Next-generation communication devices market is anticipated to grow at a considerable CAGR of 20.0% during the forecast period. The market growth is attributed to factors such as the widespread adoption of 5G technologies, the increasing demand for Visible Light Communication/ Li-Fi, the growing deployment of Wireless Sensor Networks (WSN) in various industries, and the continuous development of other innovative communication technologies. A supportive government policy to boost advance communication technologies is anticipated to propel the market. For instance, in April 2021, The National Science Foundation (NSF) of the US, in partnership with the Department of Defense Office of the Undersecretary of Defense for Research and Engineering, the National Institute of Standards and Technology, and nine leading companies, launched a program to accelerate research on next-generation networking and computing systems. Through a $40 million investment, the NSF-led RINGS program support research on future versions of the cellular, Wi-Fi, and satellite networks. It lay the groundwork for the next-generation wireless connections that enable faster service, networks more resilient to natural disasters and service interruptions, and broader access for people around the globe.
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The global next-generation communication devices market is further segmented based on geography, including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these regions, Europe is anticipated to witness prominent growth in the next-generation communication devices market, driven by advancements in communication technologies, strong government initiatives, and increasing demand from various industries. Growing funding and investment from both private players and government organisations to boost next generation communication technology is driving the market. For instance, in April 2021, Germany’s Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung, or BMBF) allocated $500 million towards 6G R&D during the 2022-2027, with an initial aim of creating the basis for an innovation ecosystem for future communication technologies around 6G.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Next-Generation Communication Devices Market Report Segment
By Technology
- 5G
- Visible Light Communication / Li-Fi
- Wireless Sensor Networks (WSN)
- Other Technologies (Satellite Communication, Millimeter-Wave Technology)
By End-User Industry
- Manufacturing
- Military & Defense
- Automotive
- Transportation
- Other End-user Industries (Healthcare, Irrigation)
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global next-generation communication devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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