The November 2023 edition of the Ericsson (NASDAQ: ERIC) Mobility Report projects that total mobile subscriptions in the Middle East and North Africa will grow at 2.4 percent annually from 740 million in 2023 to 850 million in 2029. 4G subscriptions will account for 54 percent by 2029, while 5G subscriptions are projected to register the strongest growth in the period, at 41 percent compounded annually from 44 million subscriptions in 2023 to 350 million in 2029, to account for around 40 percent of total subscriptions by 2029.
The telecom industry growth remains strong in the Middle East and North Africa with service providers expected to increasingly push solutions such as mobile financial services and Fixed Wireless Access (FWA).
The Middle East and North Africa region is also expected to experience significant mobile data traffic growth, with a compound annual growth rate (CAGR) of 23 percent forecast between 2023 and 2029. 4G traffic is expected to be the primary driver of growth with monthly data usage per smartphone expected to reach 45 GB by 2029, rising 17 percent annually.
Håkan Cervell, Vice President and Head of Saudi Arabia and Egypt at Ericsson Middle East and Africa, says: “The November 2023 edition of the Ericsson Mobility Report shows that the growth in the Middle East and North Africa (MENA) region by 2029 can be attributed to a remarkable increase in the number of 5G subscribers. MENA is witnessing an accelerated digitalization journey, driven by strong governmental ambitions and an increasing tech-savvy population in the region, and we are committed to our esteemed partners to deliver the technologies that will make it all happen.”
The report also estimates that in the six years between the end of 2023 and 2029, global 5G subscriptions are forecast to increase by more than 330 percent – from 1.6 billion to 5.3 billion. 5G coverage is forecast to be available to more than 45 percent of the global population by the end of 2023 and 85 percent by the end of 2029. North America and the Gulf Cooperation Council are expected to have the highest regional 5G penetration rates by the end of 2029 at 92 percent, and Western Europe is forecast to follow at 85 percent penetration.
