June 25, 2024
ICT

6G Market Size to Grow USD 46.20 Billion by 2033

The global 6G market size accounted for USD 5.40 billion in 2023 and is predicted 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 poised to be the next significant leap in telecommunications technology, promising transformative changes across various industries and daily life. As the successor to 5G, 6G aims to offer faster speeds, lower latency, and more reliable connectivity, enabling advanced applications such as immersive augmented and virtual reality, ultra-high-definition streaming, and real-time interactive services. 6G technology is still in its early development stages, with commercial deployment expected around the 2030s. It will leverage new frequency bands, including terahertz waves, to deliver unprecedented data transfer rates and capacity. The technology is expected to revolutionize industries like healthcare, transportation, smart cities, and manufacturing through advanced use cases such as autonomous systems and AI-driven applications.

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Growth Factors:

The growth of the 6G market will be driven by the increasing demand for high-speed internet and data-intensive applications. Other factors include advancements in AI and machine learning, growing investment in research and development, and the need for more reliable and secure communication networks.

Region Insights:

Different regions are likely to experience varying levels of adoption and impact from 6G technology. In developed regions such as North America, Europe, and parts of Asia, there is a strong foundation for early 6G adoption due to existing 5G infrastructure and strong research ecosystems. In contrast, emerging economies may take longer to realize the benefits of 6G.

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:

Key drivers of the 6G market include the increasing demand for seamless connectivity in smart devices, the rise of Industry 4.0 and automation, and the need for advanced technologies to support emerging use cases like holographic communication and remote surgery.

Opportunities:

The 6G market presents numerous opportunities for companies to innovate and expand their offerings. This includes developing new devices, services, and applications tailored to 6G capabilities. Additionally, there will be opportunities for network operators to invest in infrastructure upgrades and for manufacturers to create advanced equipment.

Challenges:

The development and implementation of 6G technology face several challenges. These include high research and development costs, regulatory hurdles, and the need for standardization across regions and industries. Additionally, ensuring the security and privacy of 6G networks will be critical given the increased data transmission and connectivity involved.

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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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