6G Market is expected to be valued around US$ 340.5 billion by 2040 | MRFR

Ready to take the leap into the future of connectivity? Discover the latest updates and advancements in the 6G market and stay ahead of the game.

NEW YORK CITY, NEW YORK, UNITED STATES, April 12, 2023/EINPresswire.com/ -- Market Research Future Insights

According to MRFR analysis, the Global 6G Market¹ is expected to register a CAGR of 28.10% from 2022 to 2030 and hold a value of over USD 340.5 billion by 2030.

The Global 6G Market refers to the global market for the next-generation wireless communication technology, known as 6G. 6G is expected to be a significant upgrade over the current 5G technology, offering faster data transfer rates, lower latency, and higher reliability, which will enable a host of new applications such as autonomous vehicles, virtual reality, and smart cities. It encompasses various industries such as telecommunications, information technology, manufacturing, and healthcare, among others, and is expected to grow rapidly in the coming years as the demand for high-speed and reliable wireless connectivity continues to increase.

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6G Industry Key Players

Some of the key market players are:

NOKIA
SAMSUNG ELECTRONICS
HUAWEI TECHNOLOGIES CO. LTD.
TELEFONAKTIEBOLAGET LM ERICSSON
QUALCOMM TECHNOLOGIES, INC.
AT&T INC.
LG ELECTRONICS
HPE
NTT DOCOMO INC.
ZTE CORPORATION
JIO INFOCOMM LTD.

The exact impact of the COVID-19 pandemic on the global 6G market, as the technology is still in its early development stage and is not expected to be widely deployed. However, the pandemic has affected the broader telecommunications industry, which is a key component of the 6G ecosystem. The pandemic has led to a surge in demand for high-speed and reliable connectivity, as more people work and study remotely, and businesses rely on digital solutions to maintain operations. This has accelerated the deployment of 5G networks, which are a precursor to 6G and has created opportunities for companies developing 6G technology to collaborate with telecommunications providers to develop new solutions to meet the growing demand for connectivity.

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Regional Analysis

The global 6G market is still in its early development stage and is not yet commercially available. However, the largest region for 6G market development and deployment is expected to be Asia-Pacific, which includes countries like China, Japan, South Korea, and India.

Asia-Pacific is expected to be the largest market for 6G due to the region's advanced telecommunications infrastructure and large population, as well as strong government support for research and development in the field of wireless communications. Countries like China and South Korea, in particular, have been investing heavily in the development of 6G technology and have set ambitious targets for its deployment.

Market Segmentation

The Global 6G Market has been segmented into components, applications, and end-user.

Based on the component, the market has been segmented into hardware, software, and services.

Based on the application, the market has been segmented into wireless brain-computer interactions, digital twins, and smart cities.

Based on the end-user, the market has been segmented into government, consumer, and industrial.

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¹ https://www.marketresearchfuture.com/reports/6g-market-10951
² https://www.marketresearchfuture.com/reports/healthcare-in-metaverse-market-10900
³ https://www.marketresearchfuture.com/reports/influencer-marketing-market-8408