The wireless telecom industry experienced continued strong wireless cellular expansion in the second quarter of 2024, powered by continuing growth in the IoT ecosystem, according to industry body 5G Americas. According to data from 5G Americas and analysts Omdia, in Q2 2024, the global adoption of 5G connections exceeded two billion with an addition of 192 million new global connections. Looking ahead, Omdia data suggests global 5G connections will reach 8.6 billion by 2029. As a share of all wireless cellular technologies, 5G is expected to be 59 percent of global access networks by 2029.
In the last quarter, 5G connections in North America totalled 242 million, comprising 34 percent of all wireless cellular connections. The addition of 23 million new 5G connections represents 11 percent growth quarter over quarter. By 2029, North American 5G connections are forecast to grow to 761 million, representing 84 percent of all wireless cellular access technologies.
From a network deployment standpoint, the global number of deployed 5G networks has now exceeded the pace of 4G LTE network deployments at the equivalent time in the technology cycle. Currently, there are 329 commercial 5G networks worldwide, a number that is expected to grow alongside continued significant investments in 5G infrastructure worldwide.
IoT rising
5G Americas suggests an important part of the growth is coming from IoT connected devices like sensors, cameras, and many more solutions in both public and private 5G networks. According to 5G Americas and Omdia data, global IoT subscriptions currently stand at 3.4 billion, complemented by 6.7 billion smartphone subscriptions.
As 4G LTE-connected IoT devices are upgraded to flexible 5G-enabled IoT technologies, such as 5G RedCap (Reduced Capability), new enhancements offer network operators benefits such as improved energy and network efficiency. Due to these improvements, global forecasts suggest IoT subscriptions will reach 5.2 billion, while smartphone subscriptions will grow to 8.2 billion by 2029.
Latin America growing
Latin America also witnessed solid growth in 4G LTE and 5G connections, adding three million new LTE connections for a total of 592 million across the region, representing 74 percent of all wireless cellular access technologies in Q2 2024. Additionally, the region continues to embrace 5G with ten million new connections added, to reach a total of 57 million 5G connections that reflects a steady 21 percent growth rate.
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