New BCC Research Report Forecasts How the Global 6G Market Will Develop between 2030 and 2040

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Nov 06, 2023, 06:33 ET

The global market for 6G will grow from $4.1 billion in 2030 to $6.7 billion in 2040 at a compound annual growth rate (CAGR) of 68.6%, BCC analysts predict.

BOSTON, Nov. 6, 2023 /PRNewswire/ -- Smarter AI, Extended Reality (XR), Internet of Things (IoT), autonomous vehicles, AGVs, smart cities, and other future innovations can't happen without 6G networking. Anyone working in technology should have a road map for how the next generation of cellular networks will develop.

With the ability to support millions of devices simultaneously, 6G networking will accelerate the growth of the telecommunication industry like never before. Holographic communications will finally be feasible, mobile broadband will have immensely more power, and virtual reality will become a less niche sector. All of these industries and more will be drastically affected once 6G begins replacing 5G.

BCC's report, Global 6G Market: Emerging Opportunities, encapsulates the latest insights about 6G's future. The report delves into what's happening at companies are working to develop 6G, including:

Vodafone Group, a British telecommunications company collaborating with leading research and medical teams to explore healthcare applications of 6G technology.
LG Corporation, the multinational conglomerate famous for home technology, has successfully tested 6G over 320 meters and is currently developing 6G speeds of 1 TB per second. They aim to use this speed both indoors and outdoors.
SK Telecom, a South Korean telecommunications company, has collaborated with NTT Docomo to plan new 5G and 6G cellular infrastructures and take advantage of virtualized radio access network technology.

The global market for 6G technology is expected to grow by more than $2 billion between 2030 and 2040, at a CAGR of 68.6%. This eye-popping growth creates opportunity for investors and entrepreneurs who have insight into the technology's expected development. Currently, Asia-Pacific holds the highest market share.

6G technology network providers, such as Cisco Systems and Intel Corporation, will benefit from this report. The report will also be helpful to technology investors, government agencies, network equipment manufacturers, and students and faculty academic institutions (especially ones with a heavy focus in network technology).

Download Report Overview

For further information or to make a purchase, please get in touch with [email protected].

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