Market Research Future (MRFR) announces the publication of its half-cooked research report—Global 6G Market, 2031-2040.
Global 6G Market is projected to grow at a CAGR of 28.1% during the forecast period: MRFR
The 6G Market is predicted to reach USD 340,510.2 million by 2040, registering a 28.1% CAGR during the 2031–2040 period. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The global 6G Market is expected to witness significant growth during the forecast period, primarily due to the growing need for 6G communication, high emphasis on low latency network for specific applications, and capitalizing on the latest technological advancements.
6G (sixth-generation wireless) is the technology that will replace 5G cellular technology. 6G networks will be able to utilise greater frequencies than 5G networks, resulting in significantly more capacity and significantly lower latency. One of the aims of the 6G internet is to facilitate communications with a latency of one microsecond. This is 1,000 times quicker than one millisecond throughput (or 1/1000th the latency). The 6G technology industry is predicted to enable significant advancements in imaging, presence technology, and location awareness. The 6G computational infrastructure, in collaboration with artificial intelligence (AI), will be able to determine the ideal location for computing to occur, including decisions regarding data storage, processing, and sharing.
In July 2022, Deutsche Telekom (DT) is taking the lead for the 6G-TakeOff research project, a program funded by the German Federal Ministry of Education and Research. Deutsche Telekom is forming a consortium with the aim of developing a uniform 6G architecture for communications networks comprising ground stations, flying infrastructure platforms and satellites.
The scope of the global 6G Market has been segmented based on component, communication infrastructure, application, and end user.
Based on component, the global 6G Market is segmented into Hardware, Software, and Services. The Hardware segment is expected to exhibit the fastest CAGR during the projected period.
Based on Communication Infrastructure, the global 6G Market is segmented into Wireless, and Fixed. The Wireless Communication Infrastructure is again bifurcated into Mobile Cellular and Mobile Broadband The Wireless segment is expected to exhibit the fastest CAGR during the projected period.
Based on Application, the global 6G Market is segmented into Multisensory XR Applications, Connected Robotics and Autonomous Systems (CRAS), Wireless Brain-Computer Interactions (BCI), Digital Twins, Smart Cities, Internet of Everything (IoE), and Others. The Multisensory XR Applications segment is expected to exhibit the fastest CAGR during the projected period.
Based on End User, the global 6G Market is segmented into Government, Consumer, Industrial, and Enterprise. The Enterprise segment is expected to exhibit the fastest CAGR during the projected period.
Geographically, the global 6G Market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The Asia Pacific region is predicted to have the greatest growth in the global 6G market due to the area's increased emphasis on satellite communication and improvements in this industry. One notable difference between 6G and earlier communication generations is the inclusion of non-terrestrial networks, which is a critical advancement that allows standard 2D network architectures to function in 3D space. Non-terrestrial networks include Low Altitude Platforms (LAPs), High Altitude Platforms (HAPs), Unmanned Aerial Vehicles (UAVs), and satellites. In November 2020, China launched the world's first 6G satellite. Huawei tested the NTN 6G networks in 2022 utilizing LEO (Low Earth Orbit) satellites. NTN networks will be an important development trend, according to an increasing number of initiatives in this field.
Geographically, North America is predicted to account for the highest proportion of the global 6G market due to the region's substantial presence of important companies, government initiatives, and a variety of other reasons. Because of the numerous benefits, several countries throughout the world are moving toward 6G. For example, in March 2019, the Federal Communications Commission (FCC) in the United States made experimental licenses available in the 95 gigahertz (GHz) to 3 terahertz (THz) range, well beyond the existing spectrum open to 5G. In addition to the foregoing, the FUTURE Networks Act, which was passed by the US House of Representatives in December 2021, would create a 6G Task Force to assess the state of industry-led committees working on 6G standards. The development of the 6G network is skyrocketing and hence it is expected to foster the whole market in upcoming years.
The key players in the global 6G Market are Nokia, Samsung Electronics, Huawei Technologies Co. Ltd., Telefonaktiebolaget Lm Ericsson, Qualcomm Technologies, Inc., AT&T Inc., LG Electronics, HPE, NTT Docomo Inc., ZTE Corporation, Jio Infocomm Ltd., Keysight Technologies, T-Mobile, Ciena Corporation, And Intel Corporation, and other.