Report: 5G subscriptions outpace all previous generations
A mainstream technology, 5G is delivering high-quality, faster, and more consistent connections, with hundreds of smartphones and devices that support 5G.
The technology is set to generate US$7tn of economic value in 2030, according to a new report released by InterDigital and written by ABI Research.
‘The State of 5G Report: Enabling the Boundless Generation’ examines the expectations of telecom operators and brings into focus 5G as a necessary capacity booster for cellular networks, as operators look to capitalise on the latest generation of cellular technology to maintain and grow their profitability.
The impact of 5G on developing technologies
5G is set to have huge impacts on the mobile industry, particularly as it continues to enable new innovative services like AR/VR and immersive content. The metaverse is also a growing technology which is providing businesses with new ways to connect with employees and customers.
Telco operators are rapidly deploying 5G as a necessary capacity boost for their cellular networks and using the new technology to maintain their profitability and, in many cases, increase it. 5G is also starting to introduce advanced enterprise enabling features, including low latency, deterministic networking, and advanced Internet of Things (IoT) use cases, all of which are new in the mobile network domain, according to the report.
The research adds that industry stakeholders have expressed high hopes for the upcoming wave of 5G services, which will likely enhance productivity and efficiency through mobility, among other improvements. However, it also recognises that 5G would not be possible without contributions to the 3rd Generation Partnership Project (3GPP), which produces global technical reports and specifications on how next-generation networks should be built and implemented.
“The time we live in is an exciting inflection point for 5G and the way telecommunications networks are built and consumed. As 5G deploys across the world, it’s helping to solve fundamental challenges, and laying the foundation for experimentation, new ideas, and innovation. At the same time, 3GPP and the 5G supply chain are continuously working to progress 5G even further,” said Dr. Rajesh Pankaj, Chief Technology Officer, InterDigital.
“The early years of 5G have been foundational to its long-term success. Now is the time when we will experience and benefit from exciting new applications, new use cases and many more ways consumer lifestyles can be transformed,” he added.
Paving the way for future networks
The adoption of 5G was found to be outpacing all previous generations of cellular technology in terms of subscription rate and operator roll-out, gaining significant traction from enterprise verticals.
According to the report, the prospect for operators looks promising, as they witness the exponential rise of 5G and its growth opportunities – especially as 5G is set to support a wide range of revenue generating, mission critical applications.
“5G is now giving us a glimpse of what will be possible in the future and setting the foundation for the next generation of networks. The high capacity, high reliability and low latency capabilities of 5G are now starting to create the next wave of consumer and enterprise applications, in the very same way 4G seeded the creation of social networks, the collaborative economy and rich content. We are now in a very exciting technical era that will pave the way for 6G and future networks,” said Dimitris Mavrakis, Senior Research Director at ABI Research.