5G, the next generation of wireless technology, is poised to revolutionize global societies and economies, accelerating Industry 4.0 by enabling faster speeds and better connectivity as we enter a new decade characterized by continued, explosive growth in the number and types of smart devices and their associated connectivity needs. Across the telecommunications industry, 5G is currently in use in over 30 cities nationwide. According to Verizon, by 2023, it is projected that there will be 1 billion 5G connections, with 20% of mobile traffic happening via 5G networks. In addition, 20% of the world’s population will be covered by 5G. In North America, 5G’s share of mobile subscriptions will be 48%.
Although the earliest wave of this technology will be driven by smartphones, ultrafast 5G will gain significant traction in other domains including autonomous vehicles, factory automation, remote health care, security and surveillance, smart cities and gaming.
The quantum leap from 4G to 5G will be extraordinary. While 4G can connect almost 2,000 devices per square kilometer, 5G could support up to 1 million in the same area with download speeds 10 to 20-times faster than 4G—and without the congestive latency of today’s broadband.