5G is the fifth generation of cellular networks. It is a new global wireless standard that follows 1G, 2G, 3G and 4G networks. 5G will enable a new type of network designed to connect almost anything and everyone, including machines, things and devices. 5G wireless technology is expected to deliver higher peak multi-Gbps data rates, ultra-low latency, higher reliability, greater network capacity, improved availability, and a more consistent user experience for more users. Higher performance and improved efficiency improve new user experiences and connect new industries.
1G, 2G, 3G and 4G are all leading up to 5G, which is said to offer more connectivity than ever before. 5G is a more powerful and unified wireless interface. It is designed with expanded capacity to enable next-generation user experiences, enhance new delivery models, and deliver new services.
With high speeds, exceptional reliability and negligible latency, 5G will expand the mobile ecosystem into new areas. 5G will affect every industry by making secure transportation, telemedicine, precision agriculture, digitized logistics and more a reality. Through our ground breaking 5G economic study, we have found that the full economic impact of 5G will be realized globally by 2035. It supports a variety of industries and potentially enables up to $13.1 trillion worth of goods and services.
This impact is much greater than previous generations of networks. Development requirements for new 5G networks extend beyond traditional mobile operators to industries such as automotive. The study also found that the 5G value chain alone (including OEMs, operators, content creators, app developers and consumers) could support up to 22.8 million jobs, or more than one job for all, in Beijing, China. And there are still many new uses and new uses to be defined in the future. Time will tell what the full “5G effect” will be like for the economy. Broadly speaking, 5G is being used in three main types of connectivity services, including enhanced mobile broadband, mission-critical communications, and IoT at scale. The key feature of 5G is that it is designed for forward compatibility, the ability to flexibly support future services that are currently unknown.