Global 5G smartphones are estimated to account for 25% of the total smartphone shipments by 2023, reaching 434.7 million units, up from 4.6 million units in 2019, according to Taipei-based government-backed research institute MIC (Market Intelligence & Consulting Institute).

Source: MIC, May 2019

"There are three major factors that are expected to lead to a significant increase in 5G smartphones in 2020. First is the availability of 5G SoC solutions which cover a wide range of product lines from flagship to mid-range and high-end products. Second is the 5G commercialization in China and Japan. And third is the Apple-Qualcomm settlement which means the chance of Apple launching its 5G iPhones is high,” said Eddie Han, senior industry analyst at MIC. “The increasing demand for 5G will unleash the vertical application demand for enterprise networks thus contribute to a boost in global mobile network market from the current US$14.8 billion to US$37.2 billion in 2025, with a 18.5% CAGR for the period 2018-2025. And demand from European brands will be the major growth factor,” said Chien-hsun Lee, Research Director at MIC.

To see more MIC reports, please visit: MWC 2019 Observations: Global Smartphone Industry Development and Trend Analysis, Worldwide Major Mobile Phone Vendor Performance, 1Q 2019, Worldwide Smartphone Market Forecast, 2019~2023 (1Q 2019 Update)

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About MIC

Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry.