The number of 5G connections is forecast to grow from roughly 10 million in 2019 to 1.01 billion in 2023, IDC reveals.
This represents a compound annual growth rate (CAGR) of 217.2% over the 2019-2023 forecast period. By 2023, 5G is expected to represent 8.9% of all mobile device connections.
The amount of data created and consumed by consumers and businesses will continue to grow over the coming years. Shifting data-intensive users and use cases to 5G will allow network operators to more efficiently manage network resources, improving performance and reliability as a result.