From late 2019 to early 2020, the hype surrounding a potential nationwide 5G rollout was difficult to ignore. Unfortunately, the pandemic, a recession, and the limited availability of 5G-enabled smartphones further delayed 5G from bursting into the mainstream. Although millions of Americans use 5G services already, hundreds of millions still do not. Heading into 2021, however, 5G is regaining its momentum.
The first 5G networks went live in the US in late 2019, but the range of 5G-enabled mobile devices was limited and network coverage was spotty. Telecom service providers and mobile device manufacturers finally began peeling away these limitations last year. The current, relatively small 5G user base will allow for colossal growth over the next several years. Even after a projected 161.4% increase in US 5G mobile service subscriptions in 2021, growth will be 79.1%, 71.9%, and 32.0% over the next three years, respectively. By the end of 2024, US mobile service providers will be able to claim 167.9 million subscriptions that regularly or entirely use 5G networks.