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Ericsson (NASDAQ: ERIC) estimates that nearly one-fifth of all global mobile subscriptions will be 5G by the end of 2023, driven by steady growth despite persistent economic headwinds and geopolitical uncertainty in some markets.
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| Mobile data traffic continues to surge in Southeast Asia |
The statistics, outlined in the November 2023 edition of the Ericsson Mobility Report, estimate that there will be 610 million new 5G subscriptions for the calendar year 2023 – up 63% from 2022 – bringing the global total to 1.6 billion, around 100 million more than in the previous forecast.
By region, 5G subscriptions continue to grow strongly in North America. By the end of 2023, the region is expected to have the highest 5G subscription penetration globally at 61%. 5G subscription growth is also strong in India throughout 2023. By the end of 2023 – 14 months after commercial launch – 5G penetration is expected to reach 11% in India.
The report shows that in the six years from end-2023 to 2029, the number of global 5G subscriptions is forecast to increase by more than 330% – from 1.6 billion to 5.3 billion. 5G coverage is forecast to cover more than 45% of the global population by end-2023 and 85% by end-2029. North America and the Gulf Cooperation Council are expected to have the highest 5G penetration rate by end-2029 at 92%. This is followed by Western Europe with a forecast penetration rate of 85%.
“With more than 600 million 5G subscriptions added globally this year and continuing to grow in every region, it is clear that there is a huge demand for high-performance connectivity,” said Fredrik Jejdling, Executive Vice President and Head of Networks at Ericsson. “The 5G rollout is ongoing and we are seeing more and more 5G networks being deployed, providing the opportunity to support new applications with higher bandwidth requirements for both consumers and enterprises.”
The number of 5G subscribers will reach around 550 million in Southeast Asia and Oceania by the end of 2029. In addition to creating a pioneering 5G infrastructure in the region, the focus of service providers is on diversifying the services offered to both consumers and businesses.
Mobile data traffic on phones continues to grow strongly in Southeast Asia and Oceania, expected to increase from 24GB per month in 2023 to around 66GB per month in 2029, a CAGR of 19%.
“At Ericsson, we have leveraged our technology leadership to deliver world-class user experiences in a 4G base station in Vietnam that can be easily upgraded to 5G when needed,” said Rita Mokbel, Country Head of Ericsson Vietnam. “5G will be a key infrastructure platform to accelerate Vietnam’s digital transformation. In the initial phase, 5G will enable service providers in Vietnam to deliver enhanced mobile broadband experiences to consumers and increase the capacity of their networks to handle increasing data traffic. Over time, we expect to see new innovative 5G use cases in the areas of 5G for enterprises.”
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