Growth in the next-generation advanced 6G is being driven by the high emphasis on low latency networks for specific applications, growing adoption of internet services and edge computing devices, growth of smart technologies, increased emphasis on satellite communication, and development of new low loss material for advanced networks. 6G is the sixth generation of cellular networks and wireless technology, which will be able to use higher frequency bands to enhance the reliability, security, and performance of network connectivity. It would enable cloud-based networking technology to deliver record-breaking speeds and microsecond latency in the speed of data that flows from data centers to devices.
The 6G market is projected to be $1.58 billion in 2028, and it is expected to grow at a CAGR of 103.35% and reach $1,293.19 billion by 2035.
The 6G market is currently in the development stage, and the 5G market is striving toward a smart future with the automation of processes and systems across industries. Companies in the telecommunication and device industry have been developing and implementing various solutions in the next-generation advanced 6G. Apart from these driving factors, some restraining factors are anticipated to impact the growth of the market, such as the slower transition from the older communication generation, very large investment requirements, and data security and privacy threats curbing the development and growth of 6G technology. Catering to the growing demand for 6G, many research and development activities are going on to lower the latency rate and develop new technological solutions with collaborations and partnerships between key companies in the value chain.
In this report, different material types used for 6G, namely, plastics and resins, ceramics and composites, glass, semiconductors, and others, have been considered. Among these, plastics and resins are projected to be the largest consumed type in various material types in the 6G market. At present, North America is estimated to be the most prominent region utilizing 6G, followed by China and Europe. Wireless infrastructure is expected to be one of the major communication infrastructures for 6G owing to its advantages over other technologies.
The 6G market is expected to show high growth in the forecast period from 2029-2035. The demand for 6G is expected to increase owing to the adoption of smart technologies and industrial automation. Telefonaktiebolaget LM Ericsson, Verizon, Nokia Corporation, Apple Inc., Huawei Technologies Co., Ltd., MediaTek Inc., DuPont, and Samsung Electronics Co., Ltd. are some of the key players operating in the global 6G market. The following table presents an overview of the global 6G market, along with a summary of the different segmentations covered in this research study.
Industrial and Enterprise Segment to Dominate the 6G Market (by Application)
Among different 6G applications, industrial and enterprise is expected to be the largest application during the forecast period 2029-2035. The 6G market is expected to be dominated by industrial and enterprise applications. There has been a common move in leading industries toward digitization. Many leading industries are expected to benefit from the 6G communication standard for better operations in the industry.
Communication Infrastructure to Dominate the 6G Market (by Product)
The 6G market (by product) is expected to be dominated by communication infrastructure owing to the recent inclination in the technology industry over wireless infrastructures. Also, it is expected that fixed-line infrastructure will still be available at the time of 6G technology, owing to its importance in privacy and security devices.
North America to Dominate the 6G Market (by Region)
North America is expected to drive the 6G market in the initial years, owing to the ongoing research and development activities in the region on 6G. The region is expected to be followed by China and Europe. Europe and China-based companies such as Nokia Corporation and Huawei Technologies have been working on the research and development of the 6G telecommunication standard.
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Recent Developments in the 6G Market
- In June 2023, Keysight Technologies introduced PathWave Advanced Design System (ADS) 2024, which can accelerate 5G mmWave product design and foresee requirements for 6G wireless communications development.\
- In April 2023, Telefonaktiebolaget LM Ericsson and the government of Canada announced plans to invest around $350 million in research and development centers in Ottawa, Ontario, and Montreal, Quebec facilities.
- In March 2023, Resonac Holdings Corporation announced plans to start development of new semiconductor materials for 6G at the newly opened innovation base.
- In February 2023, Nippon Telegraph and Telephone Corporation announced a collaboration with Telefonaktiebolaget LM Ericsson and Keysight Technologies for the expansion of 6G.
- In February 2023, Nokia Corporation announced that the company had achieved two key technological milestones in 6G, with partners NTT Corporation and NTT Docomo, Inc.
