6G Market to Grow at CAGR of 30% through 2033; Robust Ecosystem of Telecom Operators, Equipment Manufacturers, Tech Companies & Research Institutions to Propel Growth

The global 6G market size is anticipated to grow from USD 5 billion to USD 68.92 billion in 10 years. The market will experience rapid growth due to technological advancements and innovations in 6G during the forecast period. North America emerged as the most significant global 6G market, with a 41% market revenue share in 2023.

Newark, April 22, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 5 billion in 2023 global 6G market will reach USD 68.92 billion in 2033. Sixth-generation (6G) wireless technology will replace Fifth Generation (5G). It promises to revolutionize communication networks with higher capacities, reduced latency, faster data rates, and more sophisticated features. 6G is expected to function at frequencies higher than 5G, possibly even in the terahertz region, allowing for far faster data transfer rates. This development may lead to higher data rates than tens of gigabits per second, enabling ultra-low latency transmission and instantaneous downloads. The emphasis placed on artificial intelligence (AI) integration in 6G is one of its distinguishing characteristics. AI algorithms can increase efficiency by automating numerous tasks, predicting user behaviour, and optimizing network performance. Advanced antenna technologies, including massive multiple-input multiple-output (MIMO) systems and intelligent reflecting surfaces (IRS), will also be used in 6G. Reliability, coverage, and signal strength can all be improved using these technologies. 6G has the potential to facilitate novel applications and services that were previously unfeasible or unimaginable, like interactive virtual and augmented reality, real-time holographic communication, and tactile internet encounters. 6G has a wide range of potential uses in manufacturing, entertainment, transportation, and healthcare industries.

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Report Coverage Details

Report Coverage Details
Forecast Period 2024–2033
Base Year 2023
Market Size in 2023 USD 5 Billion
Market Size in 2033 USD 68.92 Billion
CAGR 30%
No. of Pages in Report 237
Segments Covered Devices, Application and End User
Drivers The increasing demand for faster internet services to facilitate data-intensive applications
Opportunities Technological advancements expanding 6G applications

Key Insight of the Global 6G Market

North America will dominate the market during the forecast period.

Renowned technology businesses, academic centres, and research institutes are located in the region, propelling advancements in wireless communication technologies. Innovation in North America is fueled by significant investments in R&D projects by governments, regulatory agencies, and the business sector. North America enjoys advantageous spectrum rules and regulatory frameworks supporting innovative wireless technologies. To promote innovation, the area also boasts a strong ecosystem of telecom providers, equipment producers, technological firms, and academic institutions working together.

In 2023, the mobile devices segment dominated the market, with a 40% market share and revenue of 2 billion.

The devices segment is divided into mobile devices, IoT and edge computing devices, and other devices. In 2023, the mobile devices segment dominated the market, with a 40% market share and revenue of 2 billion.

In 2023, the connected robotics and autonomous systems segment dominated the market, with a 38% market share and revenue of 1.90 billion.

The application segment is divided into multisensory XR applications, connected robotics and autonomous systems, wireless brain-computer interactions, digital twins, smart cities, the Internet of Everything, blockchain and DLT, and others. In 2023, the connected robotics and autonomous systems segment dominated the market with a 38% market share and revenue of 1.90 billion.

In 2023, the industrial and enterprise segment dominated the market, with a 47% market share and revenue of 2.35 billion.

The end-user segment is divided into government, industrial and enterprise, and consumer. In 2023, the industrial and enterprise segment dominated the market with a 47% market share and revenue of 2.35 billion.

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Advancement in market

The Swedish vendor Ericsson has announced two distinct developments with Turkish carriers to work together on various projects, such as 6G and 5G-Advanced (5G-A). First, at the most recent Mobile World Congress in Barcelona 2024, Ericsson and Türk Telekom inked a Memorandum of Understanding (MoU) to work together on investigating the 6G ecosystem and its application areas. Turk Telekom stated that as part of the newly initiated agreement, it will create 6G initiatives. Ericsson Research Turkey and Türk Telekom will collaborate in developing future wireless communication technology through collaborative research and development projects in Turkey and internationally. Ericsson is a leading research site and the only centre in the Middle East and Africa (MMEA) region.

