Kings Research published a new report on 6G Market Size, Share, Growth, Industry Trends & Forecast 2031, covering various industry elements and growth trends helpful for predicting the industry future. Global 6G Market was estimated at USD 5.89 billion in 2023 and is expected to increase at a compound annual growth rate (CAGR) of 33.54% from 2024 to 2031, reaching USD 59.44 billion.
Europe is expected to grow significantly between 2024 and 2031 at a compound annual growth rate (CAGR) of 33.28% because of its strong commitment to digitization, strong ecosystem for research and innovation, and proactive regulatory framework. Member states of the European Union are heavily investing in next-generation communication technologies, such as 6G, as the EU views digital transformation as a critical component of economic growth and competitiveness.
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List of Key Companies in 6G Market
- Samsung
- Telefonaktiebolaget LM Ericsson
- Nokia
- Huawei Technologies Co., Ltd.
- Fujitsu
- AT&T
- Cisco Systems, Inc.
- Keysight Technologies
- DeepSig Inc.
- NEC Corporation
Regional Insights: -
- North America: Currently, North America holds the largest market share, attributed to substantial investments in research and development, along with a strong presence of leading technology companies.
- Asia-Pacific: Forecasted to be the fastest-growing region, Asia-Pacific is expected to achieve a CAGR of 34.36% from 2024 to 2031. The region's market value is projected to reach USD 14.27 billion by the end of the forecast period, driven by robust technological advancements and expanding mobile network infrastructure.
Key Drivers and Market Dynamics:
- Government Investments: Significant government funding in next-generation network infrastructure is a primary driver, facilitating advancements in communication technologies.
- Technological Innovation: Continuous innovation in mobile and IoT devices, along with advancements in edge computing, is propelling market expansion.
- Increased Connectivity Needs: The exponential growth of connected devices and the demand for high-speed, low-latency communication are further accelerating the adoption of 6G technologies.
6G Market is Segmented as:
By Device: -
- Mobile Devices
- IoT and Edge Computing Devices
- Others
By Vertical: -
- Agriculture
- Automotive
- Educational & Entertainment
- Healthcare
- Government
- Manufacturing
- Others
Implications for Businesses and Consumers
The advent of 6G will have far-reaching implications for both businesses and consumers. For enterprises, 6G will unlock new opportunities for digital transformation, enabling the adoption of advanced technologies such as AI, IoT, and blockchain. Enhanced connectivity will facilitate seamless remote work, real-time data analytics, and innovative business models, driving productivity and efficiency gains across industries.
Consumers, on the other hand, will experience a new era of digital experiences characterized by ultra-fast internet speeds, immersive AR/VR applications, and smart home ecosystems. The widespread availability of 6G will bridge the digital divide, ensuring that even underserved and remote areas have access to high-speed internet and digital services.
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