6G Market Share is Growing at a CAGR of 50% to Bloat US$ 300 Billion by 2033: Fact.MR Report
Numerous Countries’ Strong Emphasis on High-speed Communications to Drive Growth of 6G Market
April 18, 2023 05:00 ET | Source: FACT.MR Follow
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Rockville, April 18, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals that the global 6G market is set to boom to a valuation of US$ 300 billion by 2033, expanding rapidly at 50% CAGR from 2023 to 2033
With each generation of communications technology, the focus of the network changes. The 2G and 3G eras were focused on human-to-human contact via voice and text. The 4G era represented a fundamental shift toward huge data consumption, whereas the 5G era has shifted its attention to linking the Internet of Things (IoT) and industrial automation systems.
In the 6G age, the digital, physical, and human worlds will fluidly merge to trigger extrasensory experiences. Intelligent information systems will be paired with robust computation skills to make humans infinitely more efficient and to reinvent how we live, work, and care for the earth.
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| 6G Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 50 % |
| Market growth 2023-2033 | US$ 300 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Apple Inc, AT&T Inc, Nokia Corporation, Google LLC, Intel Corporation, Huawei Technologies Co., Ltd, Verizon Communications Inc, Samsung Electronics Co., Ltd |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
A 6G network is a cellular network that runs in untapped radio frequencies and employs cognitive technologies such as AI to provide low-latency, high-speed communication at a rate many times faster than fifth-generation networks.
Increasing improvements in next-generation networks are expected to contribute to the overall growth of the 6G market. Increasing internet use has led to a sharp rise in the amount of information. All data and information are transmitted via communication networks. 6G is expected to have at least 20 times the wide-area capability of 5G. Furthermore, the 6G user-experienced data rate, which is expected to exceed 1,000 Mbps, is ten times faster than the 5G user-experienced data rate. Due to the numerous benefits, several countries worldwide are moving toward 6G.
North America, led by the United States, is predicted to account for a major share of the global 6G market owing to the presence of key companies, favorable government efforts, and various other factors.
Key Takeaways from Market Study
- The global 6G market stands at US$ 5 billion in 2023.
- Worldwide demand for 6G is projected to swell at a CAGR of 50% during the forecast period (2023 to 2033).
- The market for 6G products and services is forecasted to garner US$ 300 billion by 2023.
- North America is estimated to lead the global market over the next ten years.