Ericsson, a network equipment company, estimated in its Ericsson Mobility Report in November 2023 that one in five mobile subscriptions in the world will be under 5G as 2023 ends.
The report estimates that there will be 610 million new 5G subscriptions when 2023 wraps, which is a 63% increase from 2022. This translates to a global total of 1.6 billion, which is around 100 million more than earlier predictions.
It also pointed out the early use cases for 5G, which is for better mobile internet connection, fixed wireless access, gaming, and AR/VR-based services.
The report states that 5G subscription growth in North America and India continue to be strong in 2023.
Ericsson forecasts that there will be a 330% increase in the next six years. That’s from 1.6 billion in 2023 to 5.3 billion in 2029.
By 2029, the firm expects that the 5G coverage will be available to 85% of the population across the world. Coverage is currently at 45% in 2023.
The need for faster internet services will increase in the coming years due to factors like improved device capabilities and an increase in data-intensive content. Ericsson forecasts a threefold increase in mobile data traffic between 2023 and 2029.
Source: Ericsson