Ericsson forecasted 5G subscriptions surpassing 1 billion by 2023

Ericsson in its semi-annual Mobility Report on Tuesday predicted that the 5G subscriptions, by the year 2023, will be reaching up to 1.5 billion by growing at the rate 50 percent and will be covering more than 40 percent of the global population.

With major service operators, that will be starting 5G services offerings in 2019, will be from U.S., while global deployment of the services is expected to be start in 2020, making the North America and northeast Asia leader in 5g up gradations.

In Europe, 2019 will be the year for first commercial 5G subscriptions, Ericsson’s semi-annual Mobility Report stated.

With lowering demands of network equipment for 4G and older 3G and 2G services across the world, the mobile telecom network equipment industry has been facing a hard time. But this transformation period of cellular services providers from older Gs to next generation of 5G will be lasting in couple of years and will be coming up with the definite requirement of network equipment for their next generation 5G networks.

An up from 5 billion at the end of this year, Ericsson has forecasted 7.4 billion total smartphones subscriptions will be the mark reach by 2023 at CAGR of 9 percent, in its Tuesday’s report.

The worldwide mobile subscriptions with CAGR of 2 percent will be touching 8.9 billion by the 2023, which was 7.8 billion at the end of 2017.

Ericsson in its report also forecasted worldwide monthly data traffic per active smartphone would be growing at CAGR of 31 % to 17GB by 2023, which for the year ended 2017 was 3.4 GB. Total monthly mobile data around the globe with a CAGR of 39 percent has been forecasted by Ericsson to 107EB by 2023, which was 15EB in 2017.

Better accommodation for variety of connected devices and higher data speeds are the expectations from the new generation of mobile phone technology.

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Maria Wiggins

Written by Maria Wiggins

Maria Wiggins:- News Stories
I am Maria Wiggins and I have over 11 years experience in the Technology industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

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