Research and Markets, a database of searchable and downloadable market reports, has added a new item to its collection: “5G Technology Market and Its Impact on Communication and IoT Market.”
The new report, unlike many of its counterparts, deals primarily in the future. Where others may predict what a market could become from the present until several years in the future, the “5G Technology Market” report suggests that, beginning in 2021 with 35 million users, the 5G mobile base of customers could extend to 89 million by 2022. That growth of 54 million users in the one-year span suggests that the formative years of the coming mobile generation will be fruitful for all involved.
Although development of 5G mobile is ongoing, signs point to the first commercial deployment of 5G only as early as 2020. Various prediction models differ in their estimates of how many users will be aboard the train come its first years of production; even the deployment date of 5G services may be called into question.
The reason there is so much flux in such predictions is the complexity involved in launching a new standard of mobile. Many parties are working together (such as TMC’s mention earlier of SK Telecom’s (News - Alert) memorandum with Verizon) to make sure that global telecoms can share services and provide positive experiences to their users once the switch is flipped.
5G will also attach to more types of services than did its predecessors on their launches. Businesses are keen to adopt faster and more reliable wireless because of their interest in the Internet of Things, which can be used to sync many millions of machines, such as utility meters, together to form a collective network. Only the high speeds of 5G can maintain the integrity of such a network, so it will be 5G where early adopters jump in creating their future-facing networks.
Consumers will also play a significant role in the growth of 5G. Users will be able to stream video at higher speeds and find connections to their wired homes as more reliable than ever before.
The latest Research and Markets report suggests that China, Japan, South Korea and the U.S. will be the frontrunners as early adopters of 5G in the business and consumer arenas. Soon businesses in a variety of industries such as utilities, public safety, home automation and consumer electronics will have their own assets tied to 5G even more than they tie to 4G today. Come the turn of the new decade, the wave will begin, and it could rise with conviction.