1.5 billion 5G Subscribers by 2024 According to Ericsson Research

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In case you missed it, Ericsson released their mobility report this morning and it’s something anyone working in the IoT, mobile device and components industry should read.

What does it say, simply that Ericsson believes 5G adoption will grow faster than expected and will hit the mass market in 2020. If you go with their timeline, then by 2024 there will be 1.5 billion 5G subscribers that will account for nearly 20 percent of total mobile subscribers. That’s an amazing accomplishment given how long it took consumers globally to reach those numbers with 3G, 4G and LTE.

The report is full of insights on 5G and the mobile landscape. Some of the most interesting data points include the fact that there are more mobile devices than people in some parts of the world:

  • Mobile subscribers grew 3.3 percent year-over-year to 7.9 billion
  • LTE subscribers increased by 200 million to 3.3 billion
  • S. mobile subscription penetration is 104 percent and APAC is 117 percent
  • Africa has the lowest mobile subscription penetration globally at 82 percent
  • The number of cellular IoT connections expected to reach 4.1 billion in 2024