6G Market to Witness Massive Growth at USD 54.62 Billion by 2031: Driven by High Demand for Fast and Dependable Network |SkyQuest Technology
Westford, USA, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The demand for 6G market is rapidly increasing as it is developing upon the foundations of 5G technology. This network system is expected to revolutionize connectivity as the goal of 6G is to provide unparalleled speed, ultra-low latency, and smooth incorporation of AI and IoT. Furthermore, 6G was a planned successor of the 5th Generation. Many prominent companies and research facilities have contributed towards fulfilling the necessity steps for adopting 6G. furthermore, sectors such as medical care, transportation, and manufacturing are intended to profit immensely from their abilities and efficiency. It also allows developments like remote surgery, autonomous vehicles, and smart factories. There is constant research & development about the abilities of network and many prominent organizations in telecommunication and technology are investing immensely to increase the innovation of 6G. The 6G market has huge capability to change sectors and improves the digital settings and will dominate the 6G market.
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Browse in-depth TOC on the "6G Market"
- Pages - 210
- Tables - 95
- Figures – 76
6G Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 5.1 Billion |
| Estimated Value by 2031 | $ 54.62 Billion |
| Growth Rate | Poised to grow at a CAGR of 34.5 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vertical, Application, Deployment Device, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Rise of holographic communication to get better immersive interaction |
| Key Market Opportunities | Tech companies launching advanced 6G prototypes |
| Key Market Drivers | Increasing demand for fast and dependable connection |
High Demand for Low Latency Connectivity to Increase Popularity for 6G Driving Market Growth
The 6G market is opening immense possibilities for the growing sectors and applications that need extremely fast, dependable, and low-latency connectivity. Sectors like autonomous vehicles, smart cities, remote medical care, highly immersive entertainment, and advanced manufacturing can utilize 6G to tap into new abilities and business models. 6G network will allow real-time interactive among autonomous vehicles and infrastructure, support remote robotic surgery with minimal data transfer delay, and provide immersive virtual experiences with augmented reality. The focus on 6G services is also increasing by the device makers, service providers, and network operators. Many companies and government facilities are also looking for seamless transition and interoperability while combining 6G with present network technologies, boosting the demand of the market.
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Rising Adoption of Smartphones to Rise Demand for Better Connection to Propel Market Growth
One of the primary factors that is transforming the growth of the market is the increasing adoption of smartphones and the rising demand for better connectivity. The growing penetration of smartphone and internet worldwide as people are getting extremely reliant on these devices for various tasks. The increasing use of smartphone has resulted to an increase in online sales, gaming, and the social media platforms. Furthermore, the rising adoption of smartphones has also led to increasing expectations for consumers due to the ease of operations and communication among devices. Moreover, factors like the increasing demand for data services and rising popularity for high-speed internet are fueling the development of 6G technology. These factors are boosting the expansion of the 6G market.
Increasing Adoption of Wireless Connection for Seamless Connectivity to Boost 6G Market in North America
North America is dominating the global 6G market as there is an increase in the adoption of Internet of Things (IoT) technology in several industries in the region. It is primarily being used in developed countries like the US and Canada. One of the main reason due to which the 6G market in North America is increasing dramatically is the high adoption of wireless technologies, which is helping them to get sooth connection. Furthermore, the region is also an early adopter of new and innovative technologies. Therefore, the data traffic in North America is high in comparison to the regions. Moreover, there are also many projects related to the use of 6G that are being undertaken by several regions in North America which is substantially contributing to the growth of the market. These factors are boosting the development of 6G market.
6G Market Insights
Drivers
- Increasing demand for hyper connectivity
- Growing requirement of extremely fast and reliable connectivity
- Rise of holographic communication for immersive interaction
Restraints
- High complexity of 6G network
- Restricted awareness and understanding of 6G network
- Complex infrastructure and high investment
Key Players Operating in the 6G Market
The following are the Top 6G Companies
- AT&T (US)
- Broadcom (US)
- Cisco (US)
- DeepSig (US)
- Ericsson (Sweden)
- Fujitsu (Japan)
- Google (US)
- Huawei (China)
- InterDigital (US)
- Keysight (US)
- LG Corporation (South Korea)
Key Questions Answered in 6G Market Report
- What are the major driving factors of 6G market?
- Which is the fastest growing region in the 6G market report?
- Who are the key players in 6G market?
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This report provides the following insights:
- Analysis of key drivers (Increasing demand for hyper connectivity, growing global connectivity, and demand for high data transfer), restraints (Increasing complexity of 6G network and difficulty with infrastructure), opportunities (Increasing use of smartphone, high demand for high power network, and emerging new business models), and challenges (Concerns related security and data privacy and restricted awareness and understanding) influencing the growth of 6G market
- Market Penetration: Comprehensive information on the product offered by the top players in the 6G market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the 6G market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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