By Dominic Chopping
STOCKHOLM--Ericsson AB said Tuesday that 5G subscriptions could hit close to 660 million by the end of this year after stronger-than-expected demand in China and North America, driven in part by decreasing prices of 5G devices, according to Ericsson's annual mobility report.
There was also a net addition of 98 million 5G subscriptions globally in the third quarter of 2021, compared to 48 million new 4G subscriptions, and by the end of 2021 the report estimates that 5G networks will cover more than two billion people.
According to latest forecasts in the report, 5G is on track to become the dominant mobile access technology by 2027, based on global subscriptions, and is expected to account for around 50% of all mobile subscriptions world-wide--covering 75% of the world's population and carrying 62% of the global smartphone traffic.
Since 2011, the deployment of 4G networks has been pivotal in generating 5.5 billion new smartphone connections world-wide, contributing to the market availability of more than 20,000 different 4G device models, the report said.
The report also indicates a much earlier uptake of 5G technology, with 5G handsets today accounting for 23% of global volumes, compared with 8% of 4G handsets at the corresponding point in its lifecycle.
"New forecasts reaffirm the rapid acceleration of massive Internet of Things deployments in coming years, spanning use cases such as e-health wearables, logistical asset tracking, environmental monitoring and smart meters, and smart manufacturing tracking and monitoring devices," the report said.
"Massive IoT deployments are forecast to account for 51% of all cellular IoT connections by 2027."
Write to Dominic Chopping at email@example.com
(END) Dow Jones Newswires