6G Market size from USD 5.1 billion in 2023 to
USD 40.2 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 34.2%
during the forecast period, according to report published by
MarketsandMarkets.
6G market growth is driven by the need for faster data rates and
network capacity to enable new technologies and applications. The growth of IoT
in sectors like healthcare, manufacturing, transportation, and smart cities is
driving the demand for 6G networks to support the massive influx of IoT devices
and enable seamless communication and data exchange. As a result, the IoT
devices segment is expected to play a significant role in driving the growth of
the 6G market in the coming years.
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By deployment device, Internet of Things (IoT) devices are
expected to register the fastest growth rate during the forecast period.
With the increasing adoption of IoT across
various industries, there is a growing need for reliable and high-speed
connectivity to support the massive number of connected devices. 6G technology,
with its ultra-low latency, high bandwidth, and enhanced network capabilities,
is well-suited to meet the demands of IoT applications. IoT devices like
sensors, smart appliances, and industrial equipment require seamless
connectivity and real-time data transmission for efficient operations and
decision-making. The growth of IoT in sectors like healthcare, manufacturing,
transportation, and smart cities is driving the demand for 6G networks to
support the massive influx of IoT devices and enable seamless communication and
data exchange. As a result, the IoT devices segment is expected to play a
significant role in driving the growth of the 6G market in the coming years.
By application, distributed sensing and communications segment to
dominate the market during the forecast period.
The distributed sensing and communications
segment is projected to hold the largest market share during the forecast
period. Distributed sensing and communications use advanced technologies and
networks to enable real-time data collection, analysis, and communication
across various industries and sectors. This application segment is expected to
grow significantly due to the increasing demand for high-speed, reliable, and
low-latency connectivity to support a wide range of applications such as smart
cities, industrial automation, environmental monitoring, and healthcare.
Distributed sensing and communications in the 6G network enable the seamless
integration of diverse devices and sensors, allowing for efficient data
transmission and decision-making.
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Asia Pacific likely to emerge as the fastest-growing market during
the forecast period
The region's rapid growth can be attributed to several factors,
including the increasing adoption of advanced technologies, rising investments
in research and development, and a strong focus on digital transformation.
Countries like China, Japan, South Korea, and India are at the forefront of
technological advancements and actively working to establish themselves as
leaders in the 6G market. These countries have robust telecommunications
infrastructure, a large consumer base, and a thriving ecosystem of technology
companies, which provides a conducive environment for the growth of 6G
technology.
Top Key Players:
The major vendors covered in the 6G market include AT&T (US),
Broadcom (US), Cisco (US), DeepSig (US), Ericsson (Sweden), Fujitsu (Japan), Google
(US), Huawei (China), InterDigital (US), Keysight (US), LG Corporation (South
Korea), MediaTek (Taiwan), National Instrument Corp (US), NEC Corporation
(Japan), Nokia (Finland), NTT DoCoMo (Japan), Orange (France), Qualcomm (US),
Reliance Jio (India), Samsung (South Korea), SK Telecom (South Korea), Sony
(Japan), T-Mobile (US), Verizon (US), China Mobile (China), ZTE (China).
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