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The 6G market size is forecast to increase by USD 36.39 billion at a CAGR of 51.15% between 2022 and 2027. The expansion of the market hinges on several pivotal factors, notably the escalating investments in 6G networks by both governments and industry players. This infusion of capital reflects a collective recognition of the potential of ultra-high-speed and dependable connectivity, meeting the burgeoning demand for seamless digital experiences. Moreover, the embracement of 6G networks for smart city initiatives further propels market growth, underscoring the technology's role in shaping future urban landscapes. As governments and enterprises commit resources to advance telecommunications infrastructure, the stage is set for a transformative era of connectivity, promising not just faster data speeds but also fostering innovation across diverse sectors, from healthcare to transportation and beyond.
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This market research and growth report extensively covers market segmentation by component (hardware, and software and services), type (wireless and fixed), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The report also covers an in-depth analysis of drivers, trends, and challenges.
The market is poised for exponential growth, driven by the demand for cutting-edge mobile standards and services. With a focus on low latency networks and enhanced energy efficiency, 6G promises to revolutionize wireless connectivity, enabling transformative applications like autonomous vehicles, smart factories, and precision healthcare. Key trends include advancements in communication systems, frequency bands, and communication topologies, facilitating dynamic insights and cognitive capabilities. However, challenges such as ensuring secure reliability and addressing the complexity of deploying base stations and modules remain pivotal for realizing the full potential of 6G technology.
One of the key factors driving the market growth is the rising investments in 6G networks by governments and market players. There is an increasing focus on the deployment of 6G services by device makers, service providers, and network operators, along with monetization techniques, prospective business models, and customer desires. In addition, several market players and governments are aiming for smooth transition and interoperability while taking the cohabitation of 6G with current network technologies into account.
For instance, the Indian government declared the official 6G testbed project and India's 6G mission to facilitate research on new network technologies, which anticipates a focused initiative for next-generation technology in India. Hence, such initiatives by the government and market players are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the market growth is the growing adoption of smartphones and the demand for better connectivity. There is increasing penetration of smartphones and the Internet across the globe and people are highly dependent on smartphones for various tasks. The growth of smartphone penetration has led to an increase in online sales and gaming, as well as the use of social media platforms.
Moreover, the increasing adoption of smartphones has led to higher expectations for consumers regarding the ease of operations and greater interaction between devices. Factors such as the rising demand for data services coupled with consumer demand for high-speed Internet are expected to fuel the growth of 6G technology across the globe. Hence, such factors are expected to drive market growth during the forecast period.
The threat of cybersecurity breaches for 6G networks is one of the key challenges hindering market growth. The increasing adoption of 6G networks will enable communication among connected devices that are present in autonomous cars, electronic healthcare, smart cities, and building and home automation. However, there are significant cyber security threats associated with the deployment of 6G networks.
Moreover, some of the key cyber security threats include hacking of connected devices to steal consumer data and breaches across multiple devices to create a distributed denial of service (DDoS) attack on critical target servers.DDoS, man-in-the-middle attacks, and network slice attacks are some of the major threats associated with 6G networks. Hence, such factors can negatively impact the market which in turn will hinder the market during the forecast period.
Global mobile standard technologies like 4G/LTE services have revolutionized wireless networks, offering low latency and high data rates. These advancements are critical for supporting emerging technologies such as autonomous vehicles and smart factories, where dependability, scalability, and secure reliability are paramount. With an emphasis on energy efficiency and volumetric capacity, communication systems are evolving to meet the demands of modern applications, from precision healthcare to dynamic insights in various sectors. Frequency bands and communication topologies play crucial roles in optimizing wireless connectivity, while base stations, modems, and modules ensure seamless integration and operation within communication networks. As the industry progresses, cognition and imaging capabilities are poised to further enhance wireless communication systems.
The hardware segment is estimated to witness significant growth during the forecast period. The growing demand for hardware devices, including sensors, actuators, gadgets, appliances, or machines, that are programmed for certain applications and can transmit data over the Internet or other networks is significantly fuelling the growth of this segment. The hardware segment is used to create a a system of linked devices that offer real-time analytics data, which enable the transfer of information through the same network.
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Enhancing machine-to-machine (M2M) communications increases the reliability and effectiveness of hardware devices. The main operation of the 6G network is in untapped radio frequencies, which leverage cognitive technologies, including AI, to enable high-speed, low-latency communication at a pace multiple times faster than fifth-generation networks. There is an increase in research and development on 6G technologies which is expected to fuel the growth of the market. Hence, such factors are expected to fuel the growth of this segment, which in turn will drive the market during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There is an increasing adoption of Internet of Things (IoT) technology across various industries in North America mainly in developed countries such as the US and Canada. One of the main factors that is significantly contributing to the growth of the market in North America is the growing adoption of wireless technologies in the US.
Additionally, the region is an early adopter of new and advanced technologies. As a result, the data traffic in North America is higher when compared to other regions. Additionally, there are several projects of 6G deployment which are being undertaken across many regions in North America which is expected to significantly contribute to the market growth. Hence, such factors are expected to drive the market growth in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AT and T Inc: The company offers 6G solutions which represents an even greater opportunity to extend wireless solutions into almost every facet of human and machine interaction.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market growth and forecasting research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
In the ever-evolving landscape of communication infrastructure, 6G emerges as the next frontier, promising unparalleled energy efficiency and volumetric capacity. With intelligence and sensing capabilities, 6G networks enable remarkable agility, facilitating seamless connectivity across diverse devices and applications. Key components like modems, routers/hubs, and chipsets, along with advanced antennas, form the backbone of these networks. Set to redefine connectivity, 6G introduces groundbreaking concepts like Digital Twins and the Internet of Everything (IoE), ushering in a new era of AI operations and intelligent networks. From XR to AR/MR/VR spectrum, 6G promises low latencies and fully immersive experiences, catering to diverse engineering and perceptual needs. As we anticipate 5G use cases and 6G applications, ubiquitous ultra-mobile broadband becomes a reality, transforming industries like industrial automation and beyond.
Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 51.15% |
Market growth 2023-2027 |
USD 36.39 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
42.78 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anritsu Corp., Apple Inc., AT and T Inc., Broadcom Inc., Cisco Systems Inc., DeepSig Inc., Furukawa Electric Co. Ltd., Huawei Technologies Co. Ltd., InterDigital Inc., Keysight Technologies Inc., LG Electronics Inc., MediaTek Inc., National Instruments Corp., NEC Corp., Nippon Telegraph and Telephone Corp., Nokia Corp., Orange SA, Reliance Industries Ltd., Samsung Electronics Co. Ltd., and Telefonaktiebolaget LM Ericsson |
Market dynamics |
Parent market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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