6G Market: Current Analysis and Forecast (2023-2030)

Report Description

The 6G Market was valued at 4.8 billion in the year 2022 and is expected to grow at a strong rate of around 35.27 % during the forecast period (2023-2030), owing to the increased low latency and ultra high-speed data demand, as well as rising hyperconnectivity and development of advanced network architecture. Furthermore, with the huge number of connected devices, Internet of Things (IoT) applications, and data-intensive technologies like virtual reality, augmented reality, and autonomous vehicles, there is a need for faster and more responsive networks. 6G aims to provide ultra-high-speed connectivity with speeds exceeding 100 Gbps, and extremely low latency, enabling real-time interaction and seamless user experience. Moreover, industries are undergoing rapid digital transformations, and the integration of emerging technologies like artificial intelligence, machine learning, edge computing, and robotics is becoming ubiquitous. 6G is expected to revolutionize industries by offering enhanced connectivity, massive data handling capabilities, and distributed computing, enabling more efficient and autonomous operations in various sectors, including healthcare, manufacturing, transportation, and agriculture.  For instance, in May 2023, Dell a technology company, announced the launch of an Open Telecom Ecosystem Lab in Ireland. The lab has been set up for the testing and deployment of 5g and 6g innovations in areas such as smart manufacturing, industry 4.0, and digital cities.

Some of the major players operating in the market include AT&T; Broadcom; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; Google; Huawei Technologies Co., Ltd.; Nokia; NTT DOCOMO; Orange; and Verizon. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Deployment Devices, the Smartphone Segment will Witness an Evolutionary Shift with the 6G Technology.”

Based on deployment devices, the market is segmented into smartphones, tablets, wearables, internet of Things (IoT) devices, and others. The smartphone is going to be the biggest beneficiary of the 6G technology. Given the potential to provide ultra-high speed and low latency connectivity, 6G technology may support advanced functions like augmented reality, virtual reality, and holographic communication. These technologies can greatly enhance user experience across multiple devices, but smartphones will be the first to witness an evolutionary change, as their widespread penetration and constant demand for faster and more reliable internet connectivity, make them the primary beneficiary of the 6G technology.

“Amongst Applications, the Multi-Sensory Extended Reality is Anticipated to Grow at a Significant CAGR during the forecast period (2023-2030).”

Based on application, the market is segmented into multi-sensory extended reality, network-enabled robotic and autonomous systems, blockchain, distributed sensing and communication, and other applications. The multi-sensory extended reality (XR) is the potential dominant for the 6G application. With multi-sensory XR, users can experience virtual, augmented, and mixed reality with enhanced sensory inputs, including haptic feedback, smell, taste, and touch. This technology could revolutionize multiple sectors such as gaming, entertainment, education, healthcare, and remote collaboration. The ability to immerse oneself in virtual environments with heightened sensory experiences could have significant market potential. Additionally, network-enabled robotic and autonomous systems are expected to play a crucial role in various industries, including manufacturing, logistics, healthcare, agriculture, and disaster response. They have the potential to enhance efficiency, productivity, and safety by enabling advanced automation and remote control of robots and autonomous vehicles. This application could have substantial real-life applications and benefits for humanity, particularly in areas such as labor-intensive industries, healthcare support, and hazardous environments.

“Asia Pacific has emerged as one of the fastest growing regions in the 6G Technology during the forecasted period (2022-2030).”

In recent years, Asia Pacific is emerged as the fastest-growing region for 6G in the market. In the ongoing race to develop advanced telecommunications technology, China has made substantial strides in establishing itself as a frontrunner in the development of 6G. Fueled by the unwavering support of the Chinese government and the dominance of Chinese companies in the 6G race, the nation is steadily outpacing the United States and other countries in this crucial technological arena.  Furthermore, Chinese companies have emerged as leaders in the development of 6G technology, further pushing China to the forefront of this race. Major telecommunications giants like Huawei, ZTE, and Xiaomi are actively engaged in research and development efforts, investing heavily in advancing 6G networks. These companies possess the necessary expertise, the scale of operations, and the extensive resources to undertake large-scale experiments and propel the technology forward. For instance, in January 2022, Purple Mountain Laboratories, a Chinese government-supported lab announced that it had achieved a 6G level wireless transmission up to the speed of 206.25 gigabits per second and claimed that this has been achieved for the first time anywhere in the world.

6G Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global 6G market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Frequently Asked Questions (FAQ)

Research Methodology

Research Methodology for the 6G Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global 6G market were the three major steps undertaken to create and analyze the adoption of 6G in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global 6G market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the 6G market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the 6G market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as deployment device, application, and vertical. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the 6G market. Further, we conducted factor analysis using dependent and independent variables such as deployment device, application, and vertical of the 6G market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the 6G market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global 6G market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the 6G market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global 6G market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global 6G market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of the deployment device, application, and vertical in the global 6G market.

The main objective of the Global 6G Market Study

The current & future market trends of the global 6G market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the 6G market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of deployment device, application, and vertical.
• Define and analyze the regulatory framework for the 6G
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the 6G market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the 6G market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team