6G Market Size, Demand, Key Players Analysis & Forecast 2024-2030

According to MarkNtel Advisors, the Global 6G Market size is estimated to grow at a CAGR of around 26.5% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: 6G market

Global 6G Market Driver:

Growing Demand for Low-Latency Networks Augmenting the Market Growth – Due to the increasing reliance on technology and communication networks, consumers are becoming less tolerant of delays and interruptions in data transmission. Telecommunication systems are an integral part of daily lives, and even a minor delay, as short as one millisecond, leads to a detrimental impact on tasks, especially in critical areas like autonomous vehicles. To stay competitive, service providers are actively working to minimize the slightest chance of network delays. Recent advancements in internet technology have enabled the use of interactive applications such as personalized web browsing, online gaming, video conferencing, and financial trading, all of which demand minimal latency.

Further, the financial and trading sector highlights the universal need for reduced latency. In these sectors, even slight delays can have significant financial repercussions. This growing demand for low-latency networking solutions underscores the crucial need for 6G technology in optimizing user experiences and business operations across various industries.

Global 6G Market Opportunity:

6G Technology's Potential for Transforming IoT, Blockchain, and Artificial Intelligence – 6G technology is expected to have a substantial impact on the growth of IoT, blockchain, and artificial intelligence. Artificial intelligence involves replicating human intelligence in machines, enabling them to perform specific tasks. Conversely, the Internet of Things (IoT) enables the connection of small devices to larger ones via the Internet. In recent years, the adoption of artificial intelligence and IoT-based communication devices has gained significant traction, especially with their integration into 5G communication systems. These technologies generate data, which is then decoded to extract relevant information. However, they have encountered challenges due to low data-speed rates, resulting in delayed response times.

Thus, the upcoming 6G technology is poised to address these challenges by significantly improving the efficiency of peer-to-peer connections and transferring large volumes of data through IoT devices at much higher speeds. This, ease of real-time data analysis at low latency networks, is poised to boom the Global 6G Market in the upcoming years.

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Scope of the Report and 6G Market Segmentation:

By Component

• Hardware- Market Size & Forecast 2024-2030F, USD Million
  • Antennas- Market Size & Forecast 2024-2030F, USD Million
  • Transceivers & Radios- Market Size & Forecast 2024-2030F, USD Million
  • Signal Processing Units- Market Size & Forecast 2024-2030F, USD Million
  • Others (Routers, Consumer Gadgets, etc.)- Market Size & Forecast 2024-2030F, USD Million
• Software- Market Size & Forecast 2024-2030F, USD Million
• Services- Market Size & Forecast 2024-2030F, USD Million

By Deployment Devices

• Smartphones- Market Size & Forecast 2024-2030F, USD Million
• Laptops/Tablets- Market Size & Forecast 2024-2030F, USD Million
• Wearables- Market Size & Forecast 2024-2030F, USD Million

By Communication Infrastructure

• Fixed- Market Size & Forecast 2024-2030F, USD Million
• Wireless- Market Size & Forecast 2024-2030F, USD Million
  • Mobile Broadband- Market Size & Forecast 2024-2030F, USD Million
  • Mobile Cellular- Market Size & Forecast 2024-2030F, USD Million

By Application

• Multisensory Extended Reality- Market Size & Forecast 2024-2030F, USD Million
• Networked-Enabled Robotic and Autonomous Systems- Market Size & Forecast 2024-2030F, USD Million
• Distributed Sensing and Communications- Market Size & Forecast 2024-2030F, USD Million
• Blockchain and DLT- Market Size & Forecast 2024-2030F, USD Million
• Smart Cities- Market Size & Forecast 2024-2030F, USD Million
• Others (Internet of Everything (IoE), Wireless Brain-Computer Interactions (BCI), etc.)- Market Size & Forecast 2024-2030F, USD Million

By End User

• Banking, Financial Services and Insurance (BFSI)- Market Size & Forecast 2024-2030F, (USD Million)
• Consumers- Market Size & Forecast 2024-2030F, (USD Million)
• IT & Telecom- Market Size & Forecast 2024-2030F, (USD Million)
• Manufacturing- Market Size & Forecast 2024-2030F, (USD Million)
• Healthcare- Market Size & Forecast 2024-2030F, (USD Million)
• Retail- Market Size & Forecast 2024-2030F, (USD Million)
• Media & Entertainment- Market Size & Forecast 2024-2030F, (USD Million)
• Others (Education, Tourism, etc.)- Market Size & Forecast 2024-2030F, (USD Million)

Among them, the IT & Telecom sector being the primary consumers of network services is foreseen to hold a substantial share globally.

6G Market Development:

• 2022: Telefonaktiebolaget LM Ericsson, announced its commitment to invest a substantial amount of money in 6G mobile research in Britain. This initiative entails partnerships with universities to undertake various projects encompassing hardware security, artificial intelligence (AI), cognitive networks, and quantum computing.
• 2022: Samsung, partnered with Korea University to create a specialized department focused on the advancement of next-generation technologies, including 6G, through research and development

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The Asia Pacific is foreseen to emerge as a pivotal player in the Global 6G Market, primarily owing to its escalating focus on satellite communication and remarkable advancements in this domain.

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