5G-enabled smart devices will reach 800 million units in 2023, occupying 51% of all smartphone shipments, according to a Canalys report released on Monday. This means 5G smartphones will outnumber 4G smartphones in the next four years.
The rise of 5G, the fifth generation of mobile smartphone networks, will aid the widespread impact of Internet of Things (IoT) adoption. This next generation of mobile handsets are expected to have a better battery life, quicker processing power, and lower latency, according to a GlobalData report, driving global 5G adoption.
The CAGR for 5G smartphones between now and 2023 will hit approximately 180%, with vendors predicted to ship nearly 1.9 million 5G smartphones to the market by the end of 2023, the Canalys report found.
China is predicted to account for the most 5G smartphone shipments at 34%, with North America following at 19%, and Asia Pacific with 17%, the report added.
“Mass-market adoption of 5G smartphones does not necessarily mean a successful 5G deployment. Full 5G deployment will take much longer, and be much more complex than the previous network generation, in order to realize the benefits of 5G beyond eMBB (enhanced Mobile Broadband),” Nicole Peng, vice president of mobility at Canalys, said in a press release. “And this is very costly, putting more pressure on global operators, which are already facing declining revenue and more price competition from MVNOs.”