Forty-five percent of the world’s population is expected to have 5G coverage by 2024, according to a recent Ericsson Mobility Report.
The report also found that 5G subscriptions are expected to reach 1.9 billion in 2024. A previous report predicted that it would only reach 1.5 billion by that year. Subscriptions would be linked to any device that would be connected to the 5G network.
Researchers also predict that 5G networks will carry 35 percent of the global mobile traffic in 2024.
The uptake of 5G subscriptions is forecasted to be fastest in North America, with 63 percent of expected mobile subscriptions in 2024, according to the report. North East Asia is in second place with an estimated 47 percent, while Europe is third with 40 percent.
“5G will have positive impact on people’s lives and businesses, realizing gains beyond the IoT and the Fourth Industrial Revolution,” said Fredrik Jejdling, executive vice-president and head of networks at Ericsson, in a press release.
The report was conducted using historical data from numerous sources, along with Ericsson’s internal data, and measurements in customer networks. The developments are estimated using macroeconomic trends, user trends, market maturity and technological advancements.
A review of Huawei and 5G in Canada is currently being conducted. Last month, Public Safety Minister Ralph Goodale said that the report on 5G, which will include whether or not Huawei will be banned, may be released before the federal election. Though other reports have suggested that it could come after the election.
Bell and Telus have invested millions of dollars to prepare for their future 5G technology rollout. If the federal government implements a ban, the companies could potentially lose as much as $1 billion.