The number of people using a smartphone is expected to cross the four billion mark by 2023, according to a Newzoo report.
The number of mobile users in 2020 is believed to be on track to hit 3.5 billion, which is around 45 per cent of the world's total population.
Given the size of China's mobile market, the country will account for one-quarter of overall smartphone users.
However, users that play mobile games will hit 2.5 billion by the end of 2020.
Meanwhile, mobile games revenue is expected to cross the $100 billion milestone come 2023.
By the end of this year, with a growth rate of 13 per cent year-on-year, earnings will hit $77 billion. More than half of the revenue will be generated via iOS.
Many companies had been gearing up to launch 5G networks. However, the coronavirus has added a complication, delaying the rollout to various markets.
However, despite the delay, 5G is still on the way with just under 200 million smartphones expected to support the network by the end of 2020.
Earlier this month, Newzoo released a report that detailed the future of cloud gaming, namely that the market will generate $585 million this year.