6G Market is projected to be worth USD 97.66 billion by 2033 and is anticipated to surge at a CAGR of 34.43%.
Sixth-generation networks are referred to as 6G networks. It is the most recent standard in wireless telecommunication technology, developed further after 5G. It is anticipated that this wireless technology will save a significant amount of time and operate faster than its predecessors. Improved data security, mobile broadband, minimal network congestion, AI-integrated communication, and connected intelligence are some of its other significant benefits. It can be utilized for purposes other than mobile communication, like the Internet of Things (IoT) and virtual and augmented reality (VR/AR). Significant advancements in imaging, location awareness, and presence technology are probably in store, and it will probably support the growing number of creative applications.
Global 6G Technology Market Driving Factors and Challenges
The market for 6G networks is anticipated to grow significantly over the projected period. The demand for remote and high-speed internet connectivity, as well as the use of 6G communication in emerging technologies like block chain and the Internet of Things, are the main factors driving the market. Communication is a key component of growth as well, as it has become indispensable in modern life. The market will benefit from smart technologies' rising acceptance and popularity. Rapid urbanization and communication's ascent to the status of a fundamental human right will also have a big impact on the market. Many people have already moved to big cities in search of better lives and more opportunities. This migration has been greatly aided by connectivity and communication. The adoption of 6G technologies is anticipated to be significantly impacted by the growing initiatives to promote smart cities and the growth of the urban population.
One of the main obstacles impeding the growth of the 6G Technology market is the possibility of cybersecurity breaches for 6G networks. 6G network adoption will make it possible for connected devices found in electronic healthcare, smart cities, autonomous vehicles, and building and home automation to communicate with one another. Furthermore, a few of the most dangerous cyber security risks involve breaking into linked devices to steal customer information and exploiting multiple devices to launch a distributed denial of service (DDoS) attack against important target servers. Among the main risks connected to 6G networks are DDoS, man-in-the-middle, and network slice attacks.
Impact of COVID-19 on Global 6G Technology Market
During lockdowns and social distancing measures, remote work, online education, and telemedicine became critical, demonstrating the critical importance of robust and resilient telecommunications networks. The pandemic has accelerated global digital transformation efforts, and this increased reliance on connectivity may have an impact on the prioritization and development of advanced communication technologies such as 6G.
Global 6G Technology Market Key Players:
The market study offers revenue analysis, market segmentation, competitive landscape data, and a thorough examination of major market participants, including – Apple Inc., AT &T, Cisco Systems Inc., Ericsson, Huawei Technologies Co., Intel Corporation, IBM Corporation, Toshiba Corporation, Xiaomi Corporation, ZTE Corporation.
Global 6G Market Segmentation:
By Devices: Based on the Devices, Global 6G Technology Market is segmented as; Edge Computing Devices, IoT, Mobile Devices, Other Devices.
By End User Vertical: Based on the End User, Global 6G Technology Market is segmented as; Agriculture, Automotive, Government, Healthcare, Manufacturing.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.