|Market Driving Forces|
|Advancements in Wireless Technologies Coupled with Increasing Connected Technology|
|High emphasis on low latency network for specific applications • Growth of internet users and edge-computing devices|
|Drivers Impact Analysis|
According to Market Research Future, the global 6G Market is expected to surpass USD 340 Billion by 2040 with a CAGR rate of 58.1% during the projected period.
6G will be the sixth generation of wide-area wireless technology. 6G is the successor to 5G cellular technology. In telecommunications, 6G is presently under development for wireless communications technologies encouraging cellular data networks. To support one microsecond-latency communication is one of the aims of the 6G internet. 6G networks are expected to provide more diverse capabilities than their predecessors and more than likely to encourage applications beyond recent mobile applications, such as virtual and augmented reality, Artificial intelligence (AI), and the Internet of Things (IoT).
Currently, 5G being deployed at a rapid pace, providing high-speed low-latency connectivity for a wide range of services. The 6G should contribute to an efficient, human-friendly, sustainable society through ever-present intelligent communication. Nevertheless, several of 5G advanced technology components can be seen as precursors to some of the 6G building blocks. AI/ML will play an important role in the fully data-driven architecture of 6G and the intelligent network platform of the future.
The spread of the pandemic Covid-19 has severely impacted all facets of human life, including the telecom sectors. The advent of a novel coronavirus (COVID-19) has resulted in a sequence of "black swan" occurrences affecting the whole telecom industry. People and organizations are increasingly using digital tools to manage their workloads, resulting in an unexpected increase in fixed and mobile network traffic and access needs. To meet their customers' rising networking needs, telecom network operators have had to deal with an unusual predicament. The COVID-19 has devastated every industry. As a result, the telecoms industry has been significantly impacted because it is the foundation of communication essential for government, and private sector commercial processes to run smoothly.
The global pandemic has brought major changes in the way businesses conduct their operations, and as far as the 5G rollout services by the tech giants are concerned, the main aim is to provide services as per the industry standards to the communication providers, as well as, spread awareness amongst people to adopt the 5G technology amongst different established industries. COVID 19 is extending opportunities to the communication operators to expand their scale and pace of the 5G investments. 6G technology is also perceived as having the potential to significant influence the promotion of innovation and production of tools that will aid environmental digital resource mapping, including portable geographic information systems (GIS) and global positioning systems (GPS) synergies, thus, promoting landscape and natural resource management conservation, and tangible and intangible resource optimal consumption, exploitation and utilization.
6G Market Dynamics
The major driving factors for the 6G are the growing emphasis on connectivity and rising demand for 6G communication in recently developed technologies such as IoT and blockchain. In addition, commercialization of connectivity dependent technologies will get a boost with high-speed internet and remote connectivity, which are characteristics of 6G technologies. Rrapid urbanization and communication becoming a right for human sustenance is another factor expected fuel the growth of the global 6G market over the forecast period. Furthermore, communication and connectivity have played a significant role in this migration. Increasing efforts toward promoting smart cities and increasing urban population are also expected to have a significant impact on the adoption of 6G technologies.
6G Market Driver
Wireless technologies such as 5G is now rolling at a rapid pace all over the globe. This advancement has increased the use cases of augmented reality and virtual reality. Connected cars, connected homes, and connected business processes are becoming more common as this was just a concept before decades. Today, the technological advancements in wireless technology have made several things possible and are expected to create a massive revolution in connected technology. The internet of senses is expected to gain new heights with the introduction of 6G technology in the next decade.
The adoption of IoT is on the rise with an increase in the number of connected devices. The commercial development of IoT is essentially related to its performance, which depends on how quickly and conveniently it can interact with other IoT devices. This increase in speed will enable interconnected devices to connect and transfer information quicker than ever before.
6G and interconnected devices would have a massive amount of data to enable them to gain transparency into their activities. Businesses will grow and make crucial data-driven decisions, innovate in production, smart farms, and manufacturing, paving the way for cost reduction, increased consumer service, and long-term development. Additionally, 6G networks would have improved processing capacity and will use lower latency, which ensures that interconnected devices will have practically immediate access to the network, as well as better connectivity when traveling owing to the use of sophisticated broadband antennas.
6G Market Opportunity
Holographic technology is a technology that uses the principles of interference and diffraction to record and reproduce real three-dimensional images of objects. The ideal holographic display should be based on the naked eye, and when necessary, it can also be realized with the help of a head-mounted display and assisted by technologies such as AR/VR. Increasing use of holographic technology in many applications such as communication, telemedicine, office design, and entertainment games, and realize the interaction between projection content and users is expected to drive the growth of the 6G market in the near future.
