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Have a Need for Speed? 5G Will Deliver That, and More
If you think about all the technology we have in hand – literally – today, it’s kind of mind boggling. Where just a generation ago you had to actually pick up and answer a hard-wired phone in your home to find out who was calling, today you can see at a glance who it is and decide if they’re worth your time.
We’ll leave the aesthetics of that decision to the individual, but the good news is that sooner than you thought, you’ll be able to make such a decision even faster, thanks to the coming of 5G technology.
Recent studies from ABI Research (News - Alert) show that 5G network deployment is expected to ramp up after 2020, and its market size is expected to reach $247 billion globally by the year 2025. It is believed that North America, Asia-Pacific, and Western Europe will be the three regions that will pioneer 5G network deployment.
Online investment advisors Zacks.com notes that superfast 5G mobile networks “will be of utmost necessity in managing the exponential growth of Internet-connected devices, popularly known as Internet of Things (IoT).” Zacks cites a report by research firm International Data Corporation that says worldwide spending on IoT is slated to grow at a 17 percent compound annual growth rate to nearly $1.3 trillion in 2019 from $698.6 billion in 2015. Telecom is going to be a big part of that.
Despite its current labor troubles, telecom giant Verizon (News - Alert) will reportedly start field trials for its upcoming 5G wireless network with its partners later this year. The company is preparing for initial deployment of the next-generation 5G wireless networks in the U.S. in 2017. And just two months ago, AT&T (News - Alert) asked the FCC to grant it a license to test 5G technologies on 3.5GHz, 4GHz, 15GHz and 28GHz frequency bands.
Clearly, things are happening in the 5G arena. How it all shakes out remains to be seen.
Edited by Maurice Nagle