5G

5G Service Revenue to Reach $315 Billion Globally in 2023: Juniper Research

Juniper Research expects 5G revenue to grow over 60% in a single year

5G revenue

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.

“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% of global 5G connections in 2027 will be connected personal devices such as smartphones, tablets and mobile broadband routers.”
Research co-author Olivia Williams

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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Street lamps and bus shelters to help boost 5G in UK

Nina Bobro

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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.