A bigger-is-better mentality has swept the tech and media industries over the past 18 months, as companies have spent $200 billion on a series of megamergers that have reshaped the American business landscape. In a wave of merger mania, the nation’s third and fourth-largest wireless carriers, T-Mobile and Sprint, are moving closer to becoming a significant rival to AT&T and Verizon. The new company, T-Mobile, would have about 100 million customers, disrupt the current system and spark the 5G economy. With real, nationwide 5G for all, the New T-Mobile will open massive wireless highways and accessibility for Americans.
The promise of 5G networks opens the door to more connectivity and unique locations that don’t have Wi-Fi. Ericsson predicts that 5G coverage will reach 45% of the world’s population by the end of 2024. When looking only at North America, that increases to 63% of mobile subscriptions.
5G also represents a step change from previous generations of mobile technology by enabling lower latency – the time it takes for signals to travel through the network. This gives it a wider range of applications by providing the responsive digital technology required to support innovations such as robotics and the Internet of Things (IoT).
5G will support the introduction of new goods and services, with higher data rates and lower latency expected to enable greater use of IoT devices. It will improve business efficiency in producing and delivering goods and services and enable scope for greater innovation and the development of new products. For example, faster download speeds and lower latency will make cloud computing more effective and allow for better collection and analysis of big data that can lead to more real-time decision making. A key for optimized marketing. It will also improve health and social outcomes. Wearable technology and IoT devices will help people better access health and education services in a timelier and personalized fashion – the gains from which will have a flow-on effect and will largely accrue to individuals.
Reflecting consumer preferences, the demand for 5G is here. This demand is translating into greater mobile data use, which is expected to grow exponentially over the next few years.