Global 5G Smartphone Market Report to 2027 - Increasing Mobile Device Usage Drives Growth - ResearchAndMarkets.com

Global 5G Smartphone Market Report to 2027 – Increasing Mobile Device Usage Drives Growth – ResearchAndMarkets.com

Dublin – (work wire)–The “Global 5G Smartphone Market: Analysis by Sales Channel (Online and Offline), by Shipment, by Region Size and Trends with Impact of COVID-19 and Forecast to 2027” Report added to ResearchAndMarkets.com Show.

The global 5G smartphone market in 2021 was valued at $32.21 billion. The market is expected to reach $4,167.07 billion by 2027. A 5G smartphone is a mobile phone with advanced features and functions that go beyond the traditional functions such as sending text messages, making calls, and supporting the fifth standard network mainly. Consumer interest in 5G devices is growing and thus chip makers are also pushing brands to use 5G chips in their new line of smartphones.

Due to the rise in the urban population, growth in consumer awareness around the increasing use of mobile devices, increased integration of augmented reality technology, and expansion of over-the-top (OTT) platform subscriptions will drive market growth in the coming years. The market is expected to grow at a CAGR of 124.90% during the forecast period 2022-2027.

Market Segmentation Analysis:

  • By Sales Channel: The report provides the bifurcation of the market into two segments based on the component: offline and online. In 2021, offline companies captured a large share of over 61% in the market. Popular offline sales channels include a variety of outlets, including retail outlets, supermarkets, mobile stores, and brand stores. A large number of consumers prefer to purchase electronics and consumer goods from local authorized brand stores as these stores allow consumers to experience the touch and feel of the phone before making a purchase.

  • By Shipments: The report also provided analysis based on shipments: The shipment of 5G smartphones is expected to increase during the forecast period due to the increasing demand for high-speed data connectivity for integrated IoT applications, such as smart home products and the increasing integration of augmented reality (AR) technology and virtual reality ( VR).

  • By Region: The report provides insights into the 5G smartphone market based on the regions, namely, Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific region captured the major share of more than 65% in the market, due to the increasing middle class, coupled with the high levels of disposable income, resulting in enhanced internet access and smartphone ownership. Many major countries like India and Vietnam will be operating 5G networks in the near future, which will contribute to the total number of 5G smartphones. In the Asia Pacific region, China has captured nearly 58% of the market share due to rapid economic growth and digital technologies. In North America, Mexico is expected to be the fastest growing region in the forecast period.

market dynamics

drivers

  • population growth

  • Increased use of mobile devices

  • Internet user penetration escalates

  • The Rising Integration of Augmented Reality

  • Expand Over-The-Top (OTT) subscriptions

  • Increase the number of esports viewers

Challenges

  • Security and privacy issues

  • Huge power consumption

  • High cost of operation and infrastructure

Market trends

  • Accelerating the adoption of 5G smartphones

  • The growing trend of connected Internet of Things devices

  • The escalating penetration of mobile e-commerce

  • Increased integration with artificial intelligence

mentioned companies

  • Apple company

  • Alphabet Inc. (Google)

  • Huawei Technologies Co., Ltd.

  • Lenovo Group Limited

  • Motorola Solutions Inc

  • Nokia company

  • Samsung Electronics Co., Ltd.

  • TCL . Technology

  • Xiaomi company

  • BBK Electronics Company

  • Transsion . Collectibles

For more information about this report visit https://www.researchandmarkets.com/r/5dmj3s

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