May 26, 2024
ICT

6G Market Size to Reach USD 46.20 Billion by 2033

The global 6G market size reached USD 5.40 billion in 2023 and is anticipated to attain around USD 46.20 billion by 2033, expanding at a CAGR of 23.94% from 2024 to 2033.

Key Points

  • The North America 6G market size reached USD 1.73 billion in 2023 and is expected to hit around USD 14.77 billion by 2033
  • North America holds the largest share of 39% in the global 6G market in 2023.
  • Asia Pacific is the fastest-growing region in the global market.
  • By Infrastructure, wireless segment has accounted 80% revenue share in 2023.
  • By vertical, the manufacturing segment held the largest share of the market.
  • By application, the multisensory extended segment dominated the market in 2023.
  • By deployment devices, the smartphone segment dominates the market globally.

6G Market Size 2024 to 2033

The 6G market is a rapidly evolving sector poised to revolutionize wireless communication technology. As the successor to 5G, 6G promises to offer even faster data transfer speeds, lower latency, and more efficient connectivity. It is expected to bring transformative changes to various industries, including telecommunications, healthcare, transportation, and entertainment.

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Growth Factors

Key growth factors in the 6G market include advances in artificial intelligence (AI), machine learning, and edge computing. The increasing demand for high-speed connectivity, particularly in urban and densely populated areas, will drive the adoption of 6G technology. Additionally, the rise of the Internet of Things (IoT) and smart cities will create a strong need for more reliable and efficient networks.

Region Insights:

Region-specific analysis is essential for understanding the 6G market dynamics. Developed regions like North America and parts of Europe are expected to lead in early adoption and infrastructure development. Meanwhile, emerging economies in Asia and Africa may experience rapid growth due to increasing demand for connectivity and investment in digital infrastructure.

6G Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 23.94%
Global Market Size in 2023 USD 5.40 Billion
Global Market Size in 2024 USD 6.69 Billion
Global Market Size by 2033 USD 46.20 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Vertical, By Application, By Deployment Device, By Communication Infrastructure, and By Component
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

6G Market Dynamics

Drivers:

Major drivers for the 6G market include the need for seamless connectivity for emerging technologies such as autonomous vehicles, augmented reality (AR), and virtual reality (VR). Moreover, the push for enhanced network security and resilience is also motivating research and development in 6G technology.

Opportunities:

Opportunities in the 6G market abound for companies that can innovate and create new applications for the technology. The integration of 6G with AI, blockchain, and quantum computing can lead to groundbreaking advancements. Additionally, cross-industry collaborations can open up new possibilities for enhancing connectivity and efficiency.

Challenges:

The 6G market faces several challenges, including the need for significant investment in research and infrastructure development. Additionally, regulatory hurdles and spectrum allocation issues may arise as countries vie to lead the 6G race. Ensuring data security and privacy will also be critical as 6G enables more complex and interconnected systems.

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6G Market Recent Developments

  • In February 2024, the U.S., Australia, Canada, the Czech Republic, Finland, France, Japan, South Korea, Sweden, and the UK released a joint statement stating that they support a set of shared principles for 6G for open, free, global, interoperable, reliable, resilient, and secure connectivity.
  • In 2023, Nagoya University from Japan reported the successful fabrication of three-dimensional waveguides with niobium metal, which is basically a highly superconductive material that minimizes attenuation due to absorption and radiation, for transmission of waves in the 100GHz frequency band, deemed useful in 6G networking.
  • In January 2022, Purple Mountain Laboratories of China claimed that its research team had achieved a world record of 206.25 gigabits per second (Gbit/s) data rate for the first time in a lab environment within the terahertz frequency band, which is supposed to be the base of 6G cellular technology.

6G Market Companies

  • Huawei Technologies Co., Ltd.
  • Nokia Corporation
  • Samsung Electronics Co., Ltd.
  • Ericsson
  • Qualcomm Incorporated
  • Intel Corporation
  • Cisco Systems, Inc.
  • Apple Inc.
  • ZTE Corporation
  • Mitsubishi Electric Corporation

Segments Covered in the Report

By Vertical

  • Agriculture
  • Educational and Entertainment
  • Manufacturing
  • Public Safety

By Application

  • Multisensory Extended Reality
  • Blockchain
  • Autonomous and Robotic Systems
  • Distributed Sensing and Communication
  • Others

By Deployment Device

  • Smartphones
  • Tablets
  • Wearables
  • Internet of Things
  • Others

By Communication Infrastructure

  • Wireless
    • Mobile Cellular
    • Mobile Broadband
  • Fixed

By Component

  • Hardware
  • Software
  • Services

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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