5G- the future of network connectivity

5G is the 5th generation mobile communication network unlike global wireless standard after the evolution of 1G, 2G, 3G, and 4G networks. 5G is a new kind of network designed for virtually connecting everyone and everything together including objects, machines, and devices. 5G has the potential to trigger the industrialization processes from advanced medicine to manufacturing applications as it will bring the transformation in the industry 4.0 revolution and industrial production processes.

Increasing broadband connectivity with growing digitalization and globalization

Rising demand for the 5G network owing to rapidly increasing broadband connectivity with surge in government and private investment due to surge in the globalization of the conventional businesses towards the digital one is expected to strengthen the 5G market. For instance, the leading 5G technology manufacturers such as Qualcomm and Intel have planned to invest over US$ 326 billion by 2025 to put 5G infrastructure across various parts of the globe.

Rising government involvement and investment for the 5G infrastructure development across several countries due to surge in adoption of the advanced technology device is expected to strengthen the 5G network across the globe. 5G network are designed to intelligently work together for consistently delivering superior coverage, high cellular speeds, and outstanding power efficiency for smart devices. For instance, as per the We forum Organization in 2019, 5G technology-based intelligent internet connectivity is expected to generate approximately US$ 3.6 trillion for the economic output globally by 2035.

Booming mature internet growth with surge in the investment by the government and private companies

5G wireless technology promises more than just a faster network. It will help redefine the network, establishing a new global wireless standard for speed, throughput and bandwidth is the faster method of For instance in November 2018, Nokia Corporation invested for telecom sector with an agreement worth around US$ 2.2 billion with three major telecommunication companies in China including China Telecom Corporation Limited, China Mobile Limited, and China United Network Communications Group Co., Ltd. This agreement has made for the deployment of the high-speed network infrastructure in China by adopting 5G-enabled devices across the country. It created massive demand for the growth of the 5G chipset market. Jio has also announced that they will be ready to deploy 5G technology in the second half of 2021. However, due to the increasingly high costs of building the infrastructure, it would take anywhere from 2-5 years for 5G to be successfully launched all across the country.

Rapid adoption of advanced technology devices such as IoT, connected & smart devices with growing internet penetration globally

Rising demand for smart devices with the advent of advanced technology such as IoT devices, AI, etc. around the globe has stipulated the market growth. For instance, according to the We forum Organization in 2020, IoT investments by several businesses reached US$ 832 billion whereas total consumer spending on IoT devices rose to US$ 236 billion around the globe. Further, the Covid-19 pandemic has radically created a massive demand for connected devices which are useful for monitoring and tracking disease-infected cases around the world. However, during the Covid-19 pandemic, the 5G infrastructure projects are on hold due to more focus of several governments on healthcare to provide essential treatment for the rising Covid-19 infection cases.

Increasing global demand for the connected devices for the business purposes in the several industries including healthcare, IT & Telecom, energy & utilities and manufacturing is expected to witness massive demand for 5G market growths. For instance, as per the congressional research service organization, the global connected devices’ including IoT & Non-IoT device market reached to around US$ 19.6 billion and is projected to reach US$ 32.5 billion by 2025.

5G technology in cloud computing to bring the revolutionary changes in the broadband internet connectivity across the globe

5G makes 10 to 100 time’s faster speed as compared to 4G and LTE speeds. This means that 5G technology will evolve the cellular network for improving the performance of internet. The 5G technology will largely benefit the cloud computing industry for providing faster support and data transfer by various models as-a-service. The evolution of 5G is developing by an exponential growth in the internet traffic which keeps up the demands of scaling possibilities in the mobile network. 5G will allow extremely high transmission rates and storages into the cloud. Rising cloud computing applications and use by the consumers to access without latency and performance issues is expected to strengthen the 5G technology market growth. For instance, as per the International Trade Administration report, public cloud expenditure reached to around US $ 250 billion by 2017, increased from US$ 158 billion in 2014. It has created massive demand for the 5G network market around the globe to provide high speed of downloading and data transferring. 5G will enables both downloading and uploading faster with 20 Gbps per second down increased by 10 Gbps compare to 4G network.

Rising 5G network deployments worldwide due to rising demand in the emerging applications such as autonomous vehicles, IoT devices etc.

The demand for faster, more consistent and reliable connections are increasing at rapid pace for safety-critical V2V/V2E applications in autonomous vehicles, IoT devices for making life more comfortable, sharing of high-quality video content. This application of the 5G is increasing which in turn risen the demand for the commercially launching of the 5G networks. For instance, worldwide, around 162 commercial 5G network have been launched in 2020. Further, as of April, 2021, there were over 435 operators from 133 countries have been invested in 5G technologies for conducting trials, network deployment, launches, acquisition of licenses and 5G infrastructure. This has increased the demand for the 5G network due to its enhanced mobile broadband speed by 100 times faster than 4G network, including HD services for hologram transmissions, automotive, agriculture, healthcare and other industry. Also, in Dec, 2020, Indian government is conducting 5G trials and the countries like South Korea, China, and United States have raced ahead in 5G deployments with 135 live 5G services are available across the Europe, Middle East, Africa, North America, and Asia Pacific. Also, in March, Cisco Systems US-based multinational company has invested US$ 5 billion funding projects for 5G services globally. The company also planned to invest some part of it in India for helping telecom operators to build crucial components of wireless networks including infrastructure, transport, mobility, and security solutions. Rising implementation of 5G networks in India with additional investment of US $60-70 billion for network densification, layer upgrades, and fiber for backhaul, spectrum access and infrastructure is expected to witness 5G market growth.