Faster than existing LTE networks
Connections in 2023
Addressable revenue by 2026
The arrival of 5G is widely hailed as a true revolution in mobile technology, enabling myriad new smart solutions and connected services which would previously have seemed implausible. Unprecedented advances in data speeds and network capabilities are already enabling businesses to make wholesale operational efficiencies and create rich, new customer experiences – but the best is yet to come. In homes, shopping malls, stadia, industrial parks, offices and beyond, 5G is set to genuinely transform everyday life.
5G’s enhanced mobile broadband enables download speeds of 1Gb per second today – 10 times faster than current LTE-A networks – and that is forecast to rise to 100 times faster over 5G’s lifetime. In practical terms this means near-instant retrieval of large amounts of data, making it possible for instance for industry to modernize facilities by deploying high-resolution cameras with real-time video analytics, allowing them to monitor and understand almost every facet of their business, driving efficiency and innovation.
Capabilities such as network slicing allow sectors with widely divergent needs to occupy their own individual corners of cutting edge cellular networks, ensuring service delivery at the highest level without interruption. Consequently, for example, smart vehicles will be able to support ultra-reliable connectivity for mission-critical on-board services such as safety telematics, while keeping passengers entertained with the latest streaming multimedia.
Given its potential to transform so much, 5G is forecast for massive expansion, with connections set to grow from roughly 10 million in 2019 to 1.01 billion in 2023. As 5G develops the commercial opportunities for those placed to draw on them will be truly vast: by 2026, the addressable 5G revenue opportunity beyond connectivity provision is forecast to reach as much as $619 billion worldwide.
Quectel can help organizations of all kinds become 5G-ready with our range of durable, secure and high-performance modules that provide the crucial link between device and network. Our global R&D department (which spreads across three continents) ensures our modules can meet the full range of 5G applications, and our dedication to customer care means we’re on hand to help your business with any technical questions you may have once you’re on board. If you need help finding the solution that’s right for you, we’re here to help.