The opportunities are always endless with technology. And I can only guess how tired you are reading that in my blogs? But today, of course, this statement comes with a caveat: We are only able to do the things we can dream if we have the core foundational elements such as the connectivity needed to spur new innovation like the rising implementation of AI (artificial intelligence) applications. This is where 5G enters the conversation.
What Is 5G?
At its core, 5G is the fifth generation of wireless cellular technology. With it, brings greater feeds and speeds, which will enable adoption of new technologies and digital transformation.
When Will 5G Surge?
These crackerjack soothsayers predict a surge might soon be on the way. Research from Fortune Business Insights explores traction in the 5G arena, suggesting the global 5G infrastructure market will exceed $80 billion by the end of 2027. MarketsandMarkets makes a bolder prediction stating the 5G services market will see a whopping 52.4% growth rate between 2023 and 2028. The Ericsson Mobility Report from November 2023 suggests global 5G population coverage is forecast to increase to around 85% in 2029. All in all, these fortunetellers predict growth is imminent.
Why 5G?
The reasons for this surge are myriad. For one, Fortune Business Insights suggests the 5G infrastructure market is increasing partly because more businesses are realizing the urgency for high-speed, low-latency connectivity in mission-critical situations. We know 5G enables higher speed data transfer with lower battery consumption.
This can enhance connectivity and enable new use cases. One example, according to MarketsandMarkets is the integration of 5G technology in environmental monitoring and sustainability initiatives, which will serve as a significant driver, as realtime data collection and analysis can foster better resource management. Certainly, this is only one example, but there is a regional component to 5G that should be examined as well.
Where Is 5G?
The Mobility Report from Ericsson contemplates all of this from a regional perspective, saying China has built a 5G population coverage of 95%, mainly through mid-band deployments. Meanwhile in Europe, there is a disparity between total 5G population coverage and mid-band coverage, which is due to the limited availability of mid-band spectrum in some countries, resulting in deployments being fairly low band. Looking at the North American market, service providers have deployed 5G across low-, mid- and high-band frequencies. During recent years, mid-band has also been rapidly deployed.
Who Is Enabling 5G?
Certainly, a multitude of companies and carriers have a stake in 5G, Ericsson being one of them of course. But we see countless firms making big moves in the market. Partnerships will be key to continue to power private 5G solutions.
Consider the recent example between Intel, Amazon Web Services, Cisco, NTT Data, Ericsson, Nokia, and more. The companies are working together to break down the barriers to allow operators to monetize their networks and enterprises to quickly design and deploy intelligent private networks across industry verticals, including manufacturing, transportation hubs, mining, utilities, healthcare, education, and others. So, what’s the benefit?
Each tech company will have its own role to play, but ultimately this will allow businesses to achieve high-bandwidth, low-latency compute in secure environments needed for the most demanding edge workloads.
At the end of the day, 5G will open up new opportunities for businesses and enterprises. As this continues to unfold, companies will need to determine how to best leverage the technology and the connectivity to enable the next era of innovation. Let’s hope the road ahead is paved with good intentions.
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