Ericsson Mobility Report Shows Faster 5G Adoption than Anticipated
The latest installment of the Ericsson Mobility Report found that the expected growth and adoption rates of the much-anticipated global 5G network will happen even faster than previously thought. According to the latest data presented by the mobile communications firm show that by 2024, the number of 5G subscriptions is expected to reach 1.9 billion, up from the 1.5 billion that was forecasted in the November 2018 edition of the report—and almost 27 percent increase.
Additionally, the Ericsson Mobility Report showed that operators are ramping up their deployment efforts around 5G. As such, the report suggests that 5G coverage should reach roughly 45 percent of the world’s population by the end of 2024. And with that level of expansion taking place, the percent of global mobile traffic that’s handled by 5G networks is projected to reach 35 percent by that same point in time.
“5G is definitely taking off and at a rapid pace. This reflects the service providers’ and consumers’ enthusiasm for the technology,” Fredrik Jejdling, Executive Vice President and Head of Networks at Ericsson, said in a statement. “5G will have positive impact on people’s lives and businesses, realizing gains beyond the IoT and the Fourth Industrial Revolution. However, the full benefits of 5G can only be reaped with the establishment of a solid ecosystem in which technology, regulatory, security, and industry partners all have a part to play.”