6G Market

Market Definition

The 6G Market size was valued at USD 5.20 billion in 2023 and is predicted to reach USD 41.42 billion by 2030 with a CAGR of 34.5% from 2024-2030. 6G refers to sixth-generation mobile communication technology that is a conceptual wireless network and beneficial for broadband cellular networks. The 6G is basically the successor to fifth-generation (5G) cellular technology. The goal of 6G is to replace or work alongside 5G networks and will offer significantly faster transmissions, at speeds of 95 Gbit/s.

Also, it provides lower latency that improves the performance of business applications as well as other digital experiences such as videoconferencing, online gaming and self-driving cars. In addition, this technology includes 6G connectivity methods such as ultra-reliable communications, enhanced mobile broadband and massive machine type communications.

Market Dynamics and Trends

The rising adoption of IoT devices across sectors such as healthcare, manufacturing, and logistics is propelling the need for precise position sensing, driven by the rapid and low-latency communication, which in turn is boosting the market. Additionally, the rising uptake of autonomous vehicles is amplifying the expansion of the 6G position sensing market, given their reliance on accurate real-time positioning data for navigation and obstacle avoidance.

Moreover, the escalating investments by governments and telecommunication firms globally to harness the high-speed, low-latency connectivity of 6G networks are further fueling the growth of the market. As per the Global System for Mobile Communications Association, mobile operators in the Asia Pacific region have outlined plans to invest USD 227 billion between 2022 and 2025 for the advancement of 6G technology in the region.

However, limited global coverage and the subsequent hike in 6G service subscription prices is expected to restrain the growth of market during the forecast period. On the other hand, growing smart cities and increased use of internet of things (IoT) as well as cloud-based solutions in various sectors such as retail, manufacturing, finance, and healthcare are expected to create lucrative growth opportunities for the 6G market players in future. 

Market Segmentations and Scope of the Study

The 6G market size has been segmented based on offering, connectivity, application, end user and region. Based on offering, the market is branched into Hardware, Software, and Services. Based on connectivity, the market is segmented into Enhanced mobile broadband (eMBB), Ultra-reliable low latency communication (URLLC) and massive machine type communication (mMTC). Based on application, the market is categorized into connected vehicles, Monitoring & tracking, Automation, Smart surveillance , VR & AR, Enhanced video services, and others. Based on end user, the market is divided into Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment, and Others. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW.

Geographical Analysis

North America holds the dominant share of global 6G market and is expected to continue dominating the market during the forecast period. This is due to the rising government initiatives and joint ventures fostering innovation, research, and collaboration in the telecommunications sector. The U.S. government initiated significant strategies for research and development projects aimed at advancing 6G technology, with a focus on enhancing wireless connectivity, data transmission speeds, and network reliability. In June 2023, The United States and Finland issue a joint statement on cooperation in advanced wireless communications, signaling a collaborative effort to advance the development and deployment of technologies like 6G. This partnership aims to drive innovation and accelerate progress in the field of advanced wireless communications, potentially shaping the future landscape of 6G networks.

Also, the growing focus on wireless communication infrastructure development in countries such as the U.S. is propelling the 6G market in the region. This emphasis stems from the increasing demand for high-speed, low-latency connectivity required for emerging technologies such as the Internet of Things (IoT), artificial intelligence, and augmented reality. In April 2023, The U.S. initiates a 6G rollout plan, aiming to establish a technological edge for Washington. This move reflects the nation's strategic focus on advancing next-generation wireless technology, potentially driving significant developments in the global 6G market. Telecommunications companies and technology providers are intensifying their research and development efforts to pioneer 6G solutions, aiming to deliver unparalleled performance, reliability, and efficiency.

On the other hand, Asia Pacific is expected to show a fastest growth in the 6G market due to growing emphasis on satellite communication and advancements in this field in countries such as China, Japan, and India. For instance, February 2024, China Mobile launched the world's first 6G satellite, advancing communication technologies. This milestone marks a significant step forward in the development of 6G networks, promising faster speeds and more reliable connectivity for future generations of wireless communication.

Also, the region is witnessing a surge in the number of smartphone and smart device users, driving the demand for advanced telecommunications technology including 6G. With the proliferation of IoT devices, smart city initiatives, and digital transformation across industries, there is a growing need for ultra-fast, reliable, and low-latency connectivity. As a result, telecommunications companies and technology providers in the Asia Pacific are accelerating their efforts to develop and deploy 6G networks, positioning the region at the forefront of the next wave of wireless communication innovation. 

Competitive Landscape

The 6G market comprises of various players such as Huawei Technologies Co., Ltd,Intel Corporation,Samsung Electronics,AT&T ,Keysight Tecnologies,ZTE Corporation,Jio Infocomm,NTT Data Corporation,NEC CorporationM,Nokia Corporation. These players have adopted various strategies launch to increase their market penetration and strengthen their position in the 6G technology industry.

For instance, in October 2023, Ericsson launched the India 6G program, aiming to spearhead the development of 6G technology in the country. This strategic move underscores India's potential to emerge as a key player in the global 6G market, fostering innovation and accelerating advancements in telecommunications infrastructure and services.

Also, in October 2023, Fujitsu partnered with Kyushu University to launch 6G research project. This collaboration aims to explore the potential of 6G technology, focusing on advanced wireless communication systems and applications. The initiative underscores Fujitsu's commitment to driving innovation in telecommunications and positioning itself at the forefront of the emerging 6G market.

Key Benefits

• The report provides quantitative analysis and estimations of the 6G market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of 6G market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on 6G market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Key Market Segments

By Offering

• Hardware

• Software

• Services

By Connectivity

• Enhanced mobile broadband (eMBB) 

• Ultra-reliable low latency communication (URLLC)

• Massive machine type communication (mMTC)

By Application

• Connected vehicles

• Monitoring & tracking

• Automation

• Smart surveillance

• VR & AR

• Enhanced video services

• Others

By End User

• Manufacturing

• Automotive

• Energy & Utilities

• Transportation & Logistics

• Healthcare

• Government

• Media & Entertainment

• Others

By Geography

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 5.20 Billion
Revenue Forecast in 2030	USD 41.42 Billion
Growth Rate	CAGR of 34.5% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rising adoption of IoT devices across various sectors fuels the market. The escalating investments by governments and telecommunication firms globally boosts the market growth.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

• Huawei Technologies Co., Ltd

• Intel Corporation

• Samsung Electronics

• AT&T 

• Keysight Tecnologies

• ZTE Corporation

• Jio Infocomm

• NTT Data Corporation

• NEC Corporation

• Nokia Corporation