The worldwide 5G service revenue is predicted to be $315 billion by 2023 increasing from $195 billion in the current year, according to a new study. found.
The world’s 5G service revenue is predicted to be 315 billion in 2023, a rise by the $195 billion this year, a report revealed.
This is an increase of more than 60 percent in just one year of operators who bill 5G service revenues as per Juniper Research.
“Despite the exponential growth in the Internet of Things, revenue from consumer connections will be the mainstay for 5G operators’ revenue growth,” said research co-author Olivia Williams.
More than 95 percent of all global 5G connections by 2027 will be personal devices, such as tablets, smartphones as well as portable broadband routers.” Williams added.
The rise in revenue will be fueled by the speedy transition of mobile subscriptions to 5G networks. This is due to strategies employed by operators that reduce or eliminate any cost over current 4G subscriptions. The forecast predicts that more than 600 million additional 5G subscribers will be launched in the coming year, despite an expected economic slowdown to 2023. Mobile World Live reported .
The report forecasts that the growth in the use of 5G networks will continue and more than 80 percent of the global revenue billed by operators is due in part to 5G connections by 2027.
