5G SMARTPHONE MARKET ANALYSIS

Regional Analysis

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East, and Africa

Asia Pacific is expected to hold dominant position in the global 5G smartphone market during the forecast period.

Asia Pacific held dominant position in the global 5G smartphone market in 2019 and is projected to retain its dominance throughout the forecast period owing to presence of key players in the region such as Samsung, Huawei Technologies Co., Ltd., LG Electronics, OPPO Mobile Communication Co., Ltd., Xiaomi, and BBK Electronics Corporation. In April 2020, Samsung launched new Galaxy A51 and Galaxy 71 5G smartphones with features such as Infinity-O display, 5G connectivity, long-lasting battery, and quad camera. This is attributed to the growing smartphone penetration in the region and increasing usage of internet-connected devices. According to Coherent Market Insights, in China, the penetration of smartphones increased from 41.3% of population in 2016 to 61.2% of population in 2020.  Moreover, increasing investments by telecom operators such as KT Corporation, NTT Docomo, China Telecom, Reliance Jio, and China Mobile are focusing on deploying 5G network infrastructure, which is expected to drive market growth during the forecast period.

North America is expected to exhibit significant growth during the forecast period owing to the rising disposable income and urbanization in the region. The rising demand for new technology premium 5G smartphones and high adoption of 5G network generates the demand for high speed data transfer. For instance according to Coherent Market Insight’s report, the number of smart phone users in the U.S. increased from 209.5 million in 2016 to 273.3 million in 2020.