Many companies are waiting for 5G’s inevitable arrival yet they are still planning on how to prepare for it. While a market where 5G is ubiquitous will see many changes, few will actually be revolutionized besides the telecom industry. In the past few years consumers have flocked to digital devices forcing them to up their wireless systems. Twenty-six billion devices are expected to be working around the world as soon as 2020 and nearly all of them will eventually rely on 5G.
In order for 5G to truly take off in the market, then consistent and reliable coverage must be offered virtually everywhere. A mainstream adoption of 5G won’t be expected until 2020 but this doesn’t stop industry leaders from getting on board now.
5G could result in a lot of profit for the telecom industry. A recent report suggests that in the next decade alone there will be an investment of over $247 billion and a revenue of $12.3 trillion, which is only expected to increase.
5G will increase the volume of data available to businesses and consumers alike. It will soon become the foundation of a data-driven market which relies on sensors everywhere. The more sensors, the more data that will be in demand that only 5G can offer.
Some of the biggest challenges industries will face is reevaluating their standards as well as monetizing their 5G platforms. One way or another, 5G will reshape the way businesses operate and it is best to get ready for this change as early as possible.