Blog Details

Expanding OTT Platform Subscriptions Support the Global 5G Smartphone Market

Date: 16th Mar 2021 | Category: Computer & Electronics

The global 5G smartphone market is predicted to reach US$823.93 billion in 2025, progressing at a CAGR of 124.89%, over the period 2021-2025. The factors such as growing population, increasing usage of mobile devices, surging integration of AR technology, expanding over-the-top (OTT) platform subscriptions, mounting penetration of internet users and upsurge in number of eSports audience would drive the growth of the market. However, the market growth would be challenged by security and privacy issues, massive power consumption, high operational and infrastructural cost. 

A few notable trends include accelerating adoption of 5G smartphones, rising trend of connected IoT devices, escalating penetration of mobile e-commerce and rising integration with artificial intelligence. 

The global 5G smartphone market has been segmented on the basis of sales channel, named as offline and online. The offline segment is the fastest growing market, owing to growing availability of a huge number and variety of outlets including retailer outlets, hypermarkets, mobile stores, and brand stores, expanding urbanization, growing usage of mobile devices and accelerating economic growth. In addition, the growing number of COVID-19 cases across the region in 2020, escalated the adoption of 5G smartphones as a result of rising work from home trend and increasing shift to online education to maintain social distancing during the pandemic.

Scope of the report:

• The report provides a comprehensive analysis of the global 5G smartphone market segmented on the basis of sales channel.

• The major regional and country markets (Asia Pacific, North America, Europe and LAMEA) have been analyzed. 

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (Apple Inc., Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Xiaomi Corporation, LG Corporation and BBK Electronics Corporation (Oppo)) are also presented in detail. 

Key Target Audience:

• 5G Smartphone Manufacturers

• 5G Smartphone Dealers & Network Providers

• End Customers 

• Business Entities

• Government Bodies & Regulating Authorities