The mobile industry is set to make huge strides over the next few years, according to a new report released by Juniper Research. The research indicates that mobile operators are forecast to generate $625 billion from 5G services globally by 2027, up from $310 billion in 2023. This substantial growth is driven mainly by the increasing implementation of eSIMs (embedded SIM cards) into various devices, as well as the roll out of advanced 5G networks. According to the report, 80% of global operator-billed service revenue is predicted to be attributable to 5G services by 2027 and cellular data traffic will grow by over 180% between 2023 and 2027 due to this increased usage. This has significant implications for businesses around the world who rely on reliable mobile networks and faster speeds for their operations such as customer engagement and communications. The emergence of 6G networks is also in sight with next-generation standards already being developed. 6G networks must adopt innovative technologies such as Non‑terrestrial Networks (NTNs) and sub-1 THz frequency bands for increased data capabilities over existing 5G networks.
This new technology could revolutionize the way we interact with our digital environment, providing a more efficient and connected world than ever before. Furthermore, the report suggests that the embedded SIM market is expected jump from about $4.7 billion this year to $16.3 billion by 2024 with 3.5 Billion smartphones using eSIM projected in the same period; however growth in China depends on country specific standards being implemented that meet government requirements for device monitoring & tracking. This would have a big impact on the adoption of eSIM technology as China is one of the largest markets for wireless technology today. With so many advancements in mobile network technologies offering faster speeds, lower latency, better coverage, more reliable connections and improved quality of service; it stands to reason that mobile operators are set to generate incredible amounts of value through these services over the coming years – valuations which should benefit individuals and businesses alike across many industries worldwide!
The report also highlights the importance of investing in 5G infrastructure and services, both for operators and other players such as device manufacturers and app developers. Juniper Research urges industry leaders to focus on “setting the right foundation” for 5G networks by investing in adequate coverage, capacity, performance and security capabilities. This is to ensure that the technology can be scaled appropriately to meet all user needs in an increasingly data-driven world. Juniper Research also states that operators should focus on “Realizing additional revenue opportunities” such as the use of virtualized innovations and new services, so they can maximize their ROI.