The unquenchable desire for faster data rates and better connectivity is among the main elements supporting the market. A network that can handle these demands is essential as more and more organizations and consumers rely on bandwidth-intensive services like 4K video streaming, augmented reality, and virtual reality. This element drives research and development efforts toward achieving ultra-low latency and terabit-per-second speeds in data transfer.
Another important aspect driving the 6G industry is the spread of Internet of Things (IoT) devices. Positioned to serve as the backbone of the Internet of Things revolution, 6G holds the potential to effortlessly connect billions of devices. The capacity of 6G networks to manage a large number of connected devices concurrently is a crucial factor driving its development, with applications ranging from smart cities and households to industrial settings. This component anticipates the expansion of connected devices in multiple industries in the future in addition to meeting the present need for IoT connectivity.
The need for novel applications and services is another element influencing the market in the context of 6G. Apart from its conventional function of delivering quicker mobile internet, 6G is anticipated to facilitate innovative uses including interactive haptic interfaces, sophisticated AI, and fully immersive virtual reality encounters. This aspect opens up new channels for industry players to offer cutting-edge and game-changing services by stimulating research projects to investigate the possible applications and capabilities of 6G.
Key market variables influencing the 6G environment are regulatory frameworks and policy choices. To allocate spectrum resources, set standards, and guarantee fair competition, governments and regulatory agencies are essential. Industry participants must keep a careful eye on and interact with the regulatory environment since it has the potential to either support or obstruct the development and application of 6G technology.
The market is shaped by economic variables as well. Research, personnel, and infrastructure will all need to be heavily invested in during the development and implementation of 6G technology. The availability of funds, return on investment, and cost-effectiveness are examples of economic factors that affect how quickly 6G is developed and adopted. Policymakers and industry participants alike must take into account how to balance the social benefits of 6G rollout with its economic feasibility.
Report Attribute/Metric | Details |
---|---|
Growth Rate | 28.1% (2031-2040) |
The 6G market is expected to account for USD 13,690.9 million in 2030 and is expected to surpass USD 340,510.2 million by 2040, exhibiting a compound annual growth rate (CAGR) of 28.10% during the forecast period (2031 - 2040). In the coming years, 6G technology is expected to evolve as a new version of the global mobile standard, adding new capabilities to 5G, and 4G/LTE services. Initially, the growing need for 6G communication across industries and high emphasis on low latency networks for specific applications are driving the growth of the market.
Figure 1: 6G Market Size, 2029-2040 (USD Billion)
When compared to the 5G network, the 6G network is predicted to give a 100x increase in energy and volumetric spectral efficiency. Because of the vast interconnectedness, the 6G infrastructure will be exceedingly difficult. Between 2020 and 2030, global mobile data traffic is predicted to climb by 55% per year. By 2030, traffic growth is expected to create 5,016 exabytes (EBs) of monthly data. This vast volume of data, along with significant processing and learning capabilities, may be used to govern the network at various phases. To meet all of these requirements and visions for the future, the key drivers of the generational leap beyond present mobile communication systems would be a mix of societal necessities and technology breakthroughs that enhance those necessities. When these variables are taken together, they offer a compelling case for the next frontiers in wireless networks. 6G mobile technology capabilities go beyond the intelligence, dependability, scalability, and security of traditional mobile networks. They will enable satellite communication integration to establish a ubiquitous mobile network, in accordance with the requirement for a genuinely global wireless network presence.
Eventually, 6G will have an even greater impact on how we do business, operate and manage our community infrastructures, and live, as will the evolution of all other technologies. 6G's promise is built on sensing, which is key to interacting with the physical environment and simulating it, extending to autonomous vehicles, smart factories, precision healthcare, and more. Developers would be eager to leverage 6G's anticipated attributes if it were available today. In addition to exceptional data rates and low latency, 6G will provide secure reliability, agility, and dynamic insights to support new and innovative applications in wireless connectivity, cognition, sensing, and imaging.
The 6G Market, in this report, has been segmented on the basis of Component into Hardware, Software, and Services. There will be different types of communication systems involved in 6G, such as frequency bands, communication topologies, base stations (macro and micro), Modem, Modules, Routers/HubSpot, Chipset, antennas, and so on. Furthermore, the hardware configurations of the access points and mobile terminals will differ greatly. Massive Multiple-Input Multiple-Output (MIMO) will be upgraded from 5G to 6G, which may necessitate a more complicated design. It will also make the communication protocol and algorithm design more difficult.
September 2022: Nokia has inked an innovation-focused Memorandum of Understanding with Vodafone NZ to collaborate on the development of innovative applications and services enabled by Nokia's sophisticated mobile network technology. The two companies' 30 years of relationship in New Zealand are being commemorated by a collaborative arrangement that will accelerate the potential of Vodafone's enormous 4G/5G and 5G networks. In the future, businesses want to investigate the capabilities of 5G advanced and 6G networks.
