'Enormous' growth prospects for 5G in enterprises

A study by recently launched research firm Omdia has revealed the huge shift for communications service providers (CSPs) and the wider tech ecosystem that will be created by the wider adoption of 5G products and services. The analyst says that the report, 5G and beyond: Connecting the dots at MWC20, aims to "connect the dots" between the strategies, technologies, companies and market trends that are impacting industries as they transition to 5G, providing an overview of the interrelated opportunities and challenges. As well as predicting that 5G will take the consumer market by storm, with 5G-enabled smartphone shipments expected to grow eight-fold by 2021, Omdia believes the growth prospects for 5G in enterprises are "enormous", with global 5G enterprise mobile subscriptions set to rise from 500,000 in 2019 to 175 million by 2024. It predicts that the global 5G smartphone market will surge to 231 million units shipped by the end of 2020, up from 29 million in 2019, and will double again in 2021. Omdia says this growth will be driven by declining device costs, which will be in the $700-$800 range in the next two years, making them more affordable.