Here's What 5G Means For Smartphone Market Growth
The launch of 5G smartphones and services is expected to contribute to the smartphone market growth. However, the longer replacement cycles and increased sales of used phones are hampering the smartphone market growth for the year 2020. However, the launch of the new 5G iPhone and the introduction of 5G connectivity in the latest devices is helping to grow the smartphone market.
The ever-increasing number of smartphone users and across 50% penetration of smartphones across the regions is prompting the need for 5G, especially in the countries of the US, China and others. The companies have been launching new variant phones with increased frequency and refresh rates. There might be some challenges for some reasons but the tech companies are making sure that the market revenue does not get affected. However, the 5G phones and foldable phones are providing new opportunities for manufactures and the suppliers are also supporting the production of smartphone makers.
For instance, at the IFA electronics show held in Berlin, it has been reported that Qualcomm and its partners are developing over 150 designs that use 5G processors in smartphones. The smartphones, in addition to 5G, is also considering other features such as strong hardware capabilities, facilitating software applications, internet, and multimedia functionality for the users. Smartphones are becoming an important part of the consumer lives and are also becoming important for retail sales. E-commerce platforms are attracting end-users with special discounts for creating an online buying culture. Various regions have to contribute to the online sales of smartphones, especially during holiday shopping.
The rapid transition of 4G networks and connections towards 5G is a major factor that is adding to the demand for 5G, owing to its better connectivity and faster downloading and streaming speeds. Though 5G has been launched in 2019, the impact of its services will fully reflect this year in 2020. To increase the growth rate of 5G smartphones, the operators are providing subsidies on high-cost 5G devices, to attract users, which will in turn help to push the supply of 5G devices.
Now, 5G is no longer the ‘novel’ thing, as 5G networks are starting to roll out across the world. A number of handsets with 5G connectivity popped up in 2019, and some were even launched at the start of 2020, with many companies claiming that they will launch 10 5G phones in 2020.
The fifth-generation wireless communication standards will now eventually replace the 4G LTE connection. With 5G, you will have tremendous download and upload speeds. It will also provide efficiency, latency, peak data rate, spectral efficiency, mobility, and increased connection density. That means users could theoretically hit a peak rate of 10Gbps- i.e., that the user will be able to download full-length movies in seconds.
A number of 5G phones will be released this year and this step will be revolutionary in bringing out concepts and experiences from theory into real life. 5G is not only expected to dominate the smartphone market but will also contribute to various other sectors.
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