Swedish mobile network equipment maker Ericsson reported today that 5G subscribers worldwide will grow 50 percent to 1.5 billion by 2024, covering more than 40 percent of the world's population.
Ericsson said in a mobile report released every six months that North America and Northeast Asia are expected to lead the rise of the 5G industry. Major US carriers will begin offering 5G services this year or 2019. Large-scale deployment of large-scale 5G networks worldwide is expected to begin in 2020. Ericsson expects that the first 5G commercial subscriptions in Europe will arrive in 2019.
The mobile telecommunications network equipment industry will experience a difficult time as demand for older 3G network equipment declines with 4G and 2G, while strong demand for the next generation of 5G networks is still a few years away.
Ericsson said global mobile subscribers would reach 8.9 billion by the end of 2024, up from 5 billion at the end of the year. Next-generation mobile phone technology is expected to bring faster data transmission speed and better adapt to a variety of networking devices.