LONDON, March 19, 2024 (GLOBE NEWSWIRE) — The global 6G market has experienced significant growth in recent years, as shown by The Business Research Company’s latest report titled 6G Global Market Report 2024. Masu.
6G market overview
The 6G market is experiencing rapid growth and its size is larger than before. $5.65 billion in 2023 to $7.32 billion in 2024with CAGR is 29.6%. This growth is due to factors such as advances in wireless connectivity, increased data demand, government and industry investments, and the emergence of new use cases such as ultra-reliable and low-latency communications (URLLC). The expectations for the future are equally promising, with the 6G market predicted to reach next size. $20.46 billion by 2028is growing CAGR is 29.3%.
6G is the sixth generation of cellular networks and represents the next evolution in wireless communications technology. Enhanced data transfer capabilities are promised, turning smartphones into versatile tools for voice- or motion-based interaction, and enabling holographic conferencing.
The major components of 6G include hardware, software, and services. The hardware includes a variety of devices such as networking, IoT, and edge computing devices, serving various sectors such as agriculture, automotive, healthcare, government, and manufacturing. The software includes applications such as digital twins and blockchain to facilitate advanced functionality. Services include a wide range of products to support the deployment and utilization of 6G technology.
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6G Market Drivers and Technological Advancements
The increase in internet connectivity is expected to drive the growth of the 6G market. This involves connecting a person or device to the Internet and enabling data access and communication. 6G technology supports internet connectivity by achieving speeds of up to 1 terabits per second (TBPS), ensuring efficient and reliable connectivity even when a large number of devices are connected.
Key players in the 6G market are prioritizing advanced technology products, leveraging software such as electronic design automation (EDA) software. This suite streamlines the design and verification of electronic circuits and systems, allowing businesses to anticipate their 6G wireless communications needs and stay competitive.
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regional insights
In 2023, North America is expected to maintain the top position in the 6G market, with Asia Pacific region expected to experience the fastest growth over the upcoming forecast period. The regions analyzed in the 6G market report include Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
6G Market Segmentation Overview
The 6G market segmentation in this report includes:
- By component: hardware, software, services
- By device: networking devices, IoT and edge computing devices, mobile devices, and other devices.
- By application: digital twin, blockchain, smart city
- By End-User Industry: Agriculture, Automotive, Healthcare, Government, Manufacturing, Other End-User Industries
6G World Market Report 2024 business research company It provides insights about 6g market size, segments, trends, drivers and restraints, key competitors’ market position, revenue, and market share.
Business Research Company publishes more than 7,500 industry reports covering more than 2,500 market segments and 60 regions. This report is based on unique insights from 1,500,000 datasets, extensive secondary research, and interviews with industry leaders.
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