Intention to upgrade to 5G in urban India is two times higher than their counterparts in markets like the UK and US where 5G has already been launched, as per a study released by Ericsson, a global player in 5G, on Wednesday.
The study revealed that over 100 million users with 5G ready smartphones wished to upgrade to a 5G subscription in 2023 while more than half of them were open to upgrading to a higher data plan in the next 12 months.
According to the Ericsson ConsumerLab study titled ‘Promise of 5G’ in India, 5G network superiority could emerge as a driver for consumer loyalty with 59 percent of smartphone users intending to upgrade to 5G in the first 12 months. Within those who plan to upgrade to 5G, 36 percent plan to churn to the best provider of the 5G network when it is available. Some 60 per cent of early adopters who already have a 5G-capable phone expect 5G to bring new innovative applications, which are considered more appealing than better coverage. These users are even willing to pay a 45-percent premium for a plan bundled with novel experiences provided their expectations are met.
The study tested 27 different 5G enhanced services with Indian consumers to reveal the top 10 services that Indian consumers wish for on their 5G plans. These include Health and Fitness; 360-degree live video streaming; cloud gaming; 5G TV Package; Virtual meeting space; immersive education; best-seat event experience; interactive calling; location-based AR shopping and VR Shopping.
Jasmeet Sethi, Head of Ericsson ConsumerLab says:” The transition to 5G provides an opportunity for service providers in India to strengthen their position in the consumer market, with a focus on 5G quality and availability. More innovative experiences need to be bundled to meet the expectations of early adopters to successfully monetize 5G.”
“Even as 5G will provide immersive experiences to urban customers, it will also play an important role in achieving India’s digital inclusion goals, especially in bringing broadband to rural and remote homes.’‘Nitin Bansal, Head of Ericsson India and Head of Network Solutions, South- east Asia, Oceania and India, Ericsson.
