5G Functionality Will Be in 56% of Smartphones Sold in 2023, Says Gartner

Mobile handsets with 5G functionality will capture 56 percent of the global smartphone market in 2023, from 10 percent in 2020, said Gartner Thursday. “As a result of the impact of 5G, the smartphone market is expected to return to growth” next year, rising 2.9 percent from 2019, it said. “After years of growth, the worldwide smartphone market has reached a tipping point.” The researcher projects smartphone sales will decline 3.2 percent in 2019, the worst single-year decrease since the category’s inception 13 years ago. Consumers hold "onto their phones longer,” said Gartner. The quality and technology features of premium smartphones “have reached a level today where users see high value in their device beyond a two-year time frame,” it said. “Unless the devices provide significant new utility, efficiency or experiences, users do not necessarily want to upgrade.”