The 6G Market is yet to start as NTT Docomo has announced 2030 as the launch year for 6G. All the telecommunication companies that are the most important stakeholder in the 6G market are currently focused on developing 5G spectrums and working toward the transition from 4G to 5G. Currently, the focus for 6G is limited to research and development, which is why most of the companies such as smartphone manufacturers, semiconductor vendors, smart technology vendors, and other important technology-oriented companies are focusing on developing applications for the 6G spectrum. These applications include smart cities, edge devices, autonomous vehicles, holographic communication, and satellite communication. Such developments are expected to boost the development of supportive 6G technologies, which will eventually have a huge impact on the 6G market.
Major driving factors for the 6G industry are the growing emphasis on connectivity and rising demand for 6G communication in recently developed technologies such as IoT and blockchain. Thus, commercialization of such connectivity dependent technologies will get a boost with high-speed internet and remote connectivity, which are characteristics of 6G technologies. Another core factor that will have a significant impact on the market is rapid urbanization and communication becoming a basic right for human sustenance. A large population has already migrated to large cities for more opportunities and better life. Communication and connectivity have played a significant role in this migration. Increasing efforts toward promoting smart cities and increasing urban population are also expected to have a significant impact on the adoption of 6G technologies.
Competitive Landscape
The competitive landscape of the 6G market consists of different strategies undertaken by major players across the telecommunication and electronics industries to gain an early market presence. Some of the strategies adopted by network and consumer electronics providers are new product launches, business expansions, partnerships, and collaborations. Among all the strategies adopted, partnerships, collaborations, and joint ventures have been the most prominent strategies adopted by telecommunication and electronics providers. The competitive landscape provides an organization with the edge to understand its key business strategy in the industry, its current competitors, and potential future competitors that might have made their way into the market.
The 6G market is poised to grow over time, compelling companies to come up with collaborative strategies to sustain in the intensely competitive market. Companies with an identical product portfolio, with a need for additional resources, often partner and come together for joint venture programs, which help these companies gain access to one another’s resources and facilitates them to achieve their objectives faster. This strategy has been a widely adopted strategy by the players in this market. For instance, in January 2021, Google cloud and Nokia entered a partnership to work together on the cloud-native 5G core and develop the network edge as a business services platform for enterprises.
Key players in the 6G market are coming up with different product launch activities to generate public awareness about the new and upcoming developments that will lead to the advent of products supporting the 6G technology. Product development and innovation have helped these companies to compete with the competitors' product portfolio. This strategy has also been a widely adopted strategy by the players in this market. For instance, in August 2020, China Unicom set up over 150,000 base stations in the country, with its 5G network playing a big role in the growth of the company.
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Key Questions Answered in this Report:
- What is the expected market scenario for 6G after it is launched in 2030?
- How will the current market developments affect the market for 6G?
- What are the underlying structures resulting in the emerging trends within the 6G market?
- What are the estimations for the 6G market size in terms of revenue starting from 2030, and expected compound annual growth rate (CAGR) during the forecast period?
- What is the expected outlook and revenue to be generated by the different types of product offerings such as device and communication infrastructure?
- What is the expected outlook and estimated revenue of different applications segmented as consumer and industrial applications?
- Who are the different stakeholders, and what is their role in the development of 6G market?
- What is the current market size, forecast, and regional market trends for the 6G market across different regions, namely, North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa?
- What are the major challenges inhibiting the growth of the 6G market?
- What are the new growth strategies (mergers and acquisitions, partnerships, expansions, products, and others) being adopted by the existing market players to expand their market share in the industry?
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