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Communications service providers worldwide continue to invest in 5G, according to the Ericsson Mobility Report June 2023 from Ericsson (NASDAQ: ERIC).
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| The penetration of 5G subscribers is increasing |
After the launch of 5G services in October 2022, the Indian 5G market is witnessing massive network deployments under the government’s Digital India initiative. 5G subscriptions in India are expected to reach around 10 million by the end of 2022 and account for around 57% of the country’s mobile subscriptions by the end of 2028, making India the fastest growing 5G region globally.
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5G continues to drive innovation in mobile service bundles. Among CSPs, it is increasingly common to offer bundles with various popular entertainment services such as television, music streaming, or cloud gaming platforms. About 58% of 5G service providers are currently doing this in some form.
Ericsson’s latest Mobility Report also revealed that 5G subscription penetration in North America has been stronger than previously forecast. By the end of 2022, the region will have the highest global 5G subscription penetration rate at 41%.
5G subscriptions are growing in every region worldwide and are forecast to reach 1.5 billion by the end of 2023. Global mobile network data traffic continues to grow with global average monthly usage per smartphone expected to exceed 20 GB by the end of 2023.
“Global 5G adoption has surpassed the 1 billion subscription mark, delivering positive revenue growth for communications service providers in leading 5G markets,” said Fredrik Jejdling, Executive Vice President and Head of Networks at Ericsson. “We see a strong correlation between the growth of 5G subscriptions and service revenues. Over the past two years, 5G service launches in the top 20 markets have resulted in a 7% revenue increase. This trend demonstrates the increasing value of 5G, which benefits both users and service providers.”
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