The global size of the 6G market reached USD 5.09 billion in 2023, projecting a growth rate of 33.9% from 2024 to 2032. The revenue forecast for 2032 is expected to reach $70.43 billion.
The sixth-generation mobile communication technology, or 6G, is a hypothetical wireless network technology. It is essentially the 5G cellular technology’s replacement. In the field of telecommunications, 6G is currently being developed for wireless technologies that support cellular data networks. One of the goals of the 6G internet is to provide communication with a one-microsecond latency. The Internet of Things, artificial intelligence (AI), and virtual and augmented reality (VR/AR) are just a few examples of applications that are projected to be supported by 6G networks, which are anticipated to offer more capabilities than their predecessors (IoT).
The COVID-19 epidemic caused various growth challenges for the global 6G business, and its effects on the market have been conflicting. A stoppage in the supply chain, among other things, has also marginally hampered the 6G market. However, expanding IoT and digitalization trends have positively benefited the development of the 6G industry.
Since NTT Docomo declared 2030 to be the year when 6G would be introduced, the 6G market has not yet begun. The development of 5G spectrums and the move from 4G to 5G are presently the main priorities for all telecommunications firms that make up the largest stakeholder in the 6G market. The majority of companies, including smartphone manufacturers, semiconductor vendors, smart technology vendors, and other significant technology-oriented companies, are concentrating on developing applications for the 6G spectrum because the focus on 6G is currently restricted to research and development. These use cases include satellite communication, holographic communication, driverless vehicles, smart cities, and edge devices. These improvements are anticipated to accelerate the creation of complementary 6G technologies, which will ultimately have a significant impact on the 6G market.
At this point in its development, 6G’s technology and capabilities cannot be known with certainty. Even though the globe has yet to adopt cutting-edge 5G technology, the United States and China are actively working to advance “a 6G network,” the next step in super-fast communications. One of the key drivers of global market growth is the spread of 6G technology and its widespread adoption. For instance, according to the South China Morning Post, China declared to have reached a breakthrough in 6G mobile technology in January 2022. Vietnam will begin concentrating on the development of 6G on February 1st, 2022, to stay ahead of technological advancements and upgrade its digital infrastructure with a focus on Cloud Computing, Digital Platforms, and AS services. In addition to the examples mentioned above, telecom technology developers from Finland and Japan advocated collaborating to advance 6G technologies. Numerous organizations, organizations, and enterprises are focusing on the development of 6G. It is projected that such significant new developments would accelerate the global 6G market’s overall growth.
Another factor projected to support the overall growth of the 6G industry is the ongoing development of next-generation networks. The amount of information that people produce save, and share has exponentially increased as a result of each internet user’s innovation of communications. Communication networks are used to transfer all data and information. The wide-area capability of 6G is expected to be at least 20 times greater than that of 5G. Additionally, the user-experienced data rate of 6G, which is anticipated to reach 1,000 Mbps, is 10 times faster than that of 5G. Due to its many benefits, 6G is becoming increasingly popular worldwide. For instance, the Federal Communications Commission (FCC) in the United States released experimental licenses in the 95 GHz to 3 THz range in March 2019, which is much above the spectrum that is currently accessible for 5G. A 6G Task Force would be created by the FUTURE Networks Act, which was approved by the US House of Representatives in December 2021, to assess the progress of the industry-led organizations developing 6G standards. The entire market is anticipated to grow in the next years due to the 6G network’s explosive expansion.
In addition to the positive aspects, the substantial investment needed for the 6G network could seriously impede the expansion of the 6G industry globally. Despite this, the rapid development of the Internet of Things, blockchain technology, and artificial intelligence might dynamically generate a wide range of chances for the expansion of the global 6G market.
The global 6G market can be segmented based on product, end-use, and region & country level.
- Based on product, the global 6G market is segmented into device and communication infrastructure.
- Based on devices, the market is sub-segmented into mobile devices, IoT and edge-computing devices, networking devices, and others.
- In addition, based on communication infrastructure, the market is sub-segmented into wireless and fixed.
- Based on end-use, the 6G market is segmented into consumer, industrial, and enterprise.
- Based on region, the 6G Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa.
The 6G market is studied across North America, Europe, Asia Pacific, Latin America the Middle East, and Africa.
Geographically, North America is anticipated to hold the greatest portion of the worldwide 6G market, with a share of 34.8%, due to the region’s significant concentration of important players, government initiatives, and a host of other reasons. When promoting the newest wave of communication technology, the U.S. is lagging. The initiative to position North America as a leader in 6G networks will be spearheaded by executives from AT&T and Ericsson, according to a US industry association. The Alliance for Telecommunications Industry Solutions (ATIS) announced the creation of the “Next G Alliance” in October 2020. This grouping of companies includes Ericsson, AT&T, Telus, T-Mobile, Verizon, Samsung, Microsoft, and others, and its goal is to “promote North American mobile technology leadership in 6G and outside over the next ten years.” The aforementioned elements are anticipated to encourage the expansion of the worldwide 6G market in this area in the coming years.
Due to the region’s growing emphasis on satellite communication and technological breakthroughs related to this sector, the Asia Pacific is predicted to experience the highest growth in the worldwide 6G market. The first 6G test satellite launched into orbit by China has greatly increased market demand. For instance, on November 6, 2020, China used a Long March 6 launch vehicle rocket to successfully place approximately 12 additional satellites as well as an experimental test satellite for 6G technology into orbit. Additionally, the Indian Minister of Communication declared that India aims to introduce 6G technology by 2024. However, the development of a higher frequency spectrum makes 6G networks capable of providing high-speed network access. High-throughput satellite communication services are also used to achieve widespread coverage in rural and isolated places. Nearly 50% of all 6G patent applications worldwide are attributed to China, with the remaining filings coming from other nations.
List of the prominent players in the 6G Market:
- Samsung Electronics
- LG Electronics
Key Benefits of the Global 6G Market Report:
- The report offers a comprehensive historical and forecast analysis of the Global 6G Market.
- It provides detailed information on the Market Introduction, Market Summary, Global Market Revenue (in USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country-level insights.
- The report aids in identifying opportunities within the marketplace.
- Extensive analysis of emerging trends and the competitive landscape is covered in the Global 6G Market report.
- Mobile Devices
- Edge-Computing Devices
- Networking Devices
By Communication Infrastructures
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA