5G service revenue will reach $315 billion in 2023 from $195 billion in 2022, representing 35 percent of operators’ total revenue, according to a report from Juniper Research.
Mobile network operators will add over 600 million 5G subscriptions next year, despite the economic downturn in 2023.
The growth of 5G networks will continue. Over 80 percent of operator‑billed revenue will be attributable to 5G connections by 2027.
“Despite the growth of the Internet of Things, revenue from consumer connections will continue to be the cornerstone of 5G operator revenue increase. Over 95 percent of global 5G connections in 2027 will be connected personal devices such as smartphones, tablets and mobile broadband routers,” Research co-author Olivia Williams said.
The ability of standalone 5G networks to offer network slicing will act as the ideal platform for the growth of 5G private network revenue.
The latest Gartner report on IT spending revealed that Communications Services will grow 2.4 percent in 2023 to $1,469.22 billion after dropping 1.7 percent in 2022 to $1,435.40 billion.
The number of 5G networks has reached 233, according to 5G Americas. The number of 5G networks is expected to reach 313 in 2022 and 352 in 2024. 5G connections are forecast to reach 2 billion in 2023 and 5.9 billion in 2027.