(MENAFN- EIN Presswire)
5G smartphone Market
Growing demand for 5G technology in smartphones is anticipated to drive the growth of the global 5G smartphones market during the forecast period.
PORTLAND, OR, UNITED STATES, September 23, 2024 /EINPresswire / -- A steady increase in the demand for 5G
Technology in smartphones is predicted to be one of the important factors driving the growth of the 5G smartphone market in the forecast timeframe. However, the high cost of 5G smartphones may hamper the 5G smartphone market growth in the coming period. On the contrary, the growing adoption of 5G smartphones is expected to offer remunerative opportunities for expansion of the global 5G smartphone market size in the 2023-2032 forecast period.
The 5G smartphone market is rapidly growing as 5G networks are being deployed in countries. The demand for faster internet speeds and better connectivity has created a lot of excitement around 5G technology, and many consumers are eager to upgrade to 5G-compatible smartphones. According to the report, the global 5G smartphones market generated $18 billion in 2022, and is anticipated to generate $13633.3 billion by 2032, witnessing a CAGR of 94% from 2023 to 2032.
Download Sample Report (Get Full Insights in PDF - 320 Pages) at:
COVID-19 Scenario
1. The outbreak of the COVID-19 pandemic has harmed the growth of the global 5G smartphone market. The lockdowns across the world hampered the production and supply of 5G chipsets. This ultimately affected the production of 5G smartphones.
2. Moreover, the consumer spending pattern changed during the pandemic and people started prioritizing their expenses to buy essential goods and services instead of luxury goods. This reduced the demand for 5G smartphones which affected the market severely.
3. The 5G smartphone market is, however, projected to show rapid growth in the future due to the development of numerous technologies as well as the rising need for high-speed data access. Also, the increasing adoption of remote work, distance learning, and online activities is further projected to push the market higher.
Businesses operating in the e-commerce sector can leverage 5G capabilities to enhance their mobile platforms. With faster connections, companies can develop feature-rich applications that provide immersive and interactive shopping experiences. For example, augmented reality (AR) and virtual reality (VR) technologies can be integrated into mobile shopping apps, allowing customers to visualize products in real-world environments before making a purchase. These enhanced capabilities can improve customer engagement, increase conversion rates, and drive overall sales growth.
For Report Customization:
Moreover, 5G smartphones enable businesses to leverage real-time data processing and analysis capabilities. By harnessing the power of 5G networks, companies can gather and analyze customer data more efficiently, allowing them to offer highly personalized shopping experiences. Additionally, numerous businesses are integrating their current on-premises applications into cloud networks to enable seamless access to 5G smartphones via a global centralized network, which will increase product adoption.
The Asia-Pacific region accounted for a huge market share in the global 5G smartphones market in 2022 and is expected to maintain its dominance in terms of market share during the forecast period. The rising demand for smartphones with high-speed data transfer capabilities and a massive surge in advanced technology and infrastructure in countries of this region are the factors projected to help the Asia-Pacific market grow significantly by 2032.
The online channel sub-segment of accounted for the highest share in 2022 and is predicted to grow at a CAGR of 101.4% over the forecast period. In the last few years, customers across the globe have preferred e-commerce websites like Flipkart, Amazon, and the Apple Store to buy 5G smartphones. This increasing preference for online channels is expected to drive the sub-segments growth by 2032.
The report provides a detailed analysis of the key players in the global 5G smartphone market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Buy Now & Get Exclusive Report at:
Leading Players in the 5G Smart Phones Market:
Samsung Electronics Co. Ltd.
TCL Communication Limited
Nokia Corporation
Huawai Technologies Co. Ltd.
LG Electronics Inc.
Lenovo Group Limited
Motorola, Inc.
Xiaomi Corporation
BBK Electronics Ltd.
Apple Inc.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises and medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Wi
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300n Sivers Drive
#205, Portland, OR 97220
United States
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
...
Web:
Follow Us on: LinkedIn Twitter
David Correa
Allied Market Research
email us here
+1 800-792-5285
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN23092024003118003196ID1108702574
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.