Canalys forecasts that roughly 800 million 5G-capable handsets will be shipped in 2023, representing about 51.4% of global smartphone shipments that year.
The market research firm reports a compound annual growth rate (CAGR) of 179.9% for 5G handset shipments between 2019 and 2023, with nearly 1.9 billion devices expected to reach the market over the forecast period. Regional breakdowns indicate Greater China will account for 34% of shipments in 2023, followed by North America at 18.8% and the Asia Pacific region at 17.4%.
Canalys highlights that government programs designed to accelerate 5G rollout are a key factor driving rapid deployments in markets such as the United States and China. In China specifically, 5G-capable phones made up 17.5% of smartphone shipments in 2020, and Canalys expects that share to rise sharply to 62.7% by 2023.
Nicole Peng, vice president of mobility at Canalys, commented: “5G smartphones will see fast adoption in China, thanks to a robust government technology roadmap and strong financial backing from operators. China is also home to many major 5G equipment manufacturers and smartphone vendors, which will drive an aggressive marketing push in the coming years.”
In June, Ericsson’s Mobility Report noted that operators are accelerating 5G deployments and that 5G subscriptions are projected to reach 1.9 billion by 2024. The report estimates 5G technologies will be available to roughly 45% of the world’s population by the end of 2024, and it anticipated more than 10 million 5G subscriptions worldwide by the end of 2019.
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