Nokia
- NTT Docomo Inc.
- Samsung Electronics
- Sony Corporation
- T-Mobile Inc.
- Verizon Communication Inc.
Recent Developments
- In October 2023, Huawei secured vital patents related to 6G technology, potentially positioning the Chinese company for success in the upcoming 6G era.
- In August 2023, Jio’s Chairman, Mr. Mukesh Ambani announced that Jio is set to be one of the earliest global players in the development of 6G capabilities.
6G Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 7.19 billion |
|
Revenue forecast in 2032 |
USD 50.76 billion |
|
CAGR |
27.76% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments covered |
By Component, By Infrastructure, By Application, By End-User, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
We strive to offer our clients the finest in market research with the most reliable and accurate research findings. We use industry-standard methodologies to offer a comprehensive and authentic analysis of the 6G market. Besides, we have stringent data-quality checks in place to enable data-driven decision-making for you.
Browse Our Top Selling Reports
Radiation Oncology Market Size, Share 2024 Research Report
Surgical Robots Market Size, Share 2024 Research Report
Orthodontic Supplies Market Size, Share 2024 Research Report
Oncology Information Systems Market Size, Share 2024 Research Report
Hospital Capacity Management Solutions Market Size, Share 2024 Research Report
© 2024 Polaris Market Research and Consulting. All rights reserved
