The rollout of 5G technology will proceed at blistering pace, with the number of subscriptions in Asia and North America set to exceed 1 billion units by the technology’s fifth year of deployment, nearly triple the total for 4G during the same time period, according to Elias Gravitinos, principal analyst, IHS Markit.

Starting from a negligible level this year, 5G subscribers in the Asia Pacific and North America regions will soar to 1.1 billion units by 2023. In contrast, 4G’s subscriber base in the two regions amounted to just 417 million units in 2014 five years after that technology’s initial deployment.

Several factors will contribute to 5G’s rapid rise, including

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