Strategy Analytics in a newly published report from the Device Technologies (EDT) practice, forecasts that 5G devices, from a sluggish start in 2019 will take off in 2020. The report, Global Smartphone Sales Forecast by Technology for 88 Countries to 2024 shows that within 5 years 5G phones will equal nearly half of all phones sold.
South Korea is leading the 5G race at the moment but China intends to quickly become the global 5G leader. The ability of the industry to deliver lower-cost 5G smartphones will be critical to allow China to reach this goal next year. The first devices will be premium- and high-tier devices, but by the end of 2020, there will be more mid-range devices available, especially in China.
The company estimates that less than 1% of phones sold in 2019 will support 5G, but that share will grow to nearly 10% in 2020. Consumers do not want to spend top dollar on a device when there are few usable networks. Operators must widen 5G availability significantly in order for the technology to become attractive for consumers.
Currently, Samsung is leading in 5G smartphone industry. It has managed to take the lead in 5G predominantly due to strong sales in South Korea, as well as by expanding its share in 5G markets like the US. LG, Huawei, OPPO, vivo and Xiaomi are also among the first vendors to the market. But 2020 will be the turning point when 5G phone sales take off. All major smartphone vendors including Apple are developing 5G handsets and many more devices will launch in 2020.
From 2020 onwards, 5G smartphone sales will skyrocket, led by China, the US and other developed nations in Asia and Western Europe. Growth will be rapid once prices fall and 5G network buildouts expand next year. By 2025, 5G phone sales will exceed 1 billion.
Click here to download the Global Smartphone Sales Forecast by Technology for 88 Countries to 2024 report.