Market Dynamics

Driver: The growing need for quicker internet access.

The increasing popularity of data-intensive applications such as cloud gaming, augmented reality, and 8K video streaming calls for increased bandwidth and quicker internet rates. Reliable and fast connectivity is also necessary for the spread of IoT devices in order to meet their various needs. Faster communication networks are required because emerging technologies like artificial intelligence (AI), machine learning, and edge computing depend on real-time data processing. The demand for 6G, which offers reliable connectivity options, is further increased by the acceptance of telemedicine and remote work. High-speed, low-latency networks are also necessary for autonomous cars to communicate and coordinate in real-time. To facilitate smart energy grids, public services, smart transportation, and smart cities, sophisticated communication infrastructure is needed. 6G technology promises higher data rates, reduced latency, increased dependability, and improved capabilities to satisfy these changing needs. Thus, the expansion of the global 6G market would be driven by the growing need for faster internet services to support data-intensive applications used in various sectors.

Restraints: The intricacy of 6G technology.

Optimizing advanced antenna systems for terahertz frequency range operation is necessary. Terahertz frequencies are vulnerable to environmental interference, signal attenuation, and air absorption. Therefore, effective modulation and signal processing techniques must be devised to maximize spectral efficiency and guarantee dependable communication in dynamic situations. Complex network architecture design calls for careful planning and optimization. The establishment of worldwide standards is necessary to guarantee device interoperability. Furthermore, achieving the full potential of 6G technology requires innovation in network architecture, signal processing, antenna design, and standardization initiatives. Before 6G is deployed for commercial usage, these changes are complicated, need a lot of planning, and will slow down the market’s expansion.

Opportunities: Technological developments increasing the use of 6G applications.

Higher data rates and reduced latency are made possible by antenna design, signal processing, and spectrum utilization advancements. These developments set the stage for 6G networks to reach previously unheard-of performance levels and meet the expanding need for more dependable and quick connectivity. Government investments and activities are essential for speeding up the development of 6G. To promote cooperation between academic institutions, research institutes, and industrial partners, governments everywhere are funding R&D initiatives. These programmes guarantee that nations maintain competitiveness in the international telecom market by offering financing, research grants, and regulatory support to encourage innovation and technological growth. Industry collaborations are crucial to promote innovation and standardization in the 6G ecosystem. Therefore, throughout the projected period, the market’s expansion will be augmented by technical advances and innovations that are driven by support from both public and private stakeholders.

Challenges: The lack of Infrastructure.

The supporting infrastructure to effectively deploy 6G is underdeveloped or developing in most parts of the world. For instance, deploying a dense network of base stations is essential to provide comprehensive coverage and deliver high-speed connectivity to every remote corner and consumer. This necessitates careful placement and optimization of infrastructure. Establishing high-speed, low-latency backhaul links requires significant investment in fibre-optic cables, wireless solutions, and satellite communication systems to ensure seamless connectivity. Ensuring a reliable power supply to support continuous network operation is also imperative. Integrating advanced functionalities of 6G into existing infrastructure demands careful planning, investment, and coordination among stakeholders. Therefore, the lack of infrastructure will significantly challenge the market’s growth.

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Some of the major players operating in the global 6G market are:

• AT&T
• Cisco
• Ericsson
• Huawei Technologies Co. Ltd.
• Keysight Technologies
• LG Electronics
• Nokia
• Qualcomm Technologies, Inc.
• Samsung Electronics
• Intel Corporation

Key Segments covered in the market:

By Devices

• Mobile Devices
• IoT and Edge Computing Devices
• Other Devices

By Application

• Blockchain and DLT
• Connected Robotics and Autonomous Systems
• Digital Twins
• Internet of Everything
• Multisensory XR Applications
• Smart Cities
• Wireless Brain-Computer Interactions
• Others

By End User

• Government
• Industrial and Enterprise
• Consumer

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

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