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According to an Ericsson ConsumerLab report, as many as 300 million consumers worldwide could upgrade to 5G in 2021. Interestingly, the report said that this figure includes at least 40 million Indians.
Strong Signs for 5G in India
The Trials have just moved past the approval phase and are yet to start in India. The new network will bring low-latency, opening up new cases. What's more, it will open new revenue streams.
The report said that Indians are the most excited to upgrade to the new network. As many as two-third users are expressing an interest to take it up when it is available. This figure is also rising annually by 14%. What is also interesting is the fact that Indian consumers are willing to pay. Indians can pay as much as 50% more for plans with bundled digital services. However, just for premium network, Indians are willing to shell out only 10% extra.
Indians also have many expectations related. 70% of early adopters want higher speeds than the current 4G networks. Also, 60% expect new ways of pricing 5G data to make it lucrative, such as data sharing.
Ericsson also reported seeing new user behavior. The new network is leading to reduced WiFi usage among early adopters. What's more, these people are spending more time on services such as cloud gaming and AR apps. The report further stated that consumers will spend 7.5-8 hours/week on extended reality (XR) apps by 2025.
Interestingly, in India, the report mentioned fixed-wireless access as a potential opportunity for the new network. The report said that a third of urban users found 5G home broadband ‘extremely relevant’.
More Phones, Better Transition
The report mentioned that by the end of 2020, if Indians had been more aware of the new network, it could have resulted in 22% more smartphone users with 5G-ready handsets.
The report is based on the consumer sentiment and perception in 26 markets. These markets include US, China, South Korea, and the UK. It covered 1.3 billion smartphone users globally, including 220 million 5G subscribers.