Every new technology opens up new possibilities! For the past couple of years, the interest and speculations in 5G are on the rise! Right now, it’s a reality. Many countries across the world are getting the 5G spectrum to deploy infrastructures to harness the technology. In some places, the operational difficulties are being solved at crazy speeds we can’t even imagine as well.
Mats Granryd, Director General of the GSMA, said:
- Partner content -
Over the last 12 months, we have seen the 5G’ hype’ make way for reality: millions of consumers are already migrating to 5G, while enterprises are beginning to embrace 5G-enabled network slicing, edge computing, and low-latency services.
Notably, 5G, the fifth generation of cellular technology following the 4G standard that rolled out back in 2011, is now live in 24 markets. Why so much hype? This cellular technology promises to enhance the speed, responsiveness, and coverage of the wireless network. Also, the latency will be very low in this case.
According to the 2020 global edition of the GSMA’s flagship ‘Mobile Economy’ report series, 46 operators in 24 markets had launched commercially available 5G networks by 30 January 2020. One in five mobile connections is forecast to be running on 5G networks by 2025.
Granryd added:
The mobile operator, worldwide investment forecast, will be more than a trillion dollars over the coming years, focused on rolling out advanced networks to serve both consumer and enterprise customers.
So here’s what you need to know what the next thing that could bring increased satisfaction. Could that next thing be 5G?
4G is still king!
5G networks will use existing 4G LTE as a standard and technology as its foundation. For the uninitiated, 4G was the world’s dominant mobile technology last year, supporting more than half (52 percent) of global connections. Despite the 5G hype, reports claim that 4G will continue to grow over the coming years, increasing to account for 56 percent of connections by 2025.
Massive investment in 5G!
Mobile operators are expected to spend $1.1 trillion worldwide between 2020 and 2025 in mobile CAPEX, roughly 80 percent of which will be on 5G networks. Upgrading to 5G would include digital inclusion, which is valuable in its own right.
5G is forecast to contribute $2.2 trillion to the global economy by 2034, with key industries such as manufacturing, utilities, and professional and financial services benefitting the most from the new technology.
It’s worth mentioning that, across Europe, there are several hardware startups and IoT companies that are on the verge of bringing new hardware equipment such as vehicles, drones, sensors and more that will make use of 5G.
IoT will be an integral part!
Between 2019 and 2025, the number of global IoT connections will more than double to almost 25 billion, while global IoT revenue will more than triple to $1.1 trillion. It is believed to be capable of knitting together a massive network of sensors and devices together. Some businesses will incorporate 5G technology to build new industry solutions and improve the customer experience. In this case, the car industry will be among the first to benefit.
Unique mobile subscribers!
As per the report, The number of unique mobile subscribers at the end of last year stood at 5.2 billion (67 percent of the population) and is forecast to grow to 5.8 billion by 2025 (70 percent). Also, the smartphones are forecast to account for four of every five connections by 2025, up from 65 percent in 2019.
Half the planet connected to the mobile internet
Almost half of the global population (3.8 billion people) are now mobile internet users, forecast to reach 61 percent (5 billion) by 2025. Notably, the 5G is multi-service and will deliver tailored performance according to the needs. The 5G technology will also empower transformational use cases and business models, bringing in new opportunities in all the sectors of human life.
Stock Photo from jamesteohart/Shutterstock
Stay tuned to Silicon Canals for more European technology news.
