Press release
6G Market Analysis, Market Size, Leading Players, Trends, And Forecast To 2033
6G Market Share
The Business Research Company offers in-depth market insights through 6G Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The 6g market size has grown exponentially in recent years. It will grow from $5.65 billion in 2023 to $7.32 billion in 2024 at a compound annual growth rate (CAGR) of 29.6%. The growth in the historic period can be attributed to wireless connectivity evolution, growing data demand, government and industry investments, emerging use cases, ultra-reliable low latency communication (urllc).
The 6g market size is expected to see exponential growth in the next few years. It will grow to $20.46 billion in 2028 at a compound annual growth rate (CAGR) of 29.3%. The growth in the forecast period can be attributed to sustainable and green communication, spectrum innovation, security and privacy concerns, global standardization efforts, industry-specific requirements. Major trends in the forecast period include emerging technologies integration, international collaboration, global digital transformation, technological advancements, terahertz (thz) communication.
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Market Segmentation:
The 6g market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Device: Networking Devices, IoT and Edge-Computing Devices, Mobile Devices, Other Devices
3) By Application: Digital Twins, Blockchain, Smart Cities
4) By End-User Vertical: Agriculture, Automotive, Healthcare, Government, Manufacturing, Other End-user Verticals
Major Driver - Growing Internet Connectivity Is Anticipated To Fuel The 6G Market
The growing internet connectivity is anticipated to fuel the 6G market. Internet connectivity refers to the ability of individuals or devices to be linked to the Internet, facilitating data access and communication. 6G is used in internet connectivity to enable internet devices to attain maximum speeds of one terabit per second (TBPS) and allows for highly efficient and reliable connectivity even with a massive number of connected devices. For instance, in February 2021, according to DataReportal, a Singapore-based online reference library, in 2022, 92.0% of the entire population in the US had internet access and between 2021 and 2022, the number of internet users in the US increased by 8.4 million, or 2.8%. Therefore, the growing internet connectivity is driving the 6G market.
Competitive Landscape:
Major companies operating in the 6g market report are Apple Inc, Google LLC, Samsung Electronics Co Ltd, Verizon Communications Inc, AT&T Inc, Nippon Telegraph and Telephone Corporation (NTT), Huawei Technologies Co Ltd, Sony Corporation, T-Mobile US Inc, LG Corporation, Intel Corporation, Cisco Systems Inc, Orange SA, Qualcomm Incorporated, Mitsubishi Electric Corporation, Broadcom Inc, Fujitsu Limited, Telefonaktiebolaget LM Ericsson , Nokia Corporation, NEC Corporation, MediaTek Inc, ZTE Corporation, SK Telecom Co Ltd, Keysight Technologies Inc, Ciena Corporation, Rohde & Schwarz, Xilinx Inc, National Instruments Corporation, InterDigital Inc, DeepSig Inc
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