Press Release

Growing Demand for Low-Latency Networks Expected to Augment Global 6G Market

The Global 6G Market is projected to grow at a CAGR of around 26.5% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Increasing reliance on internet technology and communication networks is making individuals, as well as end-user industries less tolerant of data transmission delays, even as short as a single millisecond. This is because these delays can have significant impacts on various business tasks and lead to a decline in their business profits, especially in critical sectors like autonomous vehicles.

Additionally, recent advancements in internet technology are enabling the utilization of interactive applications such as personalized web browsing, online gaming, video conferencing, and financial trading, all of which necessitate minimal latency. Thus, underscoring the critical need for robust and low-latency network infrastructure to meet the expectations of industries transforming to digitalized offerings. This forward-looking approach is poised to strengthen the commitment to the 6G market, further states the research report, "Global 6G Market, 2024."

IT & Telecom Sector Expected to Dominate the Global 6G Market

Based on the end user, the market is divided into Banking, Financial Services and insurance (BFSI), Consumers, IT & telecom, Manufacturing, Healthcare, Retail, Media and entertainment, and Others (Education, Tourism, etc.). Among them, the Telecom & IT sector is poised to be a dominant consumer of 6G services in the foreseeable future. The sector's strong demand for next-generation wireless technology, unparalleled data speeds, and ultra-low latency networks is a key factor for its substantial presence in the 6G market.

The Global 6G Market is projected to grow at a CAGR of around 26.5% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Increasing reliance on internet technology and communication networks is making individuals, as well as end-user industries less tolerant of data transmission delays, even as short as a single millisecond. This is because these delays can have significant impacts on various business tasks and lead to a decline in their business profits, especially in critical sectors like autonomous vehicles.

Additionally, recent advancements in internet technology are enabling the utilization of interactive applications such as personalized web browsing, online gaming, video conferencing, and financial trading, all of which necessitate minimal latency. Thus, underscoring the critical need for robust and low-latency network infrastructure to meet the expectations of industries transforming to digitalized offerings. This forward-looking approach is poised to strengthen the commitment to the 6G market, further states the research report, "Global 6G Market, 2024."

IT & Telecom Sector Expected to Dominate the Global 6G Market

Based on the end user, the market is divided into Banking, Financial Services and insurance (BFSI), Consumers, IT & telecom, Manufacturing, Healthcare, Retail, Media and entertainment, and Others (Education, Tourism, etc.). Among them, the Telecom & IT sector is poised to be a dominant consumer of 6G services in the foreseeable future. The sector's strong demand for next-generation wireless technology, unparalleled data speeds, and ultra-low latency networks is a key factor for its substantial presence in the 6G market.