5G Smartphone Market Scope
5G wireless technology provides high speed and connectivity such as delivering multi-Gbps peak data speeds. 5G technology also offers ultra-low latency and massive network capacity for smartphones to provide an efficient user experience. Developments in the 5G technology offer numerous advantages that comprise indispensable communications, heightened mobile broadband, and the considerable incorporation of IoT. Due to the rising incorporation of wireless broadband connections that increase the speed and responsiveness of wireless networks, there is a surge in the adoption of 5G-enabled smartphones. This accelerates growth in the 5G smartphone market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Apple Inc. (United States), Samsung Electronics Co. Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Motorola, Inc. (United States), BBK Electronics (China), Xiaomi Corporation (China), Nokia Corporation (Finland), TCL Communication Limited (China), Transsion Holdings (China) and LG Electronics Inc. (South Korea)|
Various technology enhancements, product launches, and strategic initiatives by the key industry players are maintaining competitiveness in the 5G smartphone market. The leading companies are implementing strategic activities such as the launch of advanced features in smartphones, partnerships, and collaboration amongst leading smartphone manufacturers and technology providers to aid in market domination. Research Analyst at AMA estimates that Chinese Players will contribute to the maximum growth of Global 5G Smartphone market throughout the predicted period.
Apple Inc. (United States), Samsung Electronics Co. Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Motorola, Inc. (United States), BBK Electronics (China), Xiaomi Corporation (China), Nokia Corporation (Finland), TCL Communication Limited (China), Transsion Holdings (China) and LG Electronics Inc. (South Korea) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Lenovo Group Limited (Hong Kong) and ASUSTeK Computer Inc. (Taiwan).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global 5G Smartphone market by Type , by Application (Artificial Intelligence, Internet of Things, Logistics & Shipping, Smart Farming, Augmented Reality and Virtual Reality and Others) and Region with country level break-up.
On the basis of geography, the market of 5G Smartphone has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn June 2022, Qualcomm Technologies, Inc. acquired Cellwize Wireless Technologies Pte. Ltd., a leader in mobile network automation and management to accelerate its market position as a leader in 5G Radio Access Networks (RAN) innovation and adoption. This further strengthened the company’s 5G infrastructure solutions to fuel the digital transformation of industries as well as support the growth of the cloud economy.
In August 2022, Samsung Electronics Co. Ltd. was selected to provide a diverse selection of its 5G solutions to five government agencies and private institutions in Korea. This move is part of a government initiative to advance the country’s private 5G ecosystem. This expanded the company’s operational capabilities.
Influencing Trend:Increasing Adoption of AI and the emergence of Metaverse and 5G Technology Offers Opportunities to the App Developers
Market Growth Drivers:Increasing Accessibility of 5G Smartphones in Developing Countries
Challenges:Presence of Inter-Cell Interference and Technological Challenges Related to Standardisation and Application
Restraints:High initial investments for establishing manufacturing plants for 5G smartphones
Opportunities:The surge in Demand for Advanced Connected Healthcare Devices and Increasing Integration of 5G Smartphones for Seamless Accessibility
Key Target AudienceSmartphone Manufacturers, Smartphone Distributors, Technology Providers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others