Subscriptions for the fifth generation (5G) technology have been forecast to exceed 580 million globally by the end of this year.

This is according to the latest Ericsson Mobility Report, which revealed that one million 5G subscriptions are being added daily.

However, Nigeria, which is considered one of the fastest-growing telecoms markets in the world, may not have a share in the number.

This is because the country is yet to issue any 5G license and will not do so this year if the 5G deployment timeline released by the Nigerian Communications Commission (NCC) is anything to go by. However, the country is moving ahead with the process leading to the deployment of the technology as the NCC recently inaugurated a spectrum auction committee.

The committee is to develop the Information Memorandum (IM) for the auction of the 3.5 gigahertz (GHz) spectrum band which will be used for early deployment of 5G technology in Nigeria.

This step followed the recent Senate investigative hearing which gave the Fifth Generation (5G) technology a clean bill of health.

According to Ericsson, the forecast enhances the expectation that 5G will become the fastest adopted mobile generation. “About 3.5 billion 5G subscriptions and 60 per cent 5G population coverage are forecast by the end of 2026,” it added in the report.

“However, the pace of adoption varies widely by region. Europe is off to a slower start and has continued to fall far behind China, the U.S., Korea, Japan, and the Gulf Cooperation Council (GCC) markets in the pace of 5G deployments,” Ericsson added.

5G is expected to surpass a billion subscriptions two years ahead of the 4G LTE timeline for the same milestone.

Ericsson said key factors behind that include China’s earlier commitment to 5G and the earlier availability and increasing affordability of commercial 5G devices.

“More than 300 5G smartphone models have already been announced or launched commercially. This commercial 5G momentum is expected to continue in coming years, spurred by the enhanced role of connectivity as a key component of post-COVID-19 economic recovery.

“North-East Asia is expected to account for the largest share of 5G subscriptions by 2026, with an estimated 1.4 billion 5G subscriptions. While North American and GCC markets are expected to account for the highest 5G subscription penetration, with 5G mobile subscriptions comprising 84 per cent and 73 per cent of all regional mobile subscriptions respectively,” Ericsson stated.

Commenting on the report, Executive Vice President and Head of Networks, Ericsson, Fredrik Jejdlingsayid: “This landmark twentieth edition of the Ericsson Mobility Report shows that we are in the next phase of 5G, with accelerating roll-outs and coverage expansion in pioneer markets such as China, the USA, and South Korea.

“Now is the time for advanced use cases to start materializing and deliver on the promise of 5G. Businesses and societies are also preparing for a post-pandemic world, with 5G-powered digitalization playing a critical role.”