The number of global 5G mobile subscribers is expected to grow faster than estimated to reach 1.9 billion within five years. The number of domestic 5G subscribers is expected to exceed 3 million this year.
The Ericsson Mobility Report released by Ericsson-LG on June 24 forecast that the number of 5G subscriptions will reach 1.9 billion globally by 2024. This is 27 percent higher than the November estimate of 1.5 billion. The Ericsson-LG predicted an additional 400 million mobile broadband subscriptions by the end of 2024, thanks to the initial 5G momentum.
By the end of this year, 5G subscribers are expected to exceed 10 million globally, with more than 3 million subscribers in Korea alone, which accounts for more than 30 percent of 5G subscribers worldwide.
The report estimated that the global 5G population service coverage will reach 45 percent by the end of 2024. With the introduction of spectrum sharing technology that allows usage of 5G in the Long Term Evolution (LTE) frequency band, the coverage can increase to 65 percent.
By the end of 2024, 5G is expected to account for 22.9 percent of the 8.3 billion mobile subscriptions.
By region, 5G introduction is expected to be fastest in North America, and the proportion of 5G in 2024 is expected to reach 63 percent. Northeast Asia (47 percent) and Europe (40 percent) are expected to follow.
"If the 5G subscriber increases to as many as the 4G subscribers in Korea, it will exceed 3 million at the end of this year," said Park Byung-sun, a senior network consultant at Ericsson-LG. "Korea is leading the early 5G market.”