Whoever wins the 5g contest will set up their country for years to come with billions of dollars in new revenue and millions of potential new jobs.
The advancement of technology continues to march on. 5g will prove to be the next big step. It will have a huge impact on business around the world. Whichever county cracks the code and gets its 5g up and running will probably be the host for most of the major tech companies along with their money and job opportunities.
There are numerous advantages of 5g over 4g. 5g connectivity has the potential to support 1,000 more devices per meter than current 4g. This means that many more wireless devices can hook up to the same network in the same area.
Also, slowdowns caused by buildings, mountains, and large crowds will no longer be an issue. Ever been at a concert and couldn't live stream the band? This won't happen with 5g. The stronger signal will help reduce external hindrances.
Why is it necessary?
A big problem that will soon face the world is the growing number of wireless devices requiring an internet connection. Termed "the internet of things," it encompasses everything from refrigerators to smart speakers to cars. With all of these new devices competing with current cellphones, tablets, and smart watches, the bandwidth will get pretty crowded.
5g can help alleviate this problem by supporting thousands of new devices. The science fiction future of your fridge talking to your car reminding you to pick up milk at the store will soon be a reality.
Increased connectivity will create a desire for more connected devices. This opens the door for new companies to form that will develop this technology. Whoever best fills the new needs of consumers