The global 6G market size is projected to grow exponentially during the assessment period. Most countries are taking up initiatives to drive 6G developments and investing a significant amount of time funds to become a leader in the 6G space. According to Market Research Future (MRFR), the global 6G services market is projected to garner USD 340 BN by 2040, registering a 58.1% CAGR throughout the review period (2031-2040).
The rising demand for reliable and ultra-latent connectivity and high data transmission speed to revolutionize business models will drive market growth. Various megatrends affecting the global 6G market include the demand for extremely high bandwidth for the seamless performance of connected devices and advances in 6G technologies with game-changing speeds and nationwide coverage.
6G Market Major Players
Players leading the global 6G market include Samsung Electronics, Nokia, Huawei, Cisco, Ericsson, AT T, LG Electronics, Ciena, Qualcomm, Microsoft, Intel, HPE, Telnyx, Google, and Apple.
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Global 6G Technology Market – Segments
The report is segmented into components, communication infrastructures, device usages, end uses, and regions. The component comprises infrastructure/hardware, software, and services (professional and managed services). The communication infrastructure comprises wireless (mobile cellular, mobile broadband) and fixed broadband.
The device usage comprises mobile devices, IoT edge-computing devices, networking devices, and others. The end use comprises government, consumer, industrial, and enterprise. The region segment comprises Europe, the Americas, APAC, and the Rest of the World.
Global 6G Market – Regional Analysis
North America is likely to continue to dominate the global 6G technology market. The presence of several notable 6G technology providers continually researching to make 6G a reality before the decided time will impact the market growth positively. Also, government initiatives and funds to speed up 6G research and rollout will drive market growth. The allocation of 6G frequencies by the Federal Communications Commission (FCC) will create substantial market demand.
Besides, various regional telecom companies and the rising use of the latest technologies and connected devices will substantiate the region’s market shares. Also, increasing smart city projects in this region boosts the market size, promoting the need for high-speed networks. Moreover, government initiatives to expand 6G applications into defense and manufacturing will push 6G market revenues.
Europe is expected to take the second lead in the global 6G market due to rigorous RD activities to improve the connectivity landscape. With their growing investments in the 6G technology, European countries such as the UK, Germany, and France will positively contribute to the regional market growth. Additionally, the presence of prominent market players and a growing industrial scenario, alongside the resurging economy in this region, would propel the market progress.
On the other hand, APAC is projected to demonstrate significant progress in the 6G space. Increasing focus on improving connectivity at workspaces and high RD investments will catalyze the growth of the 6G market. Ongoing initiatives and developments in 6G, alongside the vast demand for 6G connectivity, will act as a tailwind for regional market growth.
China is extensively working on its hypersonic weapons program and researching to make 6G a reality to solve the current communication blackout at hypersonic speeds. Chinese researchers have already developed a 6G laser device that can penetrate the signal-blocking plasma layer on the surface of missiles in hypersonic flight. The country expects the 6G breakthrough to significantly impact other military applications, including detecting stealth aircraft/high-speed space communications.
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Global 6G Technology Market – Competitive Analysis
Although in its embryonic stage and with a handful of 6G technology and service providers, the market still appears to be highly competitive. Technology developers strive to make 6G data transmission successful with increased distance records. Leading mobile experts are working on exploring possibilities of demonstrating the wireless transmission and reception of 6G THz data over a longer distance outdoors.
6G Technology providers adopt strategies such as mergers acquisitions, collaboration, expansion, and product technology launches to gain a substantially larger market share. Highly competitive, the global 6G technology market appears fragmented due to the presence of several major technology providers.
Industry/ Innovation/ Related News
June 06, 2022 — Nokia announced a partnership with DOCOMO and NTT to define and develop key technologies for 6G implementations. The collaboration will focus on emerging proofs-of-concept (POC) 6G technologies to enable AI native air interface and sub-THz radio access. Partnering companies aim to demonstrate a performance gain with an AI-based 6G air interface, achieving high-data rate beamformed access with a high-frequency band at 140 GHz. Nokia, DOCOMO, and NTT will continue to shape next-generation technologies together.
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