How Has the 6G Market Size Evolved in Recent Years?
The 6g market has seen considerable growth due to a variety of factors.
• The expansion of the 6G market has been significant in the past couple of years. It's forecasted to escalate from $7.32 billion in 2024 to $9.5 billion in 2025, reflecting a compound annual growth rate (CAGR) of 29.7%.
Factors such as the advancement in wireless connectivity, increasing data needs, investments from the government and industry sectors, emerging practical applications, and ultra-reliable low latency communication (urllc) have contributed to this substantial growth observed in the historical timeline.
What Are The Predictions for The 6G Market?
The 6g market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for 6G is predicted to experience massive expansion in the forthcoming years, with a projection to reach $26.43 billion by 2029, growing at a compound annual growth rate (CAGR) of 29.2%.
The projected growth within this period can be linked to advancements in sustainable and eco-friendly communication, innovative spectrum, privacy and security issues, efforts at global standardization, and specialized industry needs. Notable trends expected during this forecast period encompass the integration of rising technologies, international partnerships, global digital transformation, tech progress, and terahertz (thz) communication.
Which Drivers Are Accelerating Growth In The 6G Market?
The surge in internet connectivity is predicted to stimulate the growth of the 6G market. The term 'internet connectivity' denotes the capability of people or devices to establish connections with the Internet, enabling access to data and communication. 6G contributes to internet connectivity by facilitating internet devices to achieve peak speeds of one terabit per second (TBPS) and providing highly efficient and reliable connectivity even in the presence of numerous connected devices. A report by the Switzerland-based specialized agency, International Telecommunication Union, in October 2023 revealed that roughly 67 percent of the global population, totaling 5.4 billion individuals, are now included in the online community. This marks a 4.7 percent increase from 2022, an improvement from the 3.5 percent growth registered between 2021 and 2022. As such, the escalating internet connectivity is augmenting the 6G market's development. On a similar note, the escalating application of Internet of Things (IoT) devices is projected to contribute to the 6G market’s growth. IoT devices are physical entities equipped with software, sensors, and additional technologies that facilitate connection, data collection, and data exchange with other systems and devices via the internet. The prospective higher data rates of 6G are likely to facilitate quicker reception and transmission of data for IoT devices, accommodating applications with stringent requirements for ultra-high data throughput such as augmented reality (AR), virtual reality (VR), and high-resolution video streaming. A report by the Sweden-based telecommunications company, Ericsson, indicated in November 2022 that broadband IoT (4G/5G) reached 1.3 billion connections in 2022, with a predicted spike to almost 60% of all cellular IoT connections by the end of 2028. North East Asia, leading in cellular IoT connections, is expected to go beyond 2 billion connections by 2023. Henceforth, the growing application of IoT devices is further propelling the growth of the 6G market.
What Are The Core Segments Of The Global 6G Market?
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
Subsegments:
1) By Hardware: Network Infrastructure, User Equipment, Chips And Components, Other Supporting Equipment
2) By Software: Network Management And Optimization, Communication Protocols, Data Analytics And AI Platforms, Security Software, Application Software
3) By Services: Consulting And Deployment Services, Managed Services, Integration Services, Support And Maintenance, Training And Education
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Which Emerging Trends Are Reshaping The 6G Market Size?
Leading organizations in the 6G market are aiming to integrate sophisticated technology products that make use of software, such as electronic design automation (EDA) software, in an effort to foresee the demands of 6G wireless communications development and secure a competitive stance in the industry. The EDA software suite serves as an all-encompassing tool that facilitates the automatic design and verification of electronic circuits and systems. For instance, in June 2023, the American electronics firm Keysight Technologies Inc. introduced its PathWave ADS 2024, an EDA software suite specifically for chip designers, equipping them with features necessary for both 5G and 6G wireless communications. This software tackles issues in mmWave frequency bands and offers solutions for signal loss, intricate packaging, and design problems. Moreover, it enhances simulation by speeding up 3D electromagnetic analysis, simplifying workflows for RF components, and offering better electrothermal simulation capabilities for microwave power amplifiers.
Who Are the Key Players In The 6G Market?
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
What Are The Regional Insights Into The 6G Market?
North America was the largest region in the 6G market in 2024. 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.
