The 5G Smartphone is a mobile phone that primarily supports the fifth standard network, with advanced features and capabilities that go beyond basic functions like texting and calling. Consumer interest in 5G devices is rising, thus chipmakers are pushing businesses to include 5G processors in their new smartphone lineup.

The rise in urban population, increased consumer awareness regarding rising mobile device usage, surging integration of AR technology, and expanding over-the-top (OTT) platform subscriptions would drive market expansion in the coming years. The global 5G Smartphone market is expected to reach US$162.90 billion in 2023, witnessing growth at a CAGR of 124.89%, during the forecasted period.

Top Impacting Factors:

Growth Drivers
• Growing Population
• Increasing Usage of Mobile Devices
• Mounting Penetration of Internet Users
• Expanding Over-The-Top (OTT) Platform Subscriptions
Challenges
• Security & Privacy Issues
• Massive Power Consumption
Trends
• Rising Trend of Connected IoT Devices
• Escalating Penetration of Mobile E-Commerce
• Rising Integration with Artificial Intelligence
• Accelerating Adoption of 5G Smartphones

Analysis of Key Players:

The global 5G smartphone market is highly consolidated, with a few number of large scale manufacturers accounting for a major revenue share. The key players in the global 5G Smartphone market are:
• Alphabet Inc. (Google)
• Samsung Electronics Co., Ltd.
• Apple Inc.
• Nokia Corporation
• Huawei Technologies Co., Ltd.
• Lenovo Group Limited
• TCL Technology
• Motorola Solutions, Inc.
• Transsion Holdings
• Xiaomi Corporation
• BBK Electronics Corporation

Some of the strategies among key players in the market for 5G smartphones are mergers, acquisitions, and collaborations. For instance, in 2022, Lenovo Group Limited and PCCW Limited entered into definitive agreements to establish a strategic partnership to create a technology solutions business in the Asia Pacific region. And, in 2022, Motorola Solutions launched WAVE PTX, an instant communication service via broadband subscription, with nationwide coverage, allowing companies to connect their different work teams instantaneously and reliably in order to keep operations up and running, independent from network technology.

The COVID-19 Analysis:

The outbreak of the COVID-19 pandemic has notably hampered the overall electronics manufacturing industry across key countries, such as China, Japan, Taiwan and several other Asian countries. The pandemic has also affected the exports and imports of electronic and other products globally, owing to the shutdown of borders of key countries. However, the growing number of COVID-19 cases across the globe increased the usage of smartphones as a result of sedentary lifestyle during lockdown and it is expected to boost the 5G smartphone market growth.

For more Information:

https://www.konceptanalytics.com/report/telecom-it/global-5g-smartphone-market-by-sales-channel-shipments-region-insights-and-forecast-with-potential-impact-of-covid-19-2022-2027

Koncept Analytics
Vikas Gupta
(Business Development Manager)
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