6G Telecommunications Market Size Projection (2024-2030)

As of 2023, the6G Telecommunications Market recorded a valuation of USD 1.99 Billion and is anticipated to achieve a market size of USD 5.52 Billion by 2030. Over the forecast duration spanning from 2024 to 2030, the market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 15.7%.

Overview of 6G Telecommunications Market

The 6G Telecommunications Market represents an evolving realm within wireless network mobile communication technology, denoting the sixth-generation standard. Serving as the successor to 5G mobile technology, 6G is presently undergoing development in the telecommunications domain, aiming to bolster wireless communication technologies supporting mobile data networks. A pivotal objective of 6G internet entails facilitating microsecond-latency verbal exchanges. Foreseen as offering enhanced capabilities compared to its predecessors, 6G networks are poised to stimulate applications beyond conventional mobile utilities, encompassing domains such as virtual and augmented reality (VR/AR), Artificial Intelligence (AI), and the Internet of Things (IoT). The transformative trajectory of Wi-Fi network technologies is poised to redefine industries by furnishing wireless services at multi-gigabit per second speeds, ultra-low latencies, support for diverse applications linking billions of devices and objects, and adaptability through virtualization, thereby fostering innovative business models across various sectors.

Drivers Shaping the Global 6G Telecommunications Market:

Technological Advancements and Widespread Accessibility of Low-Cost Devices:

The market growth is propelled by advancements in 6G communications technology coupled with the widespread availability of economical mobile devices. Ongoing developments in next-generation networks alongside other factors are poised to complement the organic expansion of the 6G telecommunications market. The proliferation of communication innovations among internet users has led to an exponential surge in data generation, storage, and sharing, all facilitated through communication networks.

Advancement in the IT Sector and Escalating Demand:

The progression of the IT sector and escalating demand serve as catalysts for the growth of the 6G Telecommunications Market. The advent of 6G technology is anticipated to revolutionize numerous industries and technologies. Industry 4.0, eHealth, multisensory extended reality, autonomous transportation, network-enabled robotics, and personalized user experiences are among the potential applications envisaged for 6G technology. To realize these applications, 6G networks are poised to leverage cutting-edge technologies such as machine learning, artificial intelligence, post-quantum cryptography, cognitive networks, and IoT-based automation, thereby fostering economic growth, innovation, and progress across diverse industries.

Challenges Facing the Global 6G Telecommunications Market:

The market growth is impeded by the substantial investment requirement. The high cost associated with 6G products and equipment poses a restraining factor. Despite the rapid pace of technological evolution and the burgeoning demand for internet technologies such as 5G, the establishment and maintenance of a robust supply in the market necessitate a considerable number of towers and high maintenance costs.

Opportunities in the Global 6G Telecommunications Market:

The forthcoming mobile platform is pivotal in attaining societal sustainability and economic growth objectives as mobile technology permeates new domains and sectors. To foster global peace and prosperity, all nations must strive to achieve the 17 sustainable development goals outlined by the UN. Notably, 5G has already significantly bolstered global economic growth, and the advent of 6G is poised to further amplify its impact by extending connected intelligence to a broader spectrum of industries and applications, thus mitigating social-economic disparities and enhancing quality of life through increased connectivity accessibility.

The significance of eco-friendly networks and devices escalates as the world transitions into the 6G era. The primary aim is to design networks that are energy-efficient and have minimal environmental footprint. Moreover, mitigating the environmental impact of billions of devices entails engineering them to consume less power and manufacture with reduced carbon emissions.

Impact of COVID-19 on the Global 6G Telecommunications Market:

The COVID-19 pandemic has placed unprecedented strain on healthcare systems worldwide. Although 6G technology is still in its developmental phase, COVID-19 has inadvertently catalyzed its advancement. Future outbreaks are likely to further accentuate the demand for enhanced network services and faster internet speeds, given the substantial shift towards online platforms. The global 6G telecommunications market encountered various impediments to growth owing to the COVID-19 outbreak, with mixed effects observed on the market dynamics. Despite disruptions in the supply chain and other challenges, emerging trends in IoT and digitalization have contributed optimistically to the growth of the 6G telecommunications market.

