The global 5G smartphone market was valued at US$ 32.2 billion in 2021 and it is anticipated to grow up to US$ 9794.9 billion by 2031, at a CAGR of 72.1% during the forecast period.
Global 5G smartphone report from Global Insight Services is the single authoritative source of intelligence on 5G smartphone market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
5G is the 5th generation mobile network. It is a new global wireless standard after 1G, 2G, 3G, and 4G networks. 5G enables a new kind of network that is designed to connect virtually everyone and everything together including machines, objects, and devices. Compared to 4G, which is what most smartphones use now, 5G smartphones offers a lot more bandwidth and lower latency, which means it can support the transfer of more data with fewer delays. Put simply, smartphone owners will be able to do things like upload or download videos and photos a lot faster. Also, the 5G smartphones permit the users to access high speed network and greater experience in terms of transferring data and use multiple applications along with the great download and upload speed. The accessibility of 5G smartphones that consume low power is anticipated to drive market growth during the forecast period.
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Global 5G Smartphone Market Segmentation
- Android
- Windows
- IOS
- Others
By Sales Channel
- Online Sales
- Offline Sales
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Key Players
- Apple Inc. (U.S.)
- Huawei Device Co., Ltd. (China)
- LG Electronics (South Korea)
- Motorola Mobility LLC (U.S.)
- Nokia Corporation (Finland)
- OnePlus Technology Co., Ltd. (China)
- OPPO (China)
- Samsung Electronics Co., Ltd. (South Korea)
- TCL (China)
- Xiaomi Group (China)
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Market Drivers and Trends
A smartphone is a device that permits the user to perform various other tasks apart from just making a call and sending text messages. With the help of smartphones, a user can take photos, browse the internet, and operate various devices. Smartphones can process several applications in a single go, including games, business programs, and personal use, among others. The 5G smartphones allow users to access high-speed internet and also give an enhanced experience regarding data transfer speeds. Additionally, the ability to work on ultra-low latency rates offered by the 5G is anticipated to improve the user experience for several instances, such as seamless video calling, virtual reality gaming, and others. The rising number of IoT and connected devices is anticipated to drive market growth.
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