6G Market Worth USD 159.54 Billion with CAGR of a 127.16% to 2035 | Exclusive InsightAce Report
Companies covered in this report are Apple Inc., Nokia Corporation, AT&T Inc., T-Mobile US, Inc., Verizon Communications Inc., Intel Corporation, Huawei Technologies Co., Ltd., LG Corporation, Cisco Systems, Inc., and Sony Corporation
Jersey City, NJ, May 24, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global 6G Market Size, Share & Trends Analysis Report By Devices (Mobile Devices, IoT and Edge-Computing Devices, Networking Devices), Communication Infrastructure (Wireless And Fixed) And End Users (Consumer Applications And Industrial And Enterprise)- Market Outlook And Industry Analysis 2035"
The global *6G market* is estimated to reach over *USD 159.54 billion by 2035*, exhibiting a *CAGR of 127.16%* during the forecast period.
The 6G cellular technology is set to succeed the current 5G network by using even higher frequencies, thereby providing significantly increased bandwidth and lower latency. While the 6G radio networks will offer improved communication and data gathering, the overall 6G technology market will require a systems approach involving data analytics, artificial intelligence, high-performance computing (HPC), and quantum computing to drive growth. The market is also expected to facilitate a range of innovations across different industry verticals.
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However, due to the strategic nature of some 6G capabilities, government wireless applications are likely to be the main driver of the market. Furthermore, building on the trend started with 5G, the 6G technology will integrate various previously separate technologies, such as AI, big data analytics, and next-generation computing. Additionally, the 6G networks will expand the scope of applications across communications, sensing, wireless cognition, and imaging, enabling the market to maintain its rapid growth.
*Recent Developments:*
· In Nov 2021, the Department of Telecommunications organized an Innovation Development Group for 6G (TIG-6G) with members from various government departments, research institutions, academia, standardization bodies, telecommunications service providers, and industry to develop a vision, mission, and objectives for 6G, as well as a roadmap and action plans for its implementation in India.
· In Nov 2020, Google and Apple launched the announcement that they will join a North American industry group developing 6G. Apple and Google are the newest members of the Next G Alliance, joining Charter Communications, Cisco, Hewlett Packard Enterprise, Intel, Keysight Technologies, LG Electronics, Mavenir, MITRE, and VMware. The organization's mission is to "advance North American mobile technology leadership in 6G and beyond over the next decade while building on the long-term evolution of 5G."· In Oct 2019, Sony, NTT, and Intel will collaborate on 6G mobile network technology, which is projected to be available around 2030. Fifth-generation networks are just now being activated, but the trio plans to construct a sixth-generation organization in the United States. The three partners plan to encourage other large global corporations, including Chinese players, to participate. The business intends to leverage the collaboration to accelerate development towards mass manufacturing.
*List of Prominent Players in the 6G Market:*
· Apple Inc
· AT&T Inc.
· Cisco Systems, Inc.
· Google LLC
· Huawei Technologies Co., Ltd.
· Intel Corporation
· LG Corporation
· MediaTek Inc.
· Nippon Telegraph and Telephone Corporation
· Nokia Corporation
· Samsung Electronics Co., Ltd.
· SK Telecom
· Sony Corporation
· Telefonaktiebolaget LM Ericsson
· T-Mobile US, Inc
· Verizon Communications Inc
· ZTE Corporation
*6G Market Report Scope:*
*Report Attribute* *Specifications*
*Market size value in 2030* USD 7.47 Bn
*Revenue forecast in 2035* USD 159.54 Bn
*Growth rate CAGR* CAGR of 127.16% from 2031 to 2035
*Quantitative units* Representation of revenue in US$ Billion, and CAGR from 2031 to 2035
*Historic Year* 2019 to 2022
*Forecast Year* 2031-2035
*Report coverage* The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
*Segments covered* Devices, Communication Infrastructure And End Users
*Regional scope* North America; Europe; Asia Pacific; Latin America; Middle East & Africa
*Country scope* U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia
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*Market Dynamics:*
*Drivers- *
The market for 6G communication is growing due to the increasing demand for low-latency networks in various industries. This demand is driven by faster and more reliable connectivity for specific applications. The market growth is also supported by advancements in next-generation networks, such as the Internet of Things and blockchain technology, which require the high-speed capabilities of 6G communication. Additionally, the adoption of 6G technology is expected to be further accelerated by the promotion of smart cities, the growth of internet users and edge-computing devices, and the recognition of communication as a fundamental right for human survival. These factors are expected to expand the 6G communication market during the forecast period.
*Challenges:*
The absence of standardization in 6G technology poses a significant constraint that may impede interoperability between various networks and devices. Furthermore, the high cost of developing and deploying 6G infrastructure could decelerate its adoption and limit its accessibility, particularly in developing nations. Another limitation could be the potential health and environmental hazards linked to the amplified utilization of high-frequency radio waves and the implementation of extensive infrastructure needed for 6G networks. Finally, the existing geopolitical tensions and trade disputes among countries could also present obstacles to the global expansion of the 6G market.
*Regional Trends:*
The North America 6G market is expected to register a major market share. The US needs to catch up in promoting the advancement of communication technology for several reasons, including the notable presence of significant associations and government initiatives in the region. To address this issue, a US industry body has appointed AT&T and Ericsson executives to lead efforts in promoting North America as a leader in 6G networks. Access to high-quality and affordable Internet services is critical in Canada as people increasingly rely on Internet connectivity for work, school, finances, and healthcare. Besides, the Asia Pacific region had a substantial share due to the region's increased focus on satellite communication and advancements in this field; China has launched the world's most significant 6G test satellite into space, creating a surge in market demand.
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*Segmentation of 6G Market-*
*By Device*
· Mobile Devices
· IoT and Edge-Computing Devices
· Networking Devices
· Others
* By Communication Infrastructure*
· · Wireless Infrastructure
· Mobile Cellular
· Mobile Broadband
· Fixed Infrastructure
*By End Users*
· Consumer Applications
· Mobile
· M2M
· Computing
· Industrial and Enterprise
· Industry 4.0
· Smart City and Urban infrastructure
· eHealthcare
· Autonomous Vehicle
· Others
*By Region-*
*North America-*
· The US
· Canada
· Mexico
*Europe-*
· Germany
· The UK
· France
· Italy
· Spain
· Rest of Europe
*Asia-Pacific-*
· China
· Japan
· India
· South Korea
· Southeast Asia
· Rest of Asia Pacific
*Latin America-*
· Brazil
· Argentina
· Rest of Latin America
* Middle East & Africa-*
· GCC Countries
· South Africa
· Rest of Middle East and Africa
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