China is all set to commence the rollout of 5G network commercially, and it is being said that in 2020, 5G will be finally available in the market. As per analysts, 5G revenues will be going up to $672 billion by the end of 2020. According to GSMA, 5G connections will be reaching 1.2 billion by 2025, thus making up 14% of the complete number of connections at the time.
Huawei Technologies has said that 5G could ‘support connections for at least 100 billion devices and 10 Gigabits per second (Gb/s) individual user experience capability of extremely low-latency and response times.’ Huawei is making the most advanced 5G technology at the moment and claims that its technology is about eighteen months ahead of any other 5G manufacturer.
China is a strong player in terms of 5G-based value creation in the short run and the long game as well. Since 2013, the Chinese Ministry of Industry and Information Technology, the National Development Reform Commission, and the Ministry of Science and Technology have been steering 5G development in the form of three phases via the IMT-2020 5G Promotion Group. The three phases include key technology testing, technology verification, and 5G system verification.
At the 5G and the Intelligent Life panel discussion during the CES Asia 2019, the members of the panel talked about plans for 5G applications in Shanghai. It was said, ‘In terms of industrial value, we want to reach 100 billion applications for 5G. Now we have 100 applications across different industries.’ China has already granted 5G licenses for commercial use, thus becoming the leader in the world’s telecommunications industry. 5G is expected to create more than $154 trillion worth of economic output while also generating more than three million jobs between 2020 & 2025.
China is welcoming all enterprises for participating in the 5G network application and building, thus making it interest and concern of everyone. 5G network is expected to have a significant impact on the digital society, and 5G is getting a head start in Asia. According to GSMA, China will be representing 40% of the 5G global connections by the end of 2025. The Hongkou District in Shanghai will enjoy the very first 5G coverage and speeds that are 100 times faster as opposed to 4G LTE.
Steve Koenig is the Vice-President of Market Research at Consumer Technology Association (CTA) and while giving his presentation at CES Asia 2019 in Shanghai said, ‘5G technology is a key ingredient. Eventually, it’s going to underpan the global economy. 5G has greater capacity and lower latency. Every sector will be impacted by 5G in some way.’ He further added, ‘5G is going to create new partnerships that were not possible before. One difference from 4G is that the fifth wireless generation network is going to be led by the enterprise.’