Global 5G Smartphone Market: Analysis By Sales Channel (Online and Offline), By Shipments, By Region Size And Trends With Impact Of COVID-19 And Forecast up to 2027

Global 5G Smartphone Market: Analysis By Sales Channel (Online and Offline), By Shipments, By Region Size And Trends With Impact Of COVID-19 And Forecast up to 2027

The global 5G smartphone market in 2021 was valued at US$32.21 billion. The market is expected to reach US$4167.07 billion by 2027. The 5G Smartphone is a mobile phone with advance features and functionality beyond traditional functionalities such as sending text messages and making calls and primarily support the fifth standard network. The consumers interest in 5G devices has been growing, therefore chipmakers are also pushing brands to use 5G chips in their new line-up of smartphones.

Due to the rise in urban population, growth in consumer awareness about the increasing usage of mobile devices, surging integration of AR technology, expanding over-the-top (OTT) platform subscriptions would propel the market growth in the forthcoming years. The market is expected to grow at a CAGR of 124.90 % during the forecast period of 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 held a major share of more than 61% in the market. The common offline sales channels include variety of outlets, including retailer outlets, hypermarkets, mobile stores, and brand stores. A large number of consumers prefer to buy electronics and consumer goods from local authorized brand stores as these stores enable consumers to have the touch-and-feel experience of a phone before purchase.

By Shipments: The report further provided the analysis based on the shipments: The shipment of 5G smartphones is predicted to increase during the forecast period owing to the surging demand for high-speed data connectivity for integrated IoT (Internet of Things) applications, such as smart home products and growing integration of Augmented Reality (AR) & Virtual Reality (VR) technology.

By Region: The report provides insight into the 5G Smartphone market based on the regions, namely Asia Pacific, North America, Europe and Latin America, Middle East & Africa. Asia Pacific held the major share of more than 65% in the market, owing to the increasing middle class, along with higher levels of disposable income, has boosted internet access and smartphone ownership. Many major countries such as India and Vietnam would switch on their 5G networks in the near future, which would contribute to the total 5G smartphone count. In the Asia Pacific region, China held almost 58% share in the market owing to the accelerating economic growth, and digital technologies. In North America, Mexico is expected to be the fastest growing region in the forecasted period.

Market Dynamics:

Growth Drivers: One of the most important factors impacting the global 5G Smartphone market is mounting penetration of internet users. With the increasing penetration of internet, smartphones have become popular because of the ability to surf the internet and doing the same activities that are done on a computer or a laptop. Often times, people use their smartphones in order to access their favorite video streaming sites and apps. Hence, mounting penetration of internet catalyzed the widespread of 5G smartphone market. Furthermore, the market has been growing over the past few years, due to factors such as surging integration of AR technology, expanding over-the-top (OTT) platform subscriptions, mounting penetration of internet users and upsurge in number of e-sports in recent years, and many other factors.

Challenges: However, the market has been confronted with some challenges specifically, security and privacy issues, massive power consumption, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as rising trend of connected IoT devices, accelerating adoption of 5G smartphones, escalating penetration of mobile e-commerce, etc. 5G smartphones support advanced applications like e-commerce with enhanced speed. Thus, escalating penetration of mobile e-commerce is predicted to help in the market expansion of 5G smartphones, globally.

Impact Analysis of COVID-19 and Way Forward:

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.

Competitive Landscape:

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:

Apple Inc.
Alphabet Inc. (Google)
Huawei Technologies Co., Ltd
Lenovo Group Limited
Motorola Solutions, Inc.
Nokia Corporation
Samsung Electronics Co., Ltd.
TCL Technology
Xiaomi Corporation
BBK Electronics Corporation
Transsion Holdings

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.

Global 5G Smartphone Market: Analysis By Sales Channel (Online and Offline), By Shipments, By Region Size And Trends With Impact Of COVID-19 And Forecast up to 2027 - Report Summary

Report Metrics	Details
Years Considered	2019-2027
Base Year	2021
Forecast Period	2022-2027
Page Count	120
Units Referenced	US$
Segments/Key Topics	By Sales Channel
Regions Covered	Asia Pacific (China, India and Rest of Asia Pacific), North America (The US, Mexico, and Canada), Europe (UK, Germany, France, Spain, Italy and Rest of Europe) and LAMEA (Latin America and the Middle East and Africa)
Key Companies Mentioned	Apple Inc., Alphabet Inc. (Google), Huawei Technologies Co., Ltd., Lenovo Group Limited, Motorola Solutions, Inc., Nokia Corporation, Samsung Electronics Co., Ltd., TCL Technology, Xiaomi Corporation, BBK Electronics Corporation and Transsion Holdings

What is the size of this market?
The global 5G Smartphone market in 2021 was valued at US$32.21 billion.

What is the forecasted growth for this market?
The market would reach US$4167.07 billion by 2027, growing at a CAGR of 124.90 %, during the forecast period of 2022-2027.

What are key factors driving this market?
In the forthcoming years, the market growth is likely to be driven by the growing population, increasing usage of mobile devices, surging integration of AR technology, expanding over-the-top (OTT) platform subscriptions, etc. Additionally, the escalating penetration of mobile e-commerce and rising integration with artificial intelligence and many other factors would support the growth of the market during the forecasted period.

How is this market segmented in this report?
In the report, the global 5G Smartphone market is segmented based on sales channel.

What is the definition of this market in this report?
Smartphone is a mobile phone with advance features and functionality beyond traditional functionalities such as sending text messages and making calls. The phones which support the fifth standard network are referred to as 5G smartphones.

What are the major influences driving the growth/decline of this market?
The global 5G Smartphone market growth is predicted to be supported by numerous growth drivers such as growing population, increasing usage of mobile devices, surging integration of AR technology, expanding over-the-top (OTT) platform subscriptions, mounting penetration of internet users, upsurge in the number of e-sports audience, accelerating adoption of 5G smartphones, and many other factors. Conversely, the market growth would be negatively impacted by various challenges such as security and privacy issues, massive power consumption, etc.