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Ericsson: 5G to Account for 55% of North American Mobile Subscriptions by 2024

Perhaps hoping to speak a robust global market for 5G technology into existence, Ericsson released a report this week predicting that 55% of all North American mobile subscriptions by 2024 will be for 5G network services.

A copy of Ericsson’s report can be found here.

That, of course, is a bold prediction, given that 5G services were only recently introduced in the U.S. and currently command a nil market share.

Ericsson also forecasts that 5G will be available to 40% of the global population by 2024, and that the technology will have 1.5 billion subscribers worldwide at that time.

Related: Cisco Study: 4K Video to Drive 153% Jump in Internet Traffic by 2022

Like Cisco, Ericsson is predicting that consumption of video—enhanced by the increased data requirements of 4K resolution—will drive global demand for 5G services.

Ericsson said that by 2024, video will account for 74% of mobile data traffic worldwide.

Both Ericsson and Cisco arrived at their conclusions based on sales of their own technology products.