In 2020, 5G will pick up some major steam as it barrels its way into our everyday lives. A brand new 5G wireless network is expected to go live by the end of 2020. This update will provide users with faster and more reliable cell phone service. I’m talking speeds up to 100 times faster than today’s 4G networks.
While some 5G services have already been rolled out in certain cities, 5G’s potential hasn’t even hit its peak. 5G apps are emerging and some smartphone companies have already released 5G-compatible phones.
According to a report by ABI Research, a technology market advisory company, global sales of 5G smartphones are forecasted to reach around 170 million units by 2021 compared to the estimated 12 million in 2019. Additionally, over that same period, sales of non-smartphone 5G network devices are expected to reach 10 million units from 2019’s 2 million.
Last week, Samsung announced that between the Galaxy S10 5G and the Galaxy Note10+ 5G, it had sold 6.7 million 5G phones in 2019. These sales numbers were better than the company had imagined, with Samsung only expecting to sell 4 million in total by the end of 2019.
That means Samsung’s devices have claimed 53.9% of the global 5G marketplace. Consumers who were able to purchase a 5G smartphone in 2019 set themselves up for 2020.
Samsung isn’t the only smartphone company that has an eye on the 5G market. Apple is expected to launch its 5G phones this year during its annual product launch event in September. And this year won’t just see significant changes to smartphones.
Where Could 5G Go Next?
As I mentioned earlier, at the moment, access to 5G is limited, only available to certain locations in the U.S., U.K., Australia, Korea, and China. However, that’s all expected to change in 2020, with an anticipated wider rollout to Japan, South America, some countries in Europe, and Southeast Asia.
In addition to the spread of 5G technology, we expect devices to become more affordable. In 2019, the price tag for a 5G smartphone was high — around $1,000. As more 5G phones hit the market, we’ll see lower price tags. Over the next few years, we can expect more innovations and technologies thanks to 5G.
Elizabeth Hackenson, CIO at Schneider Electric SE in France, had this to say about emerging technologies like 5G:
Emerging technologies are just that. They are new and companies embrace them earlier than others, depending upon problems they are trying to solve.
She also mentioned that 5G will gain more traction when network providers expand their geographic footprints, making mobile speeds and bandwidth cheaper and more accessible.
Yes, there are some growing pains, but they will pave the way for some really incredible technological advancements.
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What kinds of advancements, you ask? Well, 5G will give cities the infrastructure to transform into “smart cities” — the ability for a city to be connected to one network. Traffic lights could be better synchronized to alleviate traffic congestio, making your commute a lot less stressful.
5G could grow the telemedicine market even larger than it’s already become. I’m talking about taking this market from $2 billion to over $379 billion. Doctors would be able to connect to and save millions of lives around the world. The advances won’t stop there, either.
The next generation of wireless is set to completely revolutionize virtual reality, growing a $7.9 billion market to over $120 billion. Virtual reality and augmented reality have made strides in the past few years but is limited by slow internet speeds and lower latency. This will change with 5G.
It’s also estimated to add $3.5 trillion to the U.S. economy.
These are just a few reasons why you should be paying attention to 5G and staying informed as it comes to prominence. If you’re reading this now, you have the chance to use one of the biggest revolutions in technology to enrich your life — and your wallet. Let 2020 be the year that you take advantage of this rare opportunity.
You know that 5G is set to soar and bring a plethora of benefits along with it, so why not reap those benefits?
This could be your year, the year you start investing in 5G. Don’t know where to start or want to get more information? That’s okay! Begin your 5G journey here.
Until next time,
Monica Savaglia
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.
