Next-Generation Wireless Communication Market by Component (Hardware, Software), Technology Type (5G Networks, Li-Fi, Wi-Fi 6), Application - Global Forecast 2024-2030

Next-Generation Wireless Communication Market by Component (Hardware, Software), Technology Type (5G Networks, Li-Fi, Wi-Fi 6), Application - Global Forecast 2024-2030

The Next-Generation Wireless Communication Market size was estimated at USD 33.34 billion in 2023 and expected to reach USD 38.55 billion in 2024, at a CAGR 16.55% to reach USD 97.43 billion by 2030.

Next-generation wireless communication refers to the latest advancements and technologies in wireless systems developed to meet the increasing demand for quicker, more reliable, and higher-capacity telecommunications networks. This technology aims to surpass current wireless communication capabilities by improving the speed, efficiency, and scope of data transfer across the globe. Substantial public funding and favorable regulatory frameworks are essential to support infrastructure development and standardization. The exponential growth in device connectivity and data-intensive applications such as streaming and gaming underpins the demand for advanced wireless technologies. With increased connectivity, ensuring robust cybersecurity protocols becomes crucial, influencing market dynamics through security-focused product offerings. However, the high initial investment associated with upgrading infrastructure to support next-gen wireless technologies can be prohibitive. The complexity of new technologies may slow adoption among end-users unfamiliar with tech nuances. Furthermore, continued innovation in semiconductor technologies and software algorithms drives improvements in network efficiency and capabilities. Extending next-gen wireless technologies to underserved areas can open new markets and opportunities for inclusive growth.

Regional Insights

The American region is accelerated by initiatives such as the 5G Fast Plan, and next-generation wireless communications are rapidly growing. The focus is primarily on enhancing broadband infrastructure and rolling out 5G services across cities and rural areas. Consumer behavior in the Americas shows a high demand for faster internet speeds owing to increased mobile usage and consumption of streaming services. With respect to research and investment, America holds a significant number of patents related to 5G technology, reflecting robust activity in R&D. The EU is at the forefront, particularly in terms of regulatory frameworks promoting next-generation wireless communication development. There is a high commitment to enhancing both coverage and quality of internet services, with considerable public and private sector investment in 5G trials. EU consumers are keen on devices that offer reliable and fast connectivity, mirroring the region's overall push towards digital sophistication. The Middle East region exhibits rapid growth in next-generation wireless technologies, showcasing extensive use of 5G applications. UAE and Saudi Arabia are prominent in 5G adoption, impacting consumer expectations and experiences significantly. In APAC, China is a major country in the deployment of 5G technology, supported by government initiatives emphasizing advancements in technologies, including wireless communication. Chinese companies hold numerous patents in 5G technology, underscoring the country's prolific outputs in research and development. Japan's strategy emphasizes implementing 5G and preparing for 6G, demonstrating its commitment to staying ahead in technology innovation. India is vigorously expanding its digital infrastructure, backed by the government's ambitious Smart Cities Mission, which integrates IoT and wireless technologies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Next-Generation Wireless Communication Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing demand for dependable & smooth communication network globally
Government investments and regulations supporting infrastructure development and standardization
Upsurge in demand from automotive for vehicle-to-vehicle (V2V) and vehicle-to-everything (V2X) communications

Market Restraints

High initial investment associated with upgrading infrastructure to support next-gen wireless technologies

Market Opportunities

Technological advancements for improvements in network efficiency and capabilities
Extending next-gen wireless technologies into rural and remote area

Market Challenges

Technical complexity and limitations in spectrum availability

Market Segmentation Analysis

Technology Type: Ongoing advancements in Wi-Fi 6 to improve network efficiency and reduces congestion
Application: Expanding usage of next-generation wireless communication for critical communications infrastructure and smart city projects

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Next-Generation Wireless Communication Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Next-Generation Wireless Communication Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

NVIDIA's 6G Research Cloud Platform Sets the Stage for Next-Gen Wireless Innovation

NVIDIA has unveiled its groundbreaking 6G Research Cloud platform, designed to dramatically expedite the development of next-generation wireless technologies. This platform offers a comprehensive, open suite that integrates AI with radio access network technology, enhancing capabilities to advance the connectivity of trillions of devices to cloud infrastructures. This leap forward paves the way for a world enriched by smart environments, autonomous vehicles, immersive educational tools, and collaborative robotics.

WSense and ASN’s Strategic Collaboration to Create Underwater Wireless Communication

WSense has partnered with Alcatel Submarine Networks (ASN), a Nokia subsidiary known for its expansive optical submarine cable network. This collaboration aims to create advanced underwater wireless communication systems. This initiative seeks to revolutionize underwater exploration and real-time data collection, significantly enhancing our understanding of marine environments while minimizing ecological impact.

Bharat 6G Alliance Sets the Stage for Next-Generation Wireless Innovation

The Union Minister for Communications, Electronics, and Information Technology of India announced the formation of the Bharat 6G Alliance (B6GA), a breakthrough initiative aimed at advancing the next generation of wireless technology. This collaborative effort encompasses public and private enterprises, academia, research bodies, and standard-setting organizations, reinforcing India's commitment to tech innovation.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Next-Generation Wireless Communication Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Next-Generation Wireless Communication Market, highlighting leading vendors and their innovative profiles. These include Analog Devices, Inc., AT&T Inc., Cisco Systems, Inc., Honeywell International Inc., Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, LG Corporation, NEC Corporation, Netgear, Inc., Nokia Corporation, Nvidia Corporation, Panasonic Holdings Corporation, pureLiFi Ltd., Qualcomm Incorporated, Royal Philips, Samsung Electronics Co., Ltd., Semtech Corporation, Sigfox 0G Technology, T-Mobile International AG, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Vodafone Idea Limited, WSENSE S.r.l., and ZTE Corporation.

Market Segmentation & Coverage

This research report categorizes the Next-Generation Wireless Communication Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Hardware
Software
Technology Type
5G Networks
Li-Fi
Wi-Fi 6
Application
Automotive
Consumer Electronics
Government
Healthcare
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year