A new report from market researcher Omdia predicts that shipments of 5G smartphones will increase eightfold in 2020.
The report also explains that 5G technology will be a major driver in transforming the broader technology, media, and telecommunications (TMT) industry.
Omdia, formed by combining the research capabilities of Ovum, Heavy Reading, Tractica and IHS Markit’s technology research unit, released this paper ahead of the Mobile World Congress (MWC20) in Barcelona. It highlights a significant strategic shift for communications service providers (CSPs) and other participants in the TMT ecosystem as 5G adoption expands.
Globally, the 5G smartphone market is forecast to double in 2021, rising from 29 million devices in 2019. This surge is expected to be driven largely by falling device prices, with many 5G phones projected to reach a $700–$800 price band within two years, making them more accessible to mainstream buyers. The global 5G radio access network (RAN) market is expected to grow to $21 billion by 2024. Additionally, brands are anticipated to leverage 5G to address consumer privacy concerns related to AI, contributing to revenue growth for edge devices and networks used in AI deployments—forecast to reach $827 billion by 2025.
Separately, a study last month by Juniper Research found that mobile network operator voice revenue is likely to decline to $208 billion by 2024 as operators increasingly face competition from flexible, often free, over-the-top (OTT) voice services. Juniper forecasts that third‑party OTT voice services will continue their expansion, approaching 4.5 billion users by 2024.
Another January study, from Berg Insight, expects smart city initiatives to gain renewed momentum in 2020 as more municipal leaders embrace technologies such as the Internet of Things (IoT) and machine-to-machine (M2M) communications. The report highlights street lighting as a notable area of adoption, estimating the installed base of smart streetlights will reach 31.2 million by 2023.
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