6G Market Trends

Growth Drivers

• Adoption of data-driven technologies - Artificial intelligence, cloud computing, and machine learning are all data-driven technologies that can analyze massive volumes of network data in real-time. This improves network intelligence, allowing 6G networks to optimize performance, predict challenges, and flexibly allocate and manage resources based on demand.
  
  The growing adoption of cloud computing has a profound impact on the automation, healthcare, telecom, manufacturing, and insurance industries which is accelerating the 6G market expansion. For instance, a 2023 published report estimates that since 2018 the percentage of insurers adopting cloud-based technology has risen from 72% to more than 90%.
• Increasing number of connected IoT (Internet of Things) devices - There is widespread adoption of 6Gs in IoT systems owing to their affordability, compact size, and energy efficiency. It acts as a communication channel between the external environment and IoT devices. In addition, manufacturing IoT devices provides a seamless connection between systems, devices, and machines.
  
  Furthermore, the 6G network allows real-time control, manufacturing, and monitoring options while helping to reduce downtime, optimize production efficiency, and improve overall productivity. According to Research Nester analysis, in 2022 global IoT connections showed a significant growth rate of 18.0% and achieved more than 14 billion active IoT endpoints. Thus, the growing adoption of these devices is fostering the revenue share of the 6G market.
• Growing demand for ultra-reliable low latency communications (URLLC) - Many industrial real-time applications across a variety of sectors, including automotive, industrial automation, and industrial IoT necessitate extremely low end-to-end network latency, often in the range of 10 milliseconds or less. The sixth generation of cellular networks (6G) can support the required levels of network latency using the URLLC service. As per estimates, the URLLC sector is predicted to reach USD 50.0 billion by the end of 2030.

Challenges

• Technical feasibility issues - Developing and implementing cutting-edge technologies such as AI-driven networks, massive MIMO (Multiple Input Multiple Output), and terahertz frequency bands pose significant technological challenges. Addressing these issues will necessitate collaboration and innovation across different sectors to maximize the potential of 6G technology while limiting risks and providing global shared benefits.
• Security and privacy concerns - As data transmission rates and connectivity increase, maintaining strong security protocols and protecting user privacy become crucial.  Safeguarding sensitive data against cyber threats outlines some future challenges and issues which can hamper deployment of 6G.