We’ve all heard about 5G connectivity, which has been a topic of interest for a couple of years. However, it is now a reality, with mobile carriers in the United States, China and South Korea among other countries. These countries has been rolling out with 5G network from late 2019. 5G still hasn’t found its way to the Indian subcontinent. it is being speculated that by mid-2021 5G services will be made available to the Indian consumers.
5G mobile phones are expected to capture greater market share over the next 5 years. In 2019, the researchers at Gartner was forecast something. He said that 5G smartphone models would account for 12 percent of smartphone shipments globally in 2020. China, along with the other emerging Asian countries, is expected to drive the growth of 5G mobile phones over the next couple of years.
The 5G infrastructure market globally is projected to reach US $58 billion by the year 2025. It is according to Allied Market Research. Which is showing a compound annual growth rate (CAGR) of 96 percent.
Economic Impact of 5G
5G, once rolled out in India, is expected to change the way we communicate with each other. While providing the consumers with faster internet speeds and ultra-low latency. Furthermore, 5G is also expected to create a significant cumulative economic impact of US $1 trillion by the year 2035. It has said by a report from an Indian government-appointed panel. In addition to these projections, the global telecom industry GSMA also estimated that India will witness around 70 million 5G connections by the year 2025. On the other hand Ericsson, in a separate report estimated that the 5G-enabled digitization revenue potential of the country will exceed US $27 billion by 2026!
How 5G Will Change Our Lives
Through 5G technology, consumers will be able to experience unparalleled internet speeds. It is also enabling them to download data-heavy content, including graphically-intense games and 8K movies in a matter of seconds. Once consumers embrace 5G, and mobile carriers begin offering 5G services, old handsets will become obsolete. With this the consumers will have to buy 5G-enabled smartphones.
Advantages of 5G
5G will also act as the backbone of new, emerging technologies, including the Internet of Things (IoT), along with machine-to-machine communications. Millions of appliances and devices will communicate with each other, thanks to 5G’s ultra-low latency. It is significantly reduces the time taken by the data to travel between the source and its destination.
5G is also expected to help engineers and manufacturers in developing autonomous vehicles. It helps doctors with tele-surgeries, and serve as the foundation for developing smart cities.
Projected 5G Smartphone Growth and Penetration
Few brands have already released 5G phones in the Indian market, with Realme and iQoo being the first two brands to seize the opportunity. Samsung and One Plus have since unveiled their own 6GB RAM mobiles that support 5G, while Apple is expected to release iPhone 12, which will feature 5G connectivity.
According to the Ericsson Mobility Report, 18 percent of the mobile subscriptions in India would be 5G by 2025, with 4G continuing to dominate the market share with 64 percent. The report also forecast the global 5G subscriptions to exceed 190 million by the end of 2020, and reach 2.8 billion by the end of the year 2025.
Another report by Cisco predicted that around 5 percent of the total smartphone users will move to 5G by 2023. While the remaining population depending on 4G and 3G connectivity. The report also forecast that the country will have 2.1 billion connected devices by the year 2023, increasing from 1.5 billion in 2018.
Industry experts believe that it will take at least four to five years for 5G to become mainstream in the country. similar to 4G when it was initially rolled out. Furthermore, it is also being predicted that more than 50 percent of the smartphones. It will be shipped to India in 2021 will be 5G-enabled devices. 5G-enabled smartphones are also expected to completely replace the older models within the next decade, rendering them obsolete.