Everyone wants to stay connected wherever they are, whether it is watching movies and surfing the internet on the go and controlling home appliances from remote locations or sending data from medical devices straight to the doctor and planning predictive maintenance of machines in a factory weeks before a serious fault occurs. For this, impeccable internet connectivity with high data transfer speeds and low latency is paramount.
While the 3G and 4G technologies made connected living possible, 5G is set to revolutionize it. Thus, with advancements in technologies and the changing outlook of people on everyday life, P&S Intelligence predicts the 5G infrastructure market revenue to surge massively in the near future from around $1.5 billion in 2020.
According to the GSM Association, “By 2025, 5G networks are likely to cover one-third of the world’s population.”, which reflects a huge upcoming demand for the various components required for setting up the infrastructure and services needed by firms planning to launch or use 5G services. The key reason behind the growing demand for the associated services and hardware is the rising adoption of the internet of things (IoT).
The concept applies to all devices and equipment that are embedded with sensors, processing software, and an internet connection for sharing data amongst themselves and other entities, such as smartphone apps and control rooms. Moreover, anything dubbed ‘smart’ these days, such as smartphones, smart lights, smart factories, smart wearables, and even smart homes, uses this technology.
Therefore, 5G is expected to be at the forefront of the evolution of the way people and even machines communicate in the 21st century.
Market Street 