5G is the term that is used to describe next generation of network compared to other LTE networks. 5G smartphones provide faster speed and greater bandwidth which means more devices can use the network at the same time. The increasing demand for internet connectivity in various industries such as healthcare, automotive, retail is expected to drive market growth during the forecast period. Furthermore, major players operating in this market are focusing on developing products with new features and technologies to gain a competitive edge in the market. Industries are developing 5G smartphones with new features to cater to demand from end users. On September 1, 2020, Motorola launched the One 5G android smartphone with features such as dual punch-hole cameras and a 90Hz display in U.S.
Market Dynamics
The growing trend of e-commerce platforms for purchasing goods is a major factor that is expected to drive the 5G smartphone market growth during the forecast period. Moreover, technological advancements in mobile devices and adoption of internet of things (IoT) is expected to drive the market growth during the forecast period. The growing penetration of smartphones and internet has benefited the e-commerce sector. Moreover, the e-commerce sector in U.S. witnessed rapid growth which is expected to facilitate growth of the 5G smartphone market. According to Coherent Market Insight’s report, in the U.S., e-commerce sales increased from 274,534 million in 2017 to 419,723 million in 2020. In February 2020, Realme launched a 5G smartphone in India through e-commerce platforms such as Flipkart and Amazon. The new smartphone enables both 4G and 5G services.
Moreover, the number of smartphones users are increasing across the globe. According to Coherent Market Insights, the penetration of smartphones increased worldwide from 2.8 billion in 2018 to 3.8 billion in 2020. Furthermore, through web-based apps on smartphones, retail companies not only generate leads, but also gain an understanding of consumer-behavior. Thus, in turn, is expected to drive the market growth over the forecast period.
Key features of the study:
This report provides in-depth analysis of the global 5G smartphone market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2020– 2027), considering 2019 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
It profiles leading players in the global 5G smartphone market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
Companies covered as a part of this study are Huawei Technologies Co., Ltd., SAMSUNG, Apple Inc., BBK Electronics Corporation, Motorola Mobility LLC, LG Electronics, OPPO Mobile Communication Co., Ltd., Xiaomi, Nokia, ASUSTeK Computer Inc., Sony Corporation, Micromax, HTC Corporation, and Lenevo
Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
The global 5G smartphone market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global 5G smartphone market.
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions.
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Trupti Joined: March 17th, 2021 Articles Posted: 36
