Juniper Research expects 5G revenue to grow over 60% in a single year
5G Service Revenue to Reach $315 Billion Globally in 2023. Source: pexels.com
A new study from Juniper Research has estimated that operator?billed 5G service revenue will rise by 60% from $195 billion in 2022 to $315 billion in 2023.?
The research predicts the accelerating migration of cellular subscriptions to 5G networks will drive this increase. It notes that operator strategies now minimise or remove any premium over existing 4G subscription offerings.?
Moreover, the study forecasts over 600 million new 5G subscriptions next year, despite the possible recession and overall economic decline in 2023.
As the growth of 5G networks continues, over 80% of global operator?billed revenue will be attributable to 5G connections by 2027. The report takes into account the economic downturn but believes 5G will be resilient due to the vital importance of mobile Internet connectivity today.
Last but not least, the report predicts the ability of 5G networks to offer ‘network slicing’ will be a perfect platform for the growth of 5G private network revenue. Since standalone 5G uses next?generation core networks supporting network slicing technology, a ‘slice’ of public 5G infrastructure may be provided to private network users. This would help mitigate the cost of private 5G network hardware and increase its overall value proposition.
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
