Canalys has predicted that around 800 million units of 5G-enabled handsets will be shipped in 2023, which will account for 51.4% of all smartphone shipments.
The market research firm states that the CAGR between 2019 and 2023 will be 179.9%, whereas vendors will ship nearly 1.9 billion devices to market by the forecasted period. Its data shows that Greater China will be responsible for 34% of the shipments in 2023, followed by North America at 18.8% and Asia Pacific at 17.4%.
According to the research firm, government initiatives to expedite 5G development are a major and effective driver for faster deployments in markets like the US and China. In 2020, 17.5% of smartphones shipped in China will be 5G-capable, which will see a 62.7% upsurge in 2023.
Nicole Peng, vice president of mobility at Canalys, said: “5G smartphones will see rapid adoption in China, thanks to a strong government technology roadmap and operators’ financial capabilities. China is also home to many major 5G equipment suppliers and smartphone vendors, which will be responsible for an aggressive marketing push over the next few years.”
In June, Ericsson’s Mobility Report noted that 5G subscriptions are now expected to hit 1.9 billion by 2024, as operators will ramp up their deployments. According to the report, 5G technologies are set to reach 45% of the world’s population by the end of 2024. Looking at nearer-term predictions, the company noted that more than 10 million 5G subscriptions are projected worldwide by the end of 2019.
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