4 Crore Indians Ready To Pay 50% More For 5G Services In 1st Year (Survey)
Due to the enhanced capabilities that come with 5G, it is one of the most awaited feature for consumers as it promises to change the way one uses his/her phone.
Downloading or sending a larger file within no time is one of the factors amongst many.
Currently, 5G spectrum auctions and the trials have just started and there are chances that there is a possibility of the entire launch being delayed till 2022, as per the reports.
Recently, the true importance of the 5th Gen network about the 5G technology has been indicated in a ConsumerLab report by Ericsson, which reveals how many users will move to the technology, hence giving an insight into the number of prospective consumers waiting for the same.
40 Million Indians Ready to Upgrade to 5G in 2021
As per the reports, as many as 300 million consumers globally could upgrade to 5G in 2021, while the figure in Indian context is around 40 million.
The delay of 5G rollout has to do with both, the pandemic as well as abysmal planning by the government in this regards.
5G will be a major improvement over 4G and shall bring low latency applications and provide revenue new streams.
50% Ready To Pay More
With 67% of users interested in taking up 5G when it is available, according to the report, India has the highest rise in intention to upgrade to 5G.
In comparison to just a 10% premium for just 5G connectivity, Indian consumers are ready to pay 50% more for 5G plans with added digital services such as OTT platforms.
Significantly, users are also expecting features such as higher speeds than 4G and new pricing features that make sharing among more users.
70% of potential first-time adopters of 5G expect higher speeds while 60% of users expect higher pricing.
It was also observed that 5G is causing a new trend within users, some of which have reduced Wi-Fi usage, one hour of AR play and two hours of cloud play compared to 4G users.
In addition, the report also predicts that consumers will be spending 7-8 hours a week on extended real applications by 2025.
It was also noted that by the end of 2020, an increase in job awareness and value benefits could lead to 22% of users upgrading to 5G subscriptions using 5G-enabled telephones.