5G connectivity is a major breakthrough in the telecommunication industry and is expected to revolutionize industry and business across all sectors.
Demand for mobile data traffic is expected to increase multifold in the coming years and 5G connectivity will drive, and satisfy, this growth as legacy 4G networks are unable to keep pace with demand especially in dense urban areas.
5G wireless technology is designed to deliver higher speeds, greater bandwidth, ultra-low latency, more reliability, massive network capacity and a standard user experience to increased user base. Higher performance and improved efficiency from 5G connectivity would help to connect virtually everyone and everything together including machines, objects, and devices.
The evolution and adoption of 5G would create numerous opportunities for business. Similar to the way 4G had shaken up the industry landscape, wherein data packages became more important than voice and SMS packages, 5G connectivity would help us to harness the full potential of IoT (Internet of Things), AI (Artificial Intelligence) and AR (Augmented Reality), among many others.
5G assures 10 times more speed than wireless connectivity, which is expected to eliminate latency and create seamless connectivity. It offer latency of 1 millisecond (ms) or lower, which is useful for end use applications that require real-time feedback.
According to Nokia Corporation, by 2024, there will be over a billion 5G subscribers globally. Nowadays, communications service providers are making move to standalone designs to deliver the full benefits of 5G technology. Increasing investment in the 5G network will build the sustainable infrastructure and long-term success.
5G connectivity market and trends
Increasing adoption of smart phone, smart wearable, smart home, and smart cities along with IoT, AI and AR is creating demand for efficient network infrastructure. Technological advancements along with expanding infrastructures are expected to accelerate the growth of the 5G infrastructure market and 5G connectivity over the forecast period. Also, increasing demand for no-buffer live video streaming, amplified use of social media sites and other such factors are substantially fuelling the growth of 5G infrastructure market.
However, high-cost associated with replacing the legacy infrastructure with 5G infrastructures, along with privacy and security concerns may impede the market growth. On the other hand, upsurge in government initiatives to strengthen the communication infrastructure is expected to create ample of opportunities for the players in the 5G infrastructure market.
