Global 5G smartphone market is anticipated to grow at a significant CAGR of 11.7% during the forecast period (2024-2031).A major factor supporting the growth of the market is the increasing demand for high-speed and low-latency connectivity. As more consumers rely on their smartphones for various tasks, including streaming, gaming, and remote work, there is a growing need for faster and more reliable network connections. 5G technology promises to deliver significantly higher data speeds and lower latency compared to previous generations, making it an attractive option for consumers seeking enhanced mobile experiences.
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For instance,in April 2024, Motorola Launched its latest premium smartphone, the Motorola Edge 50 Pro, in India. Representing a convergence of intelligence and art, this flagship device promises to redefine the premium smartphone segment with the world's first AI-powered Pro-Grade Camera validated by Pantone for true colours and human skin tones, alongside the world's first True Color Display, the Motorola edge 50 pro sets new benchmarks in photography and visual experience. Crafted with precision in Italy's Moonlight Pearl Finish, it boasts features like a Snapdragon 7 Gen 3 processor, 125W TurboPower charging, 50W wireless charging, IP68 underwater protection, and up to 12GB RAM with 256GB storage. This launch heralds a new era of innovation in smartphone technology, offering users unparalleled performance and sophistication.
According to the Ministry of External Affairs Government of India, India is poised for a significant shift in smartphone exports, with 5G shipments expected to surpass 4G by the end of 2023. Despite anticipated declines in smartphone shipments due to supply chain challenges, the rise of 5G adoption and affordable smartphone options are driving demand. By 2023, 30% of 5G smartphones priced under $250 are projected to flood the market, up from 4% in 2022. The report forecasts 5G smartphone exports to exceed 100 million by Q2 2023, fueled by geopolitical stability and government initiatives promoting 5G software updates. With government support, including Product Linked Incentives, India's telecom sector is primed for growth, with Apple anticipated to double its iPhone shipments next year.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Operating System
o By Sales Channel
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includesApple Inc., Google, Samsung Electronics, China Mobile, Huawei Technologies Co., Ltd. and others.
Key questions addressed by the report.
Global 5G Smartphone Market Report Segment
By Operating System
By Sales Channel
Global 5G Smartphone Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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