Market research company IHS Markit says the early availability of a large number of compatible devices is a major contributing factor to what it calls the “blistering pace” of 5G.
“During 4G’s first year of launch, there were only three smartphones available to consumers that supported the standard,” said Elias Aravantinos, principal analyst at IHS Markit.
“On the other hand, 5G boasts at least 20 smartphone designs available for release to the market this year. This demonstrates the high degree of market readiness for 5G, and its capability to attain high volumes more quickly than 4G.”
While North America will initially lead the world in terms of 5G installed base, the Asia-Pacific region will rise rapidly and surpass it in 2021. By 2023, Asia-Pacific will have a 5G installed base of 785 million, dwarfing the 294 million total for North America, says the company in its new report.
IHS Markit has launched its 5G First Look, a new service that provides insight into the world of 5G and how 5G networks perform. It includes 5G readiness benchmarks, 5G smartphone teardown analysis, and first-look results from comprehensive, scientific 5G network performance testing in South Korea, the US, Switzerland and the UK.
“Asia-Pacific is destined for 5G market domination thanks to the massive deployment of the technology in China and India,” Aravantinos said. “Led by deployment in these countries, 5G will reach its so-called ‘golden year’ in 2023, when 5G will be present in most handsets.”
IHS Markit listed brands such as Huawei, LG, Motorola, OnePlus, Samsung (pictured) and Xiaomi as having already announced 5G smartphones.