6G Market Challenges
6G is bulky, expensive, and power consuming which in turn to very larger investment is expected to challenge the 6G market in the near future. In addition, high initial capital for infrastructure development to offer scalability and adaptability is a major factor expected to challenge growth of the global 6G Market to a certain extent.
6G Market Regional Analysis
The geographic analysis of the global 6G market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The Asia Pacific is expected to show the largest revenue share in the global 6G market due to the increasing emphasis on satellite communication and advancements in this field in this region. China has introduced the world's first 6G test satellite into orbit which is significantly making the market in demand. For instance, November 2020, China successfully launched an experimental test satellite for 6G technology into orbit with candidates, along with around 12 other satellites, using a Long March 6 launch vehicle rocket. However, 6G networks are proficient in offering high-speed network access by developing a higher frequency spectrum, high throughput satellite communication services are implemented to attain pervasive coverage in remote and isolated areas. China is considered responsible for almost half a percentage of the global 6G patent filings followed by other countries.
The market in Europe account for a significant revenue share and is expected to index a high CAGR over the next ten years. This is attributed increasing investments for development of new and innovative technologies by major private and public companies for 6G technology in countries in the region. Increasing focus of major players on R&D activities for providing smart solutions to organizations with high bandwidth and increase transmission efficiency is expected to support growth of the 6G market over the next few years.
North America is expected to register substantial growth in terms of revenue in the global market, owing to the huge presence of key players, government initiatives, and many more factors in this region. North American wireless technology leadership through private sector initiatives and with a strong focus on 6G development in North America. Moreover, increasing innovation coupled with hugely impacts the quality of life for consumers since the envisaged 6G enhancements are expected to drive the growth of north America 6G market in the near future.
6G Market Competitive Analysis
6G is too early in the development phase to have information on its technologies or its capabilities. Even as brand-new 5G technology has still to create a foothold across the world, the U.S. and China already are running to improve the further step in high-speed communications: "a 6G network". The proliferating development and adoption of 6G across the world are one of the leading factors fueling market growth worldwide.
6G Market Key Developments
6G Market Key Players
This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2031 to 2040. For this analysis, MRFR segmented the global 6G market has based on component, communication infrastructure, device usage, end use, and region/country.
|Market Size||USD 340 Billion|
|Forecast Units||USD (Value billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||• By Component (Infrastructure/Hardware, Software, Service (Professional and Managed)) • By Communication Infrastructure (Wireless(Mobile Cellular, Mobile Broadband) and Fixed) • By Device Usage (Mobile Devices, IoT and Edge-Computing Devices, Networking Devices, and Others) • By End Use (Government, Consumer, Industrial and Enterprise)|
|Geographies Covered||• North America (US, Canada, and Mexico) • Europe (UK, Germany, France, Rest of Europe) • Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific) • Middle East & Africa • South America|
|Key Vendors||Huawei Technologies|
|Key Market Opportunities||• Use of holography in communication • Use of 6G in growth of IoT, blockchain, and artificial intelligence|
|Key Market Drivers||• Advancements in Wireless Technologies Coupled with Increasing Connected Technology • High emphasis on low latency network for specific applications • Growth of internet users and edge-computing devices • Drivers Impact Analysis|
The global 6G market is expected to exhibit 58.1% during the projected period.
The Asia-Pacific region is expected to be an early adopter of the 6G technology by 2040.
The networking devices segment is expected to be lucrative for the market during the forecast period.
Industrial is expected to be the largest contributor to the 6G market by 2040.
Huawei, Ericsson, Samsung, Nokia, and LG are actively researching 6G technology.
It’s hard to say what 6G will look like exactly, but it will likely involve an advanced level of automation and connectivity in cars, drones, mobile devices, homes, and industries. It will also incorporate technology like artificial intelligence and advanced “edge computing” to make networks more sophisticated, harnessing record-fast internet speeds and instantaneous latency to coordinate complex systems like road traffic and stock markets.
A 6G base station is a wireless communications station used to receive and transmit cellular signals. Although base stations for 6G aren’t around yet, 4G LTE and 5G networks use cell towers and “small cells”—small transmitters installed on street corners and utility poles—to beam internet and cellular data to our phones and other wireless devices.
6G is a mostly theoretical concept, representing a set of ideas and theories about how the mobile network, Wi-Fi devices, connected automobiles, and other Wi-Fi–connected things will look and feel a decade or so from now. It’s the future of wireless internet as academics and companies imagine it right now.