Global 6G Market is Estimated To Touch $40.2 Billion By 2030

CIOTechOutlook Team | Saturday, 01 July 2023, 02:15 IST

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As per the recent analysis by MarketsandMarkets, the size of the worldwide 6G Market will increase from USD 5.1 billion in 2023 to USD 40.2 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 34.2% during the projected period. The development and use of 6G technology is being driven by the requirement for an advanced network infrastructure with extremely low latency and widespread device connectivity to support disruptive use cases across sectors.
 
The 6G market is poised to revolutionize connection and open up a world of opportunities in the quickly changing digital landscape. The need for ultra-high-speed and dependable connectivity has turned into a driving force behind the expansion of the 6G industry as people around the world look forward to the arrival of the next generation of wireless technology. Investments in R&D have surged as a result of investors and industry participants realizing the 6G market's enormous potential.
 
During the projection period, the 6G market's distributed sensing and communications application is expected to have the greatest market size. Distributed sensing and communications are anticipated to expand rapidly with the introduction of 6G technology and find numerous applications in smart cities, healthcare, transportation, and environmental monitoring.
 
The adoption of 6G networks enables seamless connectivity between a variety of sensors, gadgets, and systems, enabling effective data collection and transmission, improving situational awareness, decision-making procedures, and the capacity to react quickly to changing conditions. Distributed sensing and communications can enable intelligent traffic management, proactive infrastructure repair, and efficient resource allocation in sectors like transportation.
 
With the greatest market share, the manufacturing industry is positioned to dominate the 6G market during the projection period. Manufacturing businesses are becoming more aware of 6G technology's disruptive potential as it rapidly advances to improve their operations. 
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