The number of 5G subscriptions in Asia and North America is set to reach 1.1 billion by 2023 — by the technology’s fifth year of deployment, Elias Aravantinos, principal analyst at IHS Markit, said.
In contrast, 4G’s subscriber base in the two regions amounted to 417 million units in 2014 five years after that technology’s initial deployment.
During 4G’s first year of launch, there were only three smartphones available to consumers that supported the standard.
The report did not reveal the anticipated number of live 5G networks during this period. Most telecom operators in India are apprehensive about making spectrum related investment ahead of building 5G network in the next two years.
But the report said Asia Pacific is destined for 5G market domination thanks to the massive deployment of the technology in China and India. 5G will be present in most handsets in 2023.
China, according to media reports, will start the expansion of 5G network in 2020 only. In addition, the IHS Markit report is silent about the role of the Huawei controversy in the likely slowdown in 5G markets – especially China.
5G boasts at least 20 smartphone designs available for release to the market this year. This demonstrates the high degree of market readiness for 5G, and its capability to attain high volumes more quickly than 4G, said Elias Aravantinos, principal analyst at IHS Markit.
Most analysts are cagey about the price of 5G smartphones. The report did not reveal the contribution of the early availability of cost-effective 5G smartphones in the growth of 5G subscriber base.
North America initially will lead the world in terms of 5G installed base. Asia-Pacific region will rise rapidly and surpass it in 2021. By 2023, Asia Pacific will have a 5G installed base of 785 million, overtaking the 294 million total for North America.
Motorola Moto Z3 with the 5G Moto Mod, Samsung Galaxy S10 5G and the LG V50 5G are some of the 5G smartphones in Asia and North America. 5G models will include Xiaomi Mi Mix 3 5G, Oppo Reno 5G, OnePlus 7 Pro and Huawei Mate 20 X and Mate X in Europe.