6G technology market will grow at a CAGR of 27% from 2023 to 2032

Rising demand for high-speed connectivity is a key factor expected to drive the global market growth during the forecast period.

Pune, January 2, 2024 (Globe Newswire) — Global 6G technology market It was valued at USD 4.2 billion in 2022 and is expected to register a robust CAGR of 27% during the forecast period. This growth is believed to be driven by factors such as higher data speeds, lower latency, increased demand for secure connectivity networks, increased focus on global connectivity and integration, and increased investment in R&D projects. Masu.

6G refers to the sixth generation of network connectivity technology, which is the successor to the currently trending and widely used 5G technology. 6G technology is still in the development stage and aims to provide faster data speeds, lower latency, and enhanced connectivity compared to existing network connections. 6G uses terahertz frequencies to deliver ultra-fast speeds and data rates, facilitating advanced technologies such as AR, VR, and holographic communications. Governments and leading companies are investing heavily in research and development activities to develop durable and secure networks, and carriers are investing heavily in network infrastructure to deploy his upcoming 6G technology. We are focused on upgrading.

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6G technology is expected to support massive numbers of devices, up to millions of devices per square kilometer, to meet the growing demand for seamless connectivity, IoT, and M2M communications. Additionally, we may incorporate machine learning, AI algorithms, and advanced analytics tools to optimize network performance, predict failures, and automate management tasks.

The growth of the 6G technology market is significantly driven by factors such as rapid digitization, technological advancements in antennas, energy-efficient architectures, security systems, and high focus on developing energy-efficient technologies considering their environmental impact It has been.

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However, high infrastructure investments, limited funds to deploy advanced technologies and connectivity networks, interoperability issues, and security concerns are expected to hinder the overall market growth to some extent during the forecast period. It’s a major factor.

Key highlights of the report:

• Based on application, agriculture segment revenue is expected to expand at a rapid growth rate during the forecast period. It explores the rapidly growing agricultural sector, advanced deployment of advanced technologies such as 5G, 6G, AI, and IoT on farms, and the potential applications of 6G in precision farming, autonomous farming, and remote monitoring and management. This can be attributed to ongoing research. Smart irrigation.

• The European market will witness strong revenues during the forecast period due to rising demand for ultra-high speed connectivity, increasing investment in 6G R&D in universities, research institutes and private companies, and rapid demand for 6G technology across the globe. It is expected to record a CAGR. various fields.

• AT&T, Broadcom, Cisco, DeepSig, Ericsson, Fujitsu, Google, Huawei, InterDigital, Keysight, LG Corporation, MediaTek, National Instrument Corp, Nokia, NTT DoCoMo, Orange are some of the major companies operating in the global 6G technology market is.

• In October 2023, Ericsson announced plans to deploy 6G technology in India. A new team of researchers from India will collaborate with Ericsson’s teams in Sweden and the US.

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Report scope:

Competitive environment:

The global 6G technology market is highly competitive and consists of several major regional and global players. Major leading companies are focusing on adopting various strategic alliances such as mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. I am. We also focus on innovation and scalability, adapting to evolving technology trends and consumer needs.

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Some of the key market companies mentioned in the report:

• AT&T

• broadcom

• Cisco

• deep sig

• Ericsson

• Fujitsu

• Google

• huawei

• interdigital

• keysight

• LG Corporation

• media tech

• national instrument company

• nokia

• NTT Docomo

• orange

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The global 6G technology market is segmented on the basis of components, deployment devices, applications, end-uses, and regions.

By component:

By deployment device:

• smartphone

• Tablet

• wearable

• IoT device

• others

By application:

• digital twin

• blockchain

• smart city

• others

By end use:

• health care

• car

• Agriculture

• government

• others

by region:

• North America

• Europe

  • Germany

  • France

  • England

  • Italy

  • Russia

  • nordic countries

• Asia Pacific

  • China

  • Japan

  • South Korea

  • Southeast Asia

  • India

  • Australia

  • rest of asia

• latin america

  • Mexico

  • Brazil

  • Rest of Latin America

• middle east and africa

  • turkey

  • Saudi Arabia

  • United Arab Emirates

  • Rest of MEA

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Main questions answered:

• What revenue CAGR is the global market expected to register during the forecast period?

• Who are the key companies leading the global 6G technology market?

• What is the expected market size of the global 6G technology market from 2023 to 2032?

• What are the factors opening up new growth avenues and opportunities for established and emerging market players?

• What are the key challenges expected to be faced by the global market during the forecast period?

• Which region is expected to account for the largest revenue share during the forecast period?

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