Speaking at a conference in Stockholm, Sweden, Ericsson CEO Hans Vestberg and other members of the company’s management team looked into the future and saw a world in 2020 made up of 9 billion people, 9.1 billion mobile subscriptions, and video accounting for 50% of data traffic. The conference, the Ericsson Business and Innovation Forum, provided the company with a platform to explain how Ericsson would remain an influential and relevant part of this ongoing technological revolution, noted FierceWireless.

Ericsson CTO Ulf Ewaldsson also chimed in, saying he expected broadband traffic to expand 1000% by the beginning of the next decade. “Spectrum will become more valuable than oil,” Ewaldsson predicted. Ericsson executives also talked about the importance of ensuring that international organizations such as the United Nations realize how influential Information, Communications, and Technology (ICT) will be in the continuing evolution of healthcare, transportation, and other transformative global industries.

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