Press release
6G Market: Key Metrics, Market Size, Comprehensive Insights, Industry Trends, and Growth Forecast
6G Market
6G Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $20.46 billion In 2028 At A CAGR Of 29.3% :
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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6G Market Major Segments
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
Key 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.
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Prominent Trend - Advanced Technology Products For Anticipating The Requirements For 6G Wireless Communications Development
Major companies in the 6G market are focused on adopting advanced technology products that utilize software, such as electronic design automation (EDA) software, to anticipate the requirements for 6G wireless communications development and gain a competitive edge in the market. The electronic design automation (EDA) software suite is a comprehensive toolset facilitating the automated design and verification of electronic circuits and systems. For instance, in June 2023, Keysight Technologies Inc., a US-based electronics company, launched its PathWave ADS 2024, an electronic design automation (EDA) software suite for chip designers, providing capabilities for 5G and 6G wireless communications. It addresses challenges in mmWave frequency bands, offering solutions for signal loss, complex packaging, and design issues. The software enhances simulation with faster 3D electromagnetic analysis, streamlined workflows for RF components, and improved electrothermal simulation for microwave power amplifiers.
6G Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the 6G market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 6g market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. 6G Market Report Structure
3. 6G Market Trends And Strategies
4. 6G Market - Macro Economic Scenario
5. 6G Market Size And Growth
…..
27. 6G Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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