The Global 5G smartphone market was worth USD 13.9 billion in 2021, and it is expected to grow at a compound annual growth rate (CAGR) of 139.1% between 2022 and 2030.
The fifth-generation smartphones enable users to connect to high-speed networks and enjoy faster data transfer speeds. Furthermore, the 5G smartphones' high bandwidth and ultra-low latency would improve the user experience when using 5G services for a variety of use cases, including ultra-high definition (UHD) video streaming and seamless video calling, augmented reality, and Virtual Reality (VR) gaming, among others. Furthermore, the availability of low-cost 5G smartphones with low power consumption and fast charging capability is expected to increase global demand over the forecast period.
Market Dynamics
Drivers
A smartphone is a device that allows the user to perform tasks other than making calls and sending text messages. A smartphone enables users to take photos, browse the internet, and operate various devices. Smartphones can process multiple applications simultaneously, including games, business programs, and personal use. The 5G smartphones enable users to connect to high-speed internet while providing improved data transfer speeds. Furthermore, the ability to work at ultra-low latency rates provided by 5G is expected to enhance the user experience in various situations, such as seamless video calling, virtual reality gaming, etc. The increasing number of IoT and connected devices is expected to propel 5G smartphone market growth.
Restraints
The large initial investments required to establish 5G smartphone manufacturing plants. Furthermore, high investment costs to set up 5 G-enabled towers and upgrade existing ones are expected to stymie 5G Smartphone market growth soon.
Key players:
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Huawei Technologies Co. Ltd.
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Samsung Electronics Co., Ltd.
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BBK Electronics Corporation
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Apple Inc.
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Motorola, Inc.
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Xiaomi Corporation
Market Segmentation:
5G Smartphone Market, By Operating System
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Android
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Windows
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IOS
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Others
5G Smartphone Market, By Sales Channel
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Online Sales
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Offline Sales
5G Smartphone Market, By Region
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North America
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Latin America
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Europe
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Asia Pacific
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Middle East & Africa
Regional Analysis:
The Asia Pacific regional 5G smartphone market is expected to be over XX% of total revenue in 2020. Furthermore, the APAC regional 5G smartphone market is expected to grow at a CAGR of more than XX% between 2020 and 2030. The region's leading smartphone manufacturers, such as Huawei Technologies Co. Ltd., Samsung Electronics Co., Ltd., and BBK Electronics Corporation, can be attributed to the region's growth. Furthermore, rising investments in 5G network infrastructure by key telecom operators such as China Telecom, KT Corporation, NTT Docomo, China Mobile, and Reliance Jio are expected to boost the region's adoption of 5G-enabled smartphones.
Europe is expected to grow at the fastest CAGR of XX% from 2020 to 2030 in terms of volume sales. This growth can be attributed to the region's increasing adoption of the 5G network, which creates a demand for high-speed data transfer compatible smartphones, thereby fuelling demand for fifth-generation smartphones. Furthermore, the rising demand for premium smartphones and the region's high disposable income are expected to drive 5G Smartphone market growth.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 139.1% |
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YoY growth (%) |
XX% |
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Regional analysis |
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Current Market size |
USD 13.9 Billion |
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Companies Covered |
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User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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