Recent Developments in the Global 6G Telecommunications Market:

• In February 2022, China successfully launched a test satellite for 6G technology into orbit utilizing a Long March 6 launch vehicle rocket, alongside approximately 12 other satellites.
• In July 2022, the 6G-Take Off research project, supported by the German Federal Ministry of Education and Research, commenced under the leadership of Deutsche Telekom (DT). The project aims to establish a standardized 6G architecture for communication networks comprising ground stations, airborne infrastructure platforms, and satellites, with Deutsche Telekom spearheading collaborative efforts.
• In May 2022, Samsung released a white paper detailing insights into 6G spectrum and research findings. The paper suggests that global frequency bands are poised to accommodate 6G next-generation communications technology. Furthermore, the paper advocates for research into advanced spectrum utilization regulations and technologies to efficiently and adaptably support 6G and other services utilizing existing spectrum resources, including the refarming of bands currently allocated for 3G, 4G, and 5G networks.

Segmentation of the Global 6G Telecommunications Market by Device Type:

• Networking Devices
• IoT and Edge-Computing Devices
• Mobile Devices
• Others

Among these categories, Mobile Devices emerge as the most substantial and prominent sector. The surge in smartphone users and the rapid expansion of mobile data consumption have led to a heightened demand for 6G-enabled mobile devices. This segment encompasses smartphones, tablets, and various portable gadgets reliant on seamless, high-speed connectivity.

Conversely, the Networking Devices subcategory exhibits significant potential as the fastest-growing segment throughout the forecast period. These devices, including routers, modems, and network switches, play a crucial role in establishing and maintaining 6G networks. As the infrastructure supporting 6G advances, the demand for advanced networking devices is poised for substantial growth, thereby driving the expansion of this segment.

Global 6G Telecommunications Market Segmentation by End-User:

• Industrial & Enterprise
• Mobile
• M2M
• Computing
• Consumer
• Others

The Industrial & Enterprise segment emerges as the largest end-user category, showcasing extensive adoption of 6G within industries and enterprises. Industries integrate advanced technologies and automation, relying on 6G for real-time data transfer and enhanced connectivity. Additionally, enterprises leverage 6G capabilities to streamline operations and foster innovation, further fueling the growth of this segment.

In contrast, the Mobile end-user segment stands out as the fastest-growing during the forecast period. As the mobile user base continues to expand, so does the demand for faster and more reliable connectivity. 6G telecommunications address this demand, offering enhanced mobile experiences, quicker downloads, and seamless streaming, thus propelling the rapid expansion of the mobile end-user segment.

Global 6G Telecommunications Market Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Geographically, the Asia Pacific region is poised for significant growth in the global 6G telecommunications market due to its heightened emphasis on satellite communication and advancements in this sector. China's launch of the world's first 6G test satellite into orbit has spurred market demand substantially. Additionally, the Asia Pacific region's increasing focus on satellite communication and technological advancements therein positions it to capture the largest revenue share in the global 6G telecommunications market. North America is expected to experience substantial revenue growth in the global market, attributed to the region's robust presence of key companies, government initiatives, and other factors. The region's leadership in wireless technology is predominantly driven by private sector initiatives, with significant emphasis on 6G development. Furthermore, ongoing innovation coupled with substantial impact on consumers' quality of life is anticipated to further propel the expansion of the North American 6G telecommunications market in the near future.

Key Players in the Global 6G Telecommunications Market:

1. MediaTek Inc.
2. Huawei Technologies Co., Ltd.
3. Intel Corporation
4. Nokia Corporation
5. Google LLC
6. Sony Corporation
7. Apple Inc.
8. LG Corporation
9. Samsung Electronics Co., Ltd.
10. Nippon Telegraph and Telephone Corporation
11. ZTE Corporation
12. T-Mobile US, Inc.