Since its introduction, smartphones are showing an increase in its demand and also experiencing a raft of new handsets every year. Users want new features and more speed in their handsets.
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5G mobile phones market size
The global shipment of 5G smartphones in 2019 reached around 8 million units and is expected to reach over 1.2 billion units by 2025.
The global 5g smartphone market size in value terms reached US$ 7 billion in 2019. The market size in value terms is expected to reach about US$ 400 billion in 2025.
Analysis of the global 5G phones market
The overall global mobile phones shipments have been showing a decline over the last few quarters. However, the growth in the smartphone market is going to be driven by various latest features including 5G enabled smartphones. Although, there is no stable 5G network around the world, as the 5G deployment is still progressing around the globe.
Although 5G network was first launched in Seoul, South Korea, Europe has a bigger market share of 5G smartphones. Most countries in Europe have already started deploying the 5G network in various cities.
5G mobile phones have already been launched by some companies and more models are on the way in the near future. It is expected that the 5G network will attract more customers once the 5G network is formally launched on a commercial scale.
5G handsets will attract more customers due to its compatibility with the fast 5G network. Some mobile phone manufacturers, such as Samsung, have added additional features, e.g. blockchain wallet in 5G handset S10, which is attracting more customers.
Some of the players which already launched their 5G enabled smartphones include: