Counterpoint Estimates That 5G Mobile Connections across the World Will Increase to More Than 1.7 Billion by the Year 2023

5G mobile service was commercially launched back in April of 2019, and since then, the pioneer operators in developed telecom markets are progressively promoting the tech as well as the adoption of 5G. 93 commercial 5G networks are live as of mid-July, and they are mainly distributed in the Middle East, North America regions, Europe, and East Asia and Oceania.

European states showed clear ambition of getting ahead in the worldwide race to 5G commercialization under the guidance of the ‘5G Action Plan.’ It is expected that all member states of Europe will commercial 5G services by the end of this year.

In May, the accumulated connections in Korea and China surpassed 6.8 million and 30 million, respectively. And Counterpoint’s Market Outlook service claims that 5G connections across the globe will dramatically surpass 1.7 billion by the end of 2023, and China alone is projected to make up nearly 47% of the total 5G connections by the end of the year 2023, as current stats shows that 1 in 3 smartphones sold in Q2 of 2020 was a 5G device.

Until 2023, 5G penetration in Canada, China, and the United States will reach more than 50%. While 5G penetration in Europe will reach 26%. As India, the second-largest mobile market, is still transitioning to LTE, Reliance Jio is expected to launch commercial services next year.

Telecom equipment vendors including Huawei, Ericsson, Nokia, ZTE, and Samsung had been playing an important role in accelerating the progress of 5G. Ericsson and Huawei were awarded the most commercial contracts, while Samsung has already become a key 5G equipment partner for operators in America, and South Korea.

Despite the coronavirus pandemic impacted the construction of the 5G network in markets, its development momentum is unlikely to be interrupted. The virus has introduced significant impacts on the lives of people, and as people now spend more time indoors, data traffic on the network of operators has increased significantly. As lockdowns encourage industry players to exploit new opportunities such as virtual meetings, the coronavirus pandemic is likely to accelerate the 5G growth.

Read next: 5g Is Welcoming Us All To A New Wireless Era (Infographic)
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