Despite ongoing economic uncertainties and geopolitical tensions in some markets, Ericsson has projected a surge in 5G subscriptions, estimating that nearly one-fifth of global mobile subscriptions will be 5G-based by the close of 2023.
This growth is highlighted in the November 2023 edition of the Ericsson Mobility Report, revealing a resilient 63% increase in 5G subscriptions for the calendar year 2023 compared to 2022. The report now anticipates a total of 1.6 billion 5G subscriptions globally by end-2023, surpassing previous predictions by approximately 100 million.
In its 25th edition, the Ericsson Mobility Report extended its statistical forecasts to 2029, adjusting the upper timeline from 2028. The report underscored the continued prominence of enhanced mobile broadband, fixed wireless access, gaming, and augmented reality (AR)/virtual reality (VR)-based services as the primary early consumer applications for 5G.
The North American region stands out for its adoption of 5G subscriptions, with an expected 61% penetration by the end of 2023. India has also witnessed substantial 5G growth, projecting an 11% penetration rate by the end of 2023, just 14 months after its commercial launch.
Looking ahead, Ericsson forecasted a 330% increase in global 5G subscriptions between 2023 and 2029, reaching 5.3 billion. By the end of this year, 5G coverage is predicted to be accessible to over 45% of the global population, escalating to 85% by the close of 2029. Notably, North America and the Gulf Cooperation Council are expected to lead with a 92% regional penetration rate by 2029, followed by Western Europe at 85%.
Fredrik Jejdling, Executive Vice-President & Head of Networks at Ericsson, emphasised the growing demand for high-performance connectivity, stating, “With more than 600 million 5G subscriptions added globally this year, and rising in every region, it is evident that the demand for high-performance connectivity is strong.
“The rollout of 5G continues and we see an increasing number of 5G standalone networks being deployed, bringing opportunities to support new and more demanding applications for both consumers and enterprises.”