5G Smart Phone Market by Operating System (Android, Windows, IOS, and Others), Sales Channel (Offline Channel and Online Channel), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

5G Smart Phone Market Analysis

The global 5G smart phone market is anticipated to garner $6,574.7 billion in the 2021–2028 timeframe, growing from $16.1 billion in 2020, at a healthy CAGR of 124.4.

Market Synopsis

The 5G smart phone market is expected to grow due to growing demand for the connected devices across the globe. Additionally, acquisitions and business expansion by key market players have boosted the market growth.

The rise in the prices of the 5G smart phones is the major factor anticipated to hamper the market growth in the near future.

According to the regional analysis of the market, the Europe 5G smart phone market is anticipated to grow at a CAGR of 134.7%, by generating a revenue of $2,090.1 billion during the review period.

5G Smart Phone Overview

The 5G smartphones permit the users to access high speed network and greater experience in terms of transferring data and use multiple applications along with the great download and upload speed. The accessibility of 5G smartphones that consume low power is anticipated to drive market growth during the forecast period.

Impact Analysis of COVID-19 on the Global 5G Smart Phone Market

The outbreak of COVID-19 has affected various industries and has witnessed a downfall of the business. COVID-19 has also impacted the growth of 5G smartphone market as the manufacturing operations were shutdown and there was shortage of the 5G chipsets in the industry due to the disruption in the production. The key players such as Xiaomi, LG, and Samsung among others also suspended their operation in China, South Korea, and others. For instance, in May 2020, OPPO had shut down its operations in Noida, India. Moreover, the demand for 5G smart phones has decreased due to the lock down that was imposed across the globe as many people around the world lost their jobs.

It is anticipated that post pandemic the 5G smart phone market will experience a rapid growth due to development of various technologies as well as the increasing demand for high-speed data connectivity.

Increasing Demand for IoT Projected to Drive the Market Growth

A smart phone is a device that permits the user to perform various other tasks apart from just making a call and sending text messages. With the help of smart phones, a user can take photos, browse internet, and operate various devices. The smart phones have the capabilities to process number of applications at a single go which include games, business programs, and personal use among others. The 5G smart phones allow the users to access the high-speed internet and also give an enhanced experiences in regard to the data transfer speeds. Additionally, the ability to work on ultra-low latency rates offered by the 5G is anticipated to improve the user experience for several instances such as seamless video calling, virtual reality gaming, and others. The rising number of IoT and connected devices is anticipated to drive the market growth.

To know more about global 5G smart phone market drivers, get in touch with our analysts here.

High Maintenance Cost is Anticipated to Restrain the Market Growth

The high initial investments in order to setup 5G smart phone manufacturing plants. Additionally, high investment cost in order to setup 5G enabled towers and upgrading the existing towers is anticipated to hamper the market growth in the near future.

Rise in Demand for Connected Devices across the Globe to Create Growth Opportunities

The rising demand for the connected healthcare devices, home devices, and connected automobiles is anticipated to create better growth opportunities in the near future. Moreover, fifth-generation smartphones evolution led to various organizations around the world focus on integrating their infrastructure and devices with the new upcoming 5G integrated smart technologies. Also, existing on-premise applications operations of various companies are being integrated to cloud networks for seamlessly accessing the 5G smartphones over a centralized network across the globe, thus boosting the product adoption.

To know more about global 5G smart phone market opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The android sub-segment is anticipated to have the fastest growth rate and generate a revenue of $3,448.9 billion by 2028, growing from $8.1 billion in 2020.
The growth is majorly due to the cost affordability, compatibility to various number of applications and ease of use. Additionally, the advanced android-based devices have ability to allow the users to multi-task and are equipped with sensors and various security benefits such as fingerprint unlocking of phone. These factors act as a competitive edge over other operating systems.

Source: Research Dive Analysis

The online channel sub-segment of the global 5G smart phone market is anticipated to grow at the highest CAGR of 139.7% and reach $3,155.4 billion by 2028, growing from $6.1 billion in 2020.
The online channel is anticipated to grow due to various factors such as E-commerce platforms providing elasticity to consumers to shop from anywhere, anytime. Additionally, online channels offer great deals and various number of brands all at a single place so that it becomes easy for the buyers to select their desired smartphones. Major e-commerce market players are Flipkart, Amazon, and Apple store, among others.

Global 5G Smart Phone Market, Regional Insights:

The 5G smart phone market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Europe 5G Smart Phone Market is Anticipated to Experience the Fastest Growth Rate

5G smart phone market for Europe region is anticipated to grow at a higher CAGR of 134.7% and reach $2,090.1 billion by 2028.
The Europe market growth is majorly attributed to the increasing adoption of 5G network in this region, which is further fueling the need for the high-speed data transfer compatibility smartphones, which is further expected to rise the demand for 5G smart phone in the near future. Additionally, the rising demand for the premium smart phones along with the high disposable income of consumer is projected to drive the Europe region 5G smart phone market in the near future. Growing demand for the technologically advanced smart phone is fueling the demand for 5G smartphones market over the forecast period.

Competitive Scenario in the Global 5G Smart Phone Market

Product advancements, innovations, and business expansion are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading 5G smart phone market players are Huawei Technologies Co., Ltd., Samsung Electronics Co. Ltd., Apple Inc., Motorola, Inc., BBK Electronics, LG Electronics Inc., Xiaomi Corporation, TCL Communication Limited, Nokia Corporation, and Lenovo Group Limited.

Porter’s Five Forces Analysis for the Global 5G Smart Phone Market:

• Bargaining Power of Suppliers: The number of 5G smart phone players is high. There is a growing demand for the 5G smart phones from various countries which is anticipated to boost the market growth.
  Thus, the bargaining power suppliers is moderate.
• Bargaining Power of Buyers: Bargaining power of buyers is moderate as the product availability is very high and the number of players present in this market are also high. 
  Thus, the bargaining power of the buyers is moderate.
• Threat of New Entrants: The companies entering 5G smart phone market have to deal with high investment cost and adhere to the environmental regulations as well. 
  Thus, the threat of the new entrants is low.
• Threat of Substitutes: The availability of the alternatives for the 5G smart phone is very low. 
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is extensive mainly because the number of players operating in 5G smart phone industry are focusing on enhancing the efficiency of the battery, business expansion, and product innovations.
  Therefore, competitive rivalry in the market is high.