5G Continues Strong Growth Despite Weaker Global Economy: Ericsson

5G mobile subscriptions are expected to reach 1.6 billion by the end of 2023 and exceed 5.3 billion in 2029, Ericsson said Thursday as it released its much-watched mobility report. In Q3, providers added 163 million 5G subscriptions worldwide. The North American region is expected to have the highest 5G penetration rate by year's end at 61%, more than double that in Europe. About 85% of the world’s population is expected to have access to 5G by the end of 2029, the report found. Ericsson also projected cellular IoT connections will reach 3 billion in 2023. In addition, data use is soaring. Mobile network data increased 33% in a year through Q3 and the average smartphone is expected to use 56 GB of data per month at the end of 2029, Ericsson said. “The ongoing surge in data traffic remains a strong driver of demand for mobile networks,” the report said: “Most traffic is generated indoors, where people typically spend the majority of their time. There is, however, a growing need to extend 5G mid-band coverage indoors to ensure a comprehensive 5G experience.” Carriers continue to deploy 5G “despite a weaker global economy and geopolitical uncertainties,” Ericsson found. Globally, about 280 providers have launched commercial 5G services, with more than 40 deploying a 5G stand-alone network. 5G stand-alone “is becoming well established,” which “enables new capabilities such as 5G native voice … and new services like network slicing and user equipment route selection policy,” the report said.