5G smartphone market
The global 5G smartphone market was valued at US$32.2 billion in 2021 and is expected to grow to US$9,794.9 billion by 2031, at a CAGR of 72.1% during the forecast period.
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5G is the fifth generation mobile network. It is a new global wireless standard after 1G, 2G, 3G and 4G networks. 5G technology enables a new type of network designed to connect almost everyone and everything together including machines, things and devices. Compared to 4G, which is what most smartphones are using now, 5G smartphones offer much more bandwidth and lower latency, which means they can support transmitting more data with fewer delays.
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The major players in the global 5G smartphone market
The major players studied in the global 5G smartphone market are Apple Inc. (United States) and Huawei Device Co., Ltd. (China), LG Electronics (South Korea), Motorola Mobility LLC (United States), Nokia Corporation (Finland), OnePlus Technology Co., Ltd. (China), OPPO (China), Samsung Electronics Co., Ltd. (South Korea), TCL (China), and Xiaomi Group (China).
Segmentation of the global 5G smartphone market
Depending on the operating system
By sales channel
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Market drivers and trends
A smartphone is a device that allows the user to perform various other tasks apart from just making a call and sending text messages. With the help of smartphones, the user can take pictures, surf the Internet and operate various devices. Smartphones can handle many applications at once, including games, business software, and personal use, among others. 5G smartphones allow users to access high-speed internet and also provide an enhanced experience in terms of data transfer speeds.
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