106 million 5G Smartphones are Projected to Rollout this Year: CTA.
According to Consumer Technology Association, 5G smartphone worldwide shipment is expected to reach 106 million in 2021. Moreover, the overall industry revenue will hit $487 billion this year after a year of drop due to the global pandemic.
The sales figures of 5G smartphones are expected to reach $61 billion (an increase of 404%). The shipment is set to record an increase of 530% this year when compared to 2020. The increase in shipment and revenue is backed by big carriers of networks with huge phone discounts. Huge investment is already on 5G networks by companies and now they are eyeing to bring in customers on these networks.
Rick Kowalski, director of industry analysis and business intelligence, said, “Smartphones have a lot going for them this year, after 2020, which saw a decrease in smartphone shipments. This year, we have pent-up demand. People put off purchases last year because they just weren’t on the go as much. They were focused on home entertainment or home electronics. And this year people are getting out and about more. And it’s also prime time for 5G upgrades.”
As for gaming, CTA said that after witnessing a record-breaking last year, this year the gaming industry is expected to record a slight decrease in revenue. This means that this year gaming revenue will reach $48 billion; a 2% decrease when compared to 2020. As for gaming consoles, the category is set to enjoy continued growth this year and will reach $6 billion.
The VR and AR tech will resume growth this year after a year-long pause due to the pandemic. VR shipments are projected to reach 2.7 million units this year; an increase of 30%. As for VR and AR, total revenue is projected to cross the one billion dollars mark; an increase of 34%.
With the global vaccination drive in full swing and social restrictions easing up, several industries are projected to witness an increase in revenue as well as shipment.