5G technology provides hyper-fast bandwidth and speed of up to three times faster than 4G. It delivers lag-free and extremely reliable services to support substantially scaled communications for a wide range of IoT devices and applications.
The technology is still in the early stages of deployment, and as it continues to evolve, full-scale adoption is yet to occur in the global market. The maturity of 5G technology will lead to the evolution of 6G technology, which is the more advanced version of the 5G ecosystem.
6G technology will provide extreme data rates in the range of over 100 Gbps to 1 TBps (Terabytes
per second) peak rate per user. The networks will also support extremely low latency of less than 1
millisecond, anytime, and everywhere. The technology could offer high-fidelity holograms, pervasive
artificial intelligence (AI), and multisensory communications.
6G will be able to integrate different technologies & applications and support holographic, haptic, space, and underwater communications. It is anticipated that 6G is 10 times faster than 5G, which will support autonomous vehicles and HD virtual reality worldwide and even in the most remote areas.
Next-generation 6G applications will generate enormous amounts of data, which will drive the need for supercomputers and graphene transistors, creating significant business opportunities for the electronics and the semiconductor industry.
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The competitive landscape of the 6G market consists of various strategies undertaken by major players including Samsung, Ericsson, Nokia, NTT Docomo, and Huawei. Some of the strategies adopted by market players are new product launches, R&D, and collaborations. For instance, NTT Docomo has announced 6G trials with Nokia and local vendors NEC and Fujitsu.
Moreover, Samsung entered into a partnership with Keysight to advance research and development programs of the 6G technology to develop AI-enabled air interfaces. AT&T, Samsung, and Qualcomm entered into collaboration with the University of Texas and launched a 6G research center in Austin.
Furthermore, Huawei is going big to beat the US sanctions, spending USD 22.1 billion on R & D in 2021, compared to just USD 4.9 million spent by Ericsson. Many countries are spending a significant amount of money on 6G technology. China is leading the 6G research with a 40.3% share in global
6G patent filings followed by the US with 35.2%, Japan with 9.9%, Europe with 8.9%, and South Korea with 4.2%. China sustains its competitiveness in the 6G market with the collaboration of state-run companies and universities under the " Made in China 2025" initiative.
Globally, only the U.S. and China are dominating the 6G market, but the European region is playing an important role. For instance, Ericsson, the Swedish company, and the University of Oulu in Finland are publishing their research papers and the European Union is taking key initiatives in standardization.
In addition to this, South Korean companies Samsung Electronics and LG Electronics have established 6G development centers and the South Korean government is subsidizing the 6G development programs.
Globally, it is estimated that 100 trillion sensors are expected to be manufactured and connected to the internet by the end of 2030 to revolutionize 6G. Furthermore, the deployment of 6G networks will bring enormous business opportunities for telecommunication companies, helping them to find new sources of revenue and business models.
The 6G market is expected to be around USD 8.76 billion by 2030. Major driving factors for the 6G market are the high emphasis on low latency networks, rising adoption of IoT & blockchain technologies, growth of smart technologies, rapid urbanization, and increased focus on satellite communication.
Moreover, the increasing focus of governments on promoting smart cities will have a significant impact on the adoption of 6G technologies. However, the expensive need for high investments for the 6G network may become a challenge for the growth of the 6G market.
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