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Report ID: ICT0010
Pages: 190
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
MARKET SCOPE:
The global 6G is projected to grow significantly, registering a CAGR of 15.6% during the forecast period (2024 – 2032).
In comparison to the 5G network, the anticipated 6G network is expected to deliver a 100x increase in both energy and volumetric spectral efficiency. The intricate interconnectedness of the 6G infrastructure poses significant challenges. Projections indicate a steep annual growth rate of 55% in global mobile data traffic between 2020 and 2030, resulting in an estimated 5,016 exabytes (EBs) of monthly data by 2030. This massive data volume, coupled with substantial processing and learning capabilities, could be leveraged to manage the network at various stages. To address these evolving demands and aspirations for the future, the driving forces behind the leap beyond current mobile communication systems will be a combination of societal needs and technological advancements that address those needs. Taken together, these factors present a compelling argument for exploring the next frontiers in wireless networks. The capabilities of 6G mobile technology extend beyond the intelligence, reliability, scalability, and security of traditional mobile networks. They will facilitate the integration of satellite communication, paving the way for the establishment of a ubiquitous mobile network that aligns with the necessity for a truly global wireless network presence.
MARKET OVERVIEW:
Driver: Increase in demand for low-latency networks is driving the market growth.
As reliance on technology and communication networks continues to grow, consumers are becoming increasingly intolerant of delays and disruptions in data transmission. Telecommunication systems have become indispensable in daily life, and even the briefest delay, as minimal as one millisecond, can have a detrimental impact on tasks, particularly in critical domains such as autonomous vehicles. To remain competitive, service providers are actively striving to minimize any potential for network delays. Recent advancements in internet technology have facilitated the proliferation of interactive applications such as personalized web browsing, online gaming, video conferencing, and financial trading, all of which demand minimal latency. Moreover, the financial and trading sectors highlight a universal requirement for reduced latency, as even slight delays can result in significant financial consequences. This escalating demand for low-latency networking solutions underscores the vital importance of 6G technology in optimizing user experiences and business operations across diverse industries.
Opportunities: The transformative potential of 6G technology on IoT, blockchain, and artificial intelligence is expected to pave the way for market growth in the upcoming years.
Anticipated to significantly influence the expansion of IoT, blockchain, and artificial intelligence, 6G technology is poised for substantial impact. Artificial intelligence entails imbuing machines with human-like intelligence, empowering them to execute designated tasks. Conversely, the Internet of Things (IoT) facilitates the linkage of small devices to larger ones through the Internet. Notably, the integration of artificial intelligence and IoT-based communication devices into 5G communication systems has garnered considerable momentum in recent years. These innovations produce data, subsequently decoded to extract pertinent information.
COVID IMPACT:
The COVID-19 pandemic has impacted the 6G market in various ways. Initially, the outbreak disrupted supply chains and manufacturing processes, causing delays in the development and rollout of 6G technology. Travel restrictions and lockdown measures also impeded collaboration and research efforts, slowing progress in the field. However, the pandemic underscored the critical importance of robust and resilient telecommunications infrastructure. With remote work, online education, telemedicine, and other digital services becoming increasingly prevalent, there has been a heightened demand for faster and more reliable connectivity. This heightened reliance on digital technologies has hastened the development and adoption of 6G as a solution to meet the evolving needs of a digitally connected society.
Moreover, the pandemic has spurred investments in technologies that support remote work, automation, and digital transformation across various industries. As organizations strive to build more resilient and adaptable systems, there is a growing interest in the potential capabilities of 6G, including ultra-low latency and high-speed data transmission, to facilitate innovative applications and services.
SEGMENTATION ANALYSIS:
The smartphone segment is anticipated to grow significantly during the forecast period.
The primary recipient of the advancements brought by 6G technology is anticipated to be the smartphone. With its capability to offer ultra-high-speed and low-latency connectivity, 6G has the potential to facilitate advanced functionalities such as augmented reality, virtual reality, and holographic communication. While these technologies promise to enhance user experiences across various devices, smartphones are poised to undergo a significant evolutionary leap first. This is due to their widespread adoption and continual need for faster and more dependable internet connectivity, positioning them as the foremost beneficiaries of 6G technology.
The multi-sensory extended reality (XR) segment is anticipated to grow significantly during the forecast period.
Multi-sensory extended reality (XR) stands out as a potential frontrunner in 6G applications. With multi-sensory XR, users can delve into virtual, augmented, and mixed realities enriched with enhanced sensory inputs, encompassing haptic feedback, smell, taste, and touch. This innovation holds the promise of transforming numerous sectors, including gaming, entertainment, education, healthcare, and remote collaboration. The prospect of immersing oneself in virtual environments with heightened sensory experiences presents significant market opportunities. Furthermore, network-enabled robotic and autonomous systems are poised to play pivotal roles across various industries such as manufacturing, logistics, healthcare, agriculture, and disaster response. These systems hold the potential to boost efficiency, productivity, and safety by facilitating advanced automation and remote control of robots and autonomous vehicles. Such applications carry substantial real-world implications and benefits for humanity, particularly in labor-intensive industries, healthcare assistance, and hazardous environments.
REGIONAL ANALYSIS:
The Asia Pacific region is set to witness significant growth during the forecast period.
In recent years, the Asia Pacific region has emerged as the fastest-growing market for 6G technology. China, in particular, has made significant strides in establishing itself as a leader in this field, fueled by strong governmental support and the dominance of Chinese companies. This has positioned China ahead of the United States and other nations in the race to develop advanced telecommunications technology. Moreover, Chinese companies have taken the lead in 6G technology development, with telecommunications giants like Huawei, ZTE, and Xiaomi heavily investing in research and development efforts. These companies possess the expertise, resources, and scale to drive large-scale experiments and propel 6G technology forward. For example, in January 2022, Purple Mountain Laboratories, a Chinese government-supported research lab, announced a groundbreaking achievement: achieving wireless transmission speeds of up to 206.25 gigabits per second, marking a significant milestone in 6G development.
COMPETITIVE ANALYSIS
The global 6G is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Scope of the Report
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.