6G Market To Exhibit A Remarkable CAGR Of Around 26.5% During 2024-30, Size, Share, Key Drivers, & Competitive Outlook

(MENAFN- EIN Presswire)

The Global 6G market size is estimated to grow at a CAGR of around 26.5% during the forecast period 2024-30.

NEW HAVEN, CONNECTICUT, USA, July 23, 2024 /EINPresswire / -- The Global 6G Market size is estimated to grow at a CAGR of around 26.5% during the forecast period, i.e., 2024-30. The growth of the Global 6G Market is foreseen to be driven by several key factors reshaping the telecommunications and technology landscape. A primary factor considered is the increasing demand for advanced wireless connectivity solutions driven by the exponential growth of data usage and emerging technologies like augmented reality, virtual reality, and the Internet of Things.

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The 6G market is still in its early stages, with standards and specifications under development. However, several factors are expected to influence its growth:

Drivers:

. Demand for high-speed and reliable connectivity: The ever-growing need for faster data transfer and consistent connections fuels the market for the next generation of mobile communication. 6G promises to deliver significantly higher speeds and bandwidth compared to 5G, enabling a wider range of applications.

. Emerging technologies: The rise of technologies like the Internet of Things (IoT), virtual reality (VR), and augmented reality (AR) creates a demand for networks that can handle the massive amount of data traffic they generate. 6G's ultra-low latency and high capacity are crucial for these applications to function seamlessly.

Challenges:

. Standardization: Establishing global standards for 6G technology is crucial for ensuring interoperability between networks and devices from different vendors. Delays in standardization could hinder market growth.

. Infrastructure costs: Deploying a new generation of mobile network infrastructure is expensive. The high costs associated with developing and installing 6G infrastructure could slow down its adoption, especially in developing countries.

Leading Companies Operating in the Global 6G Market

. Telefonaktiebolaget LM Ericsson
. Intel Corporation
. Ciena Corporation
. Nokia
. Huawei Technologies Co., Ltd.
. Orange Business
. Samsung
. Reliance Jio
. ZTE Corporation
. MediaTek Inc.

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6G Market Report Segmentation:

. By Component – Hardware, Software, Services
. By Deployment Devices – Smartphones, Laptops/Tablets, Wearables
. By Communication Infrastructure – Fixed, Wireless
. By Application - Multisensory Extended Reality, Networked-Enabled Robotic and Autonomous Systems, Distributed Sensing and Communications, Blockchain and DLT, Smart, Others
. By End User - Banking, Financial Services and Insurance (BFSI), Consumers, IT & Telecom, Manufacturing, Healthcare, Retail, Media & Entertainment, Others

Regional Insights: Asia-Pacific Set to Capture Significant Market Share

Geographically, the Global 6G Market expands across:
. North America
. South America
. Europe
. The Middle East & Africa
. Asia-Pacific

The Asia-Pacific is foreseen to emerge as a pivotal player in the Global 6G Market, primarily owing to its escalating focus on satellite communication and remarkable advancements in this domain. A significant milestone was achieved when China successfully launched the world's first 6G test satellite in 2020, a testament to the region's unwavering commitment to pioneering next-generation connectivity.

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