The global market for 5G phones is projected to grow to 570 million units in 2021, from 255 million units shipped in 2020, according to the International Data Corporation (IDC). The top markets for 5G phones in the world are China with a 47.1% market share, followed by the US at 16%, India at 6.1%, and Japan at 4.1%.
Demand for 5G phones has been steadily rising and according to IDC, 5G sales are expected to make up more than half of all smartphone shipments globally by the end of 2022. The average selling price of a 5G smartphone is projected to increase to $634 (KSh 69,772 ) this year, from $632 (KSh 69,552) last year.
As economies continue to recover from the effects of the pandemic, the market for smartphones continues to grow. Shipments of smartphones around the world are projected to reach 1.37 billion units in 2021, mainly driven by the sale of iOS devices and Android phones.
The world’s largest markets for smartphones are China, the US and Western Europe. Demand for the gadgets is also rapidly growing in places like India, Japan, the Middle East, and Africa. According to IDC, the average selling price of 4G phones is expected to drop to $206 (KSh22,660) this year compared to $277 (KSh30,470) in 2020.
“Despite the ongoing issues surrounding the pandemic and the Delta variant, consumers are continuing to upgrade to more premium smartphones this year,” said Anthony Scarsella, a research director at IDC.