5G smartphone shipments are expected to grow eight times by 2021. Phone makers will ship 231 million units of 5G smartphones this year against 29 million in 2019, and will double again in 2021.
The price of 5G smartphone will drop to $700-$800 in the next two years, making them more affordable, research firm Omdia predicts.
The 5G radio access market (RAN) will more than quintuple, rising to $21 billion in 2024 against less than $4 billion in 2019.
Brands will use 5G to alleviate privacy fears around AI, driving the revenue growth to $827 billion in 2025 for edge devices and networks deployed for AI.
By 2025, two of three smartphones will include built-in AI capabilities, and revenue for AI smartphones will increase to $378 billion from $29 billion in 2017. Smartphone and smart speaker manufacturers will bring 5G products which perform visual AI processing tasks on edge servers and appliances, bypassing the privacy risks involved in sending data to the cloud.
5G will drive the growth of game streaming and esports, with the media bundled-service revenue market expected to grow to $2.6 billion by 2024.
The 5G enterprise mobile subscriptions are set to rise to 175 million by 2024 from 500,000 in 2019.
Approximately 40 percent of the announced deployments of enterprise 5G networks since 2016 are for manufacturing, followed by 18 percent of deployments in transportation and logistics.