A recent report unveiled projections indicating a substantial surge in 5G subscriptions within India. Anticipated to hit a landmark figure of 130 million by the end of 2023, these subscriptions are predicted to witness an exponential climb, reaching an impressive 860 million by 2029, as outlined in the report unveiled on Thursday.
Ericsson, the firm behind the report, anticipates 5G subscriptions to dominate the Indian mobile subscription landscape, accounting for a significant 68 percent share by the conclusion of 2029. Nitin Bansal, the Head of Ericsson India, underscored their instrumental role in India's 5G journey, attributing it to their global deployment experience and technological leadership. Bansal emphasized the pivotal role of mobile networks in propelling social and economic inclusivity in India, aligning with the government's ambition to foster a digitally empowered society.
Although 4G subscriptions presently drive connectivity and fuel data growth in the country, the report foresees a decline from 870 million in 2023 to 390 million by 2029 as subscribers transition to the more advanced 5G technology.
The report further estimates that total mobile subscriptions within the region will burgeon to 1.27 billion by 2029. It highlights India's distinction in global smartphone data usage, projecting an increase from 31GB per month in 2023 to approximately 75GB per month in 2029, marking a Compound Annual Growth Rate (CAGR) of 16 percent. Concurrently, the total mobile data traffic is envisaged to surge from 26 exabytes (EB) per month in 2023 to 73EB per month in 2029, growing at a CAGR of 19 percent.
The penetration of smartphone subscriptions in India, relative to the overall mobile subscriptions, is expected to amplify from 82 percent in 2023 to 93 percent in 2029. On a global scale, the report anticipates a substantial addition of 610 million new 5G subscriptions for the calendar year 2023—a remarkable 63 percent leap from 2022—pushing the global tally to 1.6 billion, surpassing previous predictions by about 100 million.
Moreover, spanning the period between the conclusion of 2023 and 2029, global 5G subscriptions are envisaged to soar by over 330 percent—from 1.6 billion to 5.3 billion. The report outlines that 5G coverage is slated to reach over 45 percent of the global population by the end of 2023, escalating to an estimated 85 percent by the culmination of 2029.
Fredrik Jejdling, Executive Vice President and Head of Networks at Ericsson, emphasized the evident and burgeoning demand for high-performance connectivity, noting the addition of more than 600 million 5G subscriptions worldwide this year, exhibiting an upward trajectory across all regions.
(With Agency Inputs)
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