The 6G market is anticipated to grow at a CAGR of 40.2% during the forecast period (2024-2031). There is a growing demand for faster and more dependable networks to accommodate a variety of applications as the world becomes more connected and dependent on digital technologies, real-time communication, streaming high-definition information, and powering cutting-edge innovations like autonomous vehicles and smart cities. By offering ultra-high speeds, low latency, and seamless connectivity, 6G technology seeks to match this need, revolutionizing industries and increasing the overall digital experience for both individuals and companies.
For instance, in June 2023, a new phased-array transmitter module for 6G wireless communication has been developed by NTT Corporation. This is the world’s first beamforming wireless data transmission in the 300 GHz band. This technology will enable instantaneous ultra-high-capacity data transmission to mobile receivers. Businesses such as healthcare, transportation, fabricating, and excitement can use the control of 6G to improve proficiency, make strides in efficiency and convey immersive encounters. Additionally, the presentation of 6G innovation can empower the rise of modern trade demonstrate, encouraging novel income streams and financial development. the opportunity lies in tackling the total potential of 6G innovation to drive development, disturb conventional businesses, and make modern esteem extents for trade and consumers. For instance, in May 2022, Capgemini announced an innovative joint research project with King’s College London to explore the possibilities opened by 6G, focusing on developing new architecture frameworks to enable ultra-large coverage, AI native, and sustainable 6G networks. The new lab will build on this initial work by taking a step towards developing and showcasing the extensive possibilities of 6G, as a key lever of energy-efficient and data-driven intelligent industry.
Another factor supporting the market growth includes the growing adoption of strategic initiatives by various market key players. For instance, in October 2022, the European Commission (EC) established Hexa-X-II, the second phase of the EC’s flagship 6G initiative. This new phase will see the Hexa-X partner list grow to 44 organizations tasked with developing the pre-standardized platform and system view that will serve as the foundation for many future 6G standardization inputs. Nokia will be the project leader for Hexa-X-II. Ericsson is appointed technical manager for Hexa-X-II. Orange, Telecom Italia, TU Dresden, University of Oulu, IMEC, and Atos will assist in the coordination of various work packages, including radio evolution and innovation, future devices, and flexible infrastructure, smart network management and values, and requirements and ecosystem. The Hexa-XII project is set to begin on January 1st, 2023. It is an ambitious task that is expected to take 2.5 years.
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Competitive Landscape- includes Google LLC, Huawei Technologies Co. Ltd, Samsung Electronics, AT&T Inc., Cisco Systems, Inc., Nokia Corporation, Qualcomm Technologies Inc., and others.
6G Market Report Segment
By Deployment Device
- Smartphone
- Tablets
- Wearables
- IOT Devices
- Others (Laptops & Computers)
By Application
- Distributed Sensing and Communication
- Blockchain
- Multisensory Extended Reality System
- Connected Robotics and Autonomous
By Industry Vertical
- Agriculture
- Education
- Healthcare
- Entertainment
- Automotive
- Public Safety
- Manufacturing
- Others (Aerospace & Defense, Transportation, Financial Services)
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Company Profiles
- Apple Inc.
- Broadcom, Inc.
- Cisco Systems, Inc.
- Google LLC
- Intel Corp.
- LG Electronics Inc.
- Nokia Corp.
- NTT DOCOMO, Inc.
- OrangeHRM Inc.
- Qualcomm Technologies, Inc.
- Reliance Jio Infocomm Ltd.
- Telefonaktiebolaget LM Ericsson
- Verizon Communications Inc.
- ZTE Corp.
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