5G Will Reach 1.5 Billion Subscriptions by 2024: Report

5G networks are the next generation of mobile internet connectivity, offering faster speeds and more reliable connections on smartphones and other devices than ever before. 5G is expected to reach more than 40 percent global population coverage and 1.5 billion subscriptions for enhanced mobile broadband by the end of 2024. This will make 5G the fastest generation of cellular technology to be rolled out on a global scale.

According to the Ericsson Mobility Report 5G will reach 1.5 Billion Subscriptions by 2024

The latest mobility report from Ericsson, a telecommunications giant, has revealed that 5G will be available to 1.5 billion people by the end of 2024.

Key drivers for 5G deployment include increased network capacity, lower cost per gigabyte and new use case requirements.The report also projects that mobile data consumption will exceed 21 GB per month by 2024, almost four times the consumption in 2018.

The report reveals that the 5G subscriptions will directly impact the use of gadgets making up the IOT devices. Thus, with the advent of 5G networks, there will be a significant increase in the market for IoT devices. The market will grow exactly five times from 2018 to 2023, reaching 3.5 billion units, claims the report.

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