6G Market size was over USD 5.5 billion in 2023 and is predicted to cross USD 89.1 billion by the end of 2036, witnessing more than 26.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of 6G is evaluated at USD 6.8 billion.
The widespread adoption of 6G among the younger generation of internet users is expected to drive market expansion. The integration of advanced cutting-edge technologies like augmented reality, artificial intelligence, and virtual reality in the 6G network attracts users who frequently use online content and interactive media. Also, incorporating 6G across various sectors such as gaming, healthcare, and education increases its popularity among young users. A 2022 report published by the International Telecommunication Union estimated that about 71% of the young population aged 15-24 are avid Internet users, as compared to 57% of the rest of the population.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
26.1% |
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Base Year Market Size (2023) |
USD 5.5 billion |
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Forecast Year Market Size (2036) |
USD 89.1 billion |
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Regional Scope |
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Vertical (Manufacturing, Agriculture, Educational and Entertainment, Public Safety)
Manufacturing segment is set to account for more than 38.1% 6G market share by the end of 2036. The segment growth is attributed to the seamless integration of a large number of IoT devices into manufacturing facilities. This includes smart devices, sensors, and actuators that collect and transmit data in real-time, enabling predictive maintenance, asset tracking and inventory management. A 2023 survey findings revealed that more than three out of five manufacturers (60%) integrated IoT technologies in their manufacturing processes.
Application (Multisensory Extended Reality, Blockchain, Autonomous and Robotic Systems, Distributed Sensing and Communication)
The multisensory extended reality segment is estimated to be the highest-growing segment with a notable CAGR in the coming years. The multi-sensory extended segment of the 6G market refers to the integration of advanced sensory technologies into wireless communication systems, allowing for immersive and interactive experiences that go beyond conventional audio and visual capabilities. This includes applications such as feedback mechanisms, sensory stimulation (such as taste augmentation), and spatial awareness, resulting in a truly multidimensional communication environment.
Deployment (Smartphones, Tablets, Wearables, Internet of Things)
The smartphone segment is set to garner a significant market share propelled by the widespread adoption of smartphones across the world. Smartphones have become important for communication, internet access, and a variety of applications, making them a crucial driver of the 6G market. With the growing demand for faster and more reliable connectivity, 6G technology intends to transform smartphone capabilities by delivering faster data rates, lower latency, and increased network capacity. According to 2024 statistics shared by the Per Research Center, in 2023, about 90% of U.S. adults owned a smartphone.
Our in-depth analysis of the global market includes the following segments:
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Vertical |
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Application |
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Deployment |
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Communication Infrastructure |
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Component |
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North America Market Statistics
North America region in 6G market is set to capture around 38.2% revenue share by the end of 2036. The substantial growth of the landscape is led by the presence of major key players in the telecommunication industry. These organizations are making progress in 6G research, development, and deployment, driving growth and advancements in the market. Additionally, favorable regulatory policies help to drive the growth of the 6G market in North America.
The United States is expected to dominate the regional 6G market in terms of investment, adoption and applications. Telecom companies in the country such as AT&T, T-Mobile and Verizon have signed billion-dollar agreements with network equipment providers such as Samsung, Nokia and Ericsson to expand its US 6G network infrastructure. Additionally, the National Science Foundation of the United States granted USD 7 million in extra funding for the Platforms for Advanced Wireless Research (PAWR) initiative, which will increase the capacity of the PAWR testbeds for testing and validating Open Radio Access Network (O-RAN) systems and subsystems.
In Canada 6G is still in the development phase and is predicted to be available before 2030. Major players like Bell, Telus and Rogers are expected to be first providers to deploy 6G in the country.
APAC Market Analysis
The Asia Pacific region will also encounter huge growth in the 6G market during the forecast period. The APAC 6G market offers enormous opportunities for economic growth and technical improvement. With its large population, electronics and semiconductor industries, strong government support, and emphasis on innovation, the region is ideally positioned to become a global leader in 6G research and deployment.
China is expected to dominate the 6G market in the coming years owing to the unwavering support of the Chinese government and local companies in the 6G race. Large telecom giants like ZTE, Huawei, and Xiaomi are aggressively investing in advancing 6G networks and are actively involved in research and development. These companies can conduct large-scale trials and develop new technologies because they have the necessary expertise, scale, and resources. For instance, in January 2022, Purple Mountain Laboratories, a facility backed by the Chinese government, declared that it had successfully accomplished a record breaking 6G level wireless transmission up to 206.25 gigabits per second.
In South Korea, the Ministry of Science and ICT reports that under the K-Network 2030 plan, the Korean government will secure world-class 6G technologies, innovate the software-based next-generation mobile network, and strengthen the network supply chain.
The 6G market is driven by prominent companies that are well-established and provide innovative solutions and services in the telecommunications industry. Most of these companies are continuously expanding, collaborating, and adopting joint venture strategies to strengthen their position in the market.
Some of the key players include:
Author Credits: Abhishek Verma
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