According to the Ericsson Mobility Report of November 2020, it has been predicted that 5G subscriptions will reach 3.5 billion globally by the end of 2026, accounting for about 40 percent of total mobile subscriptions. The uptake rate of 5G subscriptions is significantly higher than it was for 4G.

The reports say that 5G is no longer just a novelty. Instead, it is entering the next phase, when many new devices and end-user applications make the most out of the technological benefits it provides. At the same time, communications service providers worldwide continue the build-out of 5G. By the end of 2020, over 1 billion people, or 15 percent of the world’s population, will live in 5G coverage areas.

What is 5G? Let’s understand!

The official definition of 5G says that it has higher speeds and lower latency (the lag time between when a device asks for information and when it receives it as per MIT Electrical Engineering and Computer Science professor Muriel Médard). He further adds that the network will use higher-frequency radio waves in addition to the range of frequencies already used and will work with more minor, more closely distributed wireless access points instead of large, dispersed cell towers.

Nicola Palmer, a senior Vice President of  Verizon, explains that When you think about 5G, you should consider, ‘Well, what doesn’t work on 4G?’

5G is the fifth-generation cellular network, formally defined by global standards agencies. New networks had emerged roughly every ten (10 ) years since 1980 when 1G came on the scene with giant cellphones that only made phone calls. Later, 2G introduced messaging, 3G brought access to the internet, and 4G, which emerged around 2009, got a leap in data download speeds, allowing users to do things like stream movies on mobile devices.

What will 5G bring?

As a wireless technology, 5G delivers higher multi-GBPS peak data speeds, ultra-low latency, more reliability, massive network capacity, increased availability, and a more consistent user experience to more users.

The world is poised to change forever by implementing fifth-generation connectivity for data networks around the globe. 5G is the savior to any connectivity problems we’ve had in the past. 5G has also highlighted as a path towards a fully wireless future. Therefore, 5G experts say that it will bring wider bandwidths by expanding the usage of spectrum resources, from sub-3 GHz used in 4G to 100 GHz and beyond. 5G can operate in both lower bands (e.g., sub-6 GHz) and mmWave (e.g., 24 GHz and up), which will bring extreme capacity, multi-Gbps throughput, and low latency.

Can 5G change the world?

5G is a wireless network infrastructure exponentially better than anything we’ve ever seen before. Businesses will have access to anything they need from a tech perspective without massive barriers to entry. 5G will allow AI and predictive learnings to thrive anywhere, meaning predictive maintenance and beneficial IoT.

5G will likely bring about a new technological revolution for businesses. Companies have a plethora of opportunities to take advantage of if they have access to fast data anywhere. If you let your mind run for any bit of time, you can start running away with concepts about all the crazy things that 5G could enable.

According to qualcomm.com, 5G is driving global growth with

• 13.1 trillion dollars of global economic output
• $22.8 Million new jobs created
• $265B global 5G CAPEX and R&D annually over the next 15 years

Through a landmark 5G Economy study, they found out that 5G’s full economic effect will likely be realized across the globe by 2035—supporting a wide range of industries and potentially enabling up to $13.1 trillion worth of goods and services.

This impact is much more significant than previous network generations. The development requirements of the new 5G network are also expanding beyond the traditional mobile networking players to industries such as the automotive industry.

The study also revealed that the 5G value chain (including OEMs, operators, content creators, app developers, and consumers) could alone support up to 22.8 million jobs, or more than one job for every person in Beijing, China. And many emerging and new applications will still be defined in the future. But only time will tell what the entire “5G effect” on the economy will be.

How to Prepare Your Business for the 5G Revolution?

IT professionals and decision-makers at ZDNET explains the five (5) way system to ready your business for 5G technology. Here are the steps you should follow:

• Establish where 5G can make the most impact first – Any small business creating a long-term strategy for growth needs to manage costs carefully.
• Prepare networks and cloud services – Mobile network providers are investing in networks and services now so your business can benefit from 5G in the long-term
• Find partners and providers- 5G means your workers will be able to use more data when they’re out and about, which could be a significant change from a cybersecurity and business process perspective
• Understand the difference that 5G makes. – Global spending on 5G will rise annually over the next eight (8) years from $8.43 billion in 2020 to $827 billion in 2028.
• A new era of connectivity. – 5G isn’t just about the mobile devices that your workers use today and tomorrow. 5G also promises the higher bandwidth and ultra-reliable, low-latency communication needed for the next generation of Internet of Things (IoT) devices. These devices will help usher in a new era of connectivity.

Sources:

Brown, S (2020, February 13) 5G, explained
https://mitsloan.mit.edu/ideas-made-to-matter/5g-explained

Jejdling, F (2020, November) Ericsson Mobility Report November https://www.ericsson.com/4adc87/assets/local/mobility-report/documents/2020/november-2020-ericsson-mobility-report.pdf

Bayern, M (2019, November 25) 5G takeover: The next-gen network will cover 65% of the global population by 2025 https://www.techrepublic.com/article/5g-takeover-the-next-gen-network-will-cover-65-of-the-global-population-by-2025/

English, T (2020, May 25) How 5G Technology is Going to Change Our World https://interestingengineering.com/how-5g-technology-is-going-to-change-our-world

ZDNET (2021) Five ways to make your business 5G-ready
https://www.zdnet.com/paid-content/article/five-ways-to-make-your-business-5g-ready/

Image Credits:

CHUN YIP WONG/iStock

Qualcomm Incorporated https://www.qualcomm.com/5g/what-is-5g

https://www.ericsson.com/4adc87/assets/local/mobility-report/documents/2020/november-2020-ericsson-mobility-report.pdf