Europe 6G Market Analysis and Forecasts Report 2029-2035: Opportunities Emerging with Use of Holography in Communication, 6G in Growth of IoT, Blockchain, and AI, and UN SDGs and Mobile Communications
DUBLIN, Feb. 6, 2024 /PRNewswire/ -- The "Europe 6G Market - Analysis and Forecast, 2029-2035" report has been added to ResearchAndMarkets.com's offering.
The Europe 6G market is projected to be $0.32 billion in 2028, and it is expected to grow at a CAGR of 100.72% and reach $240.02 billion by 2035. Europe 6G market is expected to increase because of the increasing demand for low latency networks for particular applications, as well as the expanding use of edge computing devices and internet services.
Major players, including Nokia, Telefonaktiebolaget LM Ericsson, Vodafone Group, Deutsche Telekom AG, and Tele2 AB, among others, cater to the demand for 5G solutions and development of 6G in the Europe region. Due to their larger consumer bases, presence of key manufacturers and suppliers, and technological advancement in the telecommunications industry, Germany, Finland, Sweden, and Switzerland have indeed been highlighted as the leading countries in the development of the 6G market in Europe.
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Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Moreover, large investments will be required for developing new technology and carrying out extensive research and development efforts to meet the performance requirements of the next-generation network. Growing initiatives and support from governments across the globe are expected to further fuel the growth of the 6G market.
However, certain technical challenges, such as the lack of global security guidelines and standards for 5G and 6G and increasing risks of data security and privacy threats, might restrain the growth of the 6G market. 6G technology is projected to be introduced by 2028 in some parts of the developed countries, while the technology is estimated to witness significant growth across all the region from 2030 onward.
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