5G technology, the future of wireless access technology, has lured the world with an unending curiosity since late 2018. 5G networks are derived as the next generation wireless access technology, owing to several benefits witnessed by users upon its adoption. This state-of-the-art technology is expected to aid in the enhancement of mobile broadband with major applications in other industries too. This, in turn, is presenting the smartphone users, along with the early adopters of smart technologies with seamless network speeds and fiber speeds.
Upgradation of Network Attributes
However, witnessing a satisfying video gaming experience, or the ability to download a full-length HD movie within seconds are just the tip of the metaphorical iceberg of benefits. The advent of 5G technology is anticipated to create lucrative opportunities for many vendors in the business world in the coming years. With a higher degree of connectivity, the 5G networks will enable organizations to fast-integrate ground-breaking technologies such as artificial intelligence, automation, as well as the internet of things, accelerating advancements in these end-user industries.
Along with the most awaited commercialization of this ground-breaking technology, the world is expected to witness the deployment of more than 70 billion Internet of Things (IoT) devices by the end of 2025. This deployment is a direct result of the advent of 5G and the commercial availability of the same. Other applications of 5G technology are found in enterprise networking, industrial IoT, as well as, critical communications.
Debunking Over-Exaggerated Myths of 5G Wireless Access Technology
Although, the misconception prevailing among consumers is that 5G technology has the capability to pull off magic tricks and enable operations at lightning speed. To clarify and debunk this myth, it is important to note that 5G NR speed in sub-6 GHz bands is observed to be slightly higher than the 4G network which boasts a similar amount of spectrum and antennas. It is also important to note that certain 3GPP 5G networks may also function at lower speed as compared to some advanced 4G networks.
Transformational Factors Shaping the World
That being said, 5G technology is transformational owing to several factors; one of which is that it can support upto a million devices per square kilometer, whereas a 4G network is capable of supporting only upto 100,000 devices. Another factor that justifies the pedestal of 5G technology is the lower network latency. 5G drops the network latency from 30ms to 1ms, which leads to a stark surge in the gaming experience. Apart from that, lower network latency is proven ideal for online video streaming, as well as higher connectivity within the Internet of Things (IoT), coupled with better connect to sensors, computer, and other ultra-low latency devices.
Supportive Facts and Figures of Next Gen Wireless Access Technology
According to a latest study conducted by Market Research Future (MRFR), it has become far more evident that the global market for 5G technology is flourishing at an accelerated pace. The report has positioned a spotlight on several factors which are responsible for such ascension. Although, one of the major factors hindering such growth is the uniqueness of 5G network implementation, as compared to 3G and 4G networks. Unlike the latter two networks, 5G technology needs an overhaul of existing network infrastructure which is unsupported by the current telecommunication towers currently positioned. Due to this, prevalence of infrastructure remains a major concern for the market growth. This, however, has led to a heavier emphasis by market vendors on the development of cost-effective and feasible solutions, aiding in easier 5G network implementation.
This MRFR report has suggested a whopping 70.83% CAGR in the global 5G technology market, by the end of 2025. Additionally, the report has also concluded that it is expected to reach a market valuation of USD 700 billion between 2020-2025. This staggering stature of the market is bound to influence proliferation in several end-user industries. This is aiding and enabling skyrocketed technological innovations and integrations, hence, reshaping the world of business and the internet.