The 6G Market, in this report, has been segmented on the basis of Communication Infrastructure into Wireless, and Fixed. The 6G system is expected to provide simultaneous wireless connectivity that is 1000 times higher than 5G. The upcoming 5G wireless networks will build a foundation of intelligent networks that provide AI operations. It is estimated that by 2030, the capacity of 5G will reach its limit. Then, only 6G networks will be capable of completely intelligent network adaptation and management in order to provide sophisticated services. A fixed communications network is one that permits the transmission of signals via wireline or wireless facilities between points at fixed locations on a network. Rising use of fixed communication infrastructure in industries WILL help 6G to held the largest share in the market.
The 6G Market, in this report, has been segmented on the basis of Application into Multisensory XR Applications, Connected Robotics and Autonomous Systems (CRAS), Wireless Brain-Computer Interactions (BCI), Digital Twins, Smart Cities, Internet of Everything (IoE), and Others. XR will produce numerous game-changing applications for 6G throughout the AR/MR/VR spectrum. Due to their inability to achieve very low latencies for data-rate intensive XR applications, upcoming 5G systems will still fall short of providing a fully immersive XR experience that captures all sensory inputs. A fully immersive AR/MR/VR experience necessitates a collaborative design that incorporates not just engineering (wireless, processing, storage) but also perceptual needs derived from human senses, cognition, and physiology. It is clear that these 5G use cases cannot meet the technological criteria of 6G applications. As a result, several related research studied possible 6G utilization by expanding the scope of existing usage situations. Three new scenarios are expected to meet the needs of 6G use cases, covering the overlapping areas of 5G scenarios to form an integral set. To allow high-quality onboard communications and worldwide ubiquitous connections in the 6G era, MBB must be available across the whole Earth's surface, also known as ubiquitous MBB or ultra-mobile broadband.
The 6G Market, in this report, has been segmented on the basis of End User into Government, Consumer, Industrial, and Enterprise. Government & public sector is also emerging as the promising sector for the 6G technology. There are several applications of the 6G across the law enforcement, municipalities & offices operations, military personals, officers, and food inspectors, among others. Moreover, government agencies are rapidly embracing 5G technology in order to increase the speed as well as the accuracy of the operations. 6G networks will be more secure than their predecessors since they will employ modern encryption technology and artificial intelligence-based security mechanisms. This will help to ensure that data is kept secure and confidential, and that users' personal information is not compromised.
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Geographically, North America is predicted to account for the highest proportion of the 6G Market due to the region's substantial presence of important companies, government initiatives, and a variety of other reasons. When it comes to promoting the next generation of communication technology, the United States is behind the curve. AT&T and Ericsson executives were elected to lead a US industry body's effort to promote North America as a leader in 6G networks. Canadians rely on a good Internet connection for work, school, money, and health care more than ever before, making access to high-quality and affordable services critical. As a result, the Canadian government is making spectrum accessible to promote competition, rural connectivity, and the effective deployment of Wi-Fi and 5G technologies.
The Asia Pacific region is predicted to have the greatest growth in the 6G Market due to the area's increased emphasis on satellite communication and improvements in this industry. China has launched the world's first 6G test satellite into orbit, greatly increasing market demand. On November 2021, the Department of Telecommunications established a Technology Innovation Group on 6G (TIG-6G) with members from various Ministries/Departments, research and development institutions, academia, standardization bodies, telecom service providers, and industry to develop a Vision, Mission, and Goals for 6G, as well as a roadmap and action plans for 6G in India.
Further, the countries considered in the scope of the 6G Market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the 6G Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the 6G industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
6G technology is scheduled to be commercially available by 2030. To boost capacity, minimize latency, and improve spectrum sharing, the technology makes more use of the distributed radio access network (RAN) and the terahertz (THz) spectrum. While some early conversations to define the technology have place, 6G research and development (R&D) efforts began in earnest in 2020. Advanced mobile communications technology, such as cognitive and highly secure data networks, will be required for 6G. Strong R&D capabilities allow companies to attain a competitive advantage over their peers, maintain a technological edge over their competitors, and stay ahead of industry trends.
July 2022: Deutsche Telekom (DT) is taking the lead for the 6G-TakeOff research project, a program funded by the German Federal Ministry of Education and Research. Deutsche Telekom is forming a consortium with the aim of developing a uniform 6G architecture for communications networks comprising ground stations, flying infrastructure platforms and satellites.
May 2022: Samsung released a 6G spectrum white paper and 6G research results. The next-generation communications technology, 6G, will be supported by worldwide frequency bands, according to a white paper that Samsung Electronics released today. The refarming of current bands utilized for 3G, 4G, and 5G networks to 6G operation is another method mentioned in the white paper for obtaining all the spectrum required for 6G. Additionally, it highlights the necessity of doing research on futuristic spectrum use regulations and technologies in order to support 6G and other services effectively and flexibly with the available spectrum.
September 2021: Huawei plans to release the first 6G devices around 2030. In the upcoming years, the corporation will define 5.5G and conduct 6G research simultaneously. However, Xu pointed out that there are geopolitical uncertainties that could still prevent Huawei from selling 6G products in foreign markets, casting a shadow over the research and development of 6G technology.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)