Global 6G Market to Grow at a CAGR of 24.7% During 2024-2032, Aided by Increased Demand for Fast Internet Connectivity and Increasing Use of Smart Technologies and Devices

The growing reliance on technology around the world and increasing demand for superior internet connectivity are the key factors driving the global 6G market. According to the International Telecommunication Union, global internet users increased by 68.9% from 2015 to 2023. China is a global frontrunner in 6G technology development. By 2025, it plans to launch several 6G mobile apps and further commercialise them by 2030. As per the China Internet Network Information Centre, the nation has the highest number of 6G patent applications worldwide (38,000).

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South Korea is also planning to invest around $193 million in the development of 6G, with plans to commercialise it by 2028. Besides, Japan aims to collaborate with the United States to establish global standards for unmanned technologies relying on 6G communications. The country plans to invest $482 million towards 6G technology development and commercialise it by 2030.

Moreover, nearly 65% of all US-based organisations plan to use augmented and virtual reality-based tools to train their workforce. By simulating hazardous situations, virtual environments increase the situation-handling capabilities of workers while improving decision-making outcomes. This leads to enhanced retention rates (75%) and results in a fourfold increase in the rate of soft skill development among workers. By reducing the need for making substantial investments in physical assets and endangering occupational safety, AR and VR tools serve as a cost-effective employee training model. The emergence of 6G, which has the potential to offer theoretical terabit speeds, can transform the employee training experience for many organisations by enhancing the performance of AR/VR tools, which is expected to drive the market growth in the coming years.

Market Breakup by Device, Industry Vertical, and Region:

• Based on device, the market is divided into mobile devices and IoT and edge computing devices, among others.

• Based on industry vertical, the market can be divided into agriculture, automotive, healthcare, government, and manufacturing, amongst others. 

• Region-wise, the 6G market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The 6G market is expected to benefit from the growing global demand for fast Internet, increasing penetration of smart devices, and growing reliance on digital infrastructure by various sectors.

• Global governments and key industry players are heavily investing in 6G technology development, recognizing its potential to support advanced applications like augmented reality, urban air mobility, and smart cities. 

• Notable investments include South Korea's USD 345.5 million for 6G R&D and collaborations among companies like NTT DOCOMO, NEC, Fujitsu, and Nokia.

• The integration of AI and ML with 6G technology is expected to enhance user-centric applications, provide immersive digital experiences, and facilitate real-time decision-making. This will support various sectors, including autonomous vehicles and smart city infrastructure.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for 6G for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the device, industry vertical, and major regions of the 6G market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 6G market are Broadcom Inc., Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Nokia Corporation, AT&T Inc., NTT Docomo, Inc., Orange SA, NEC Corporation, and Fujitsu Limited, amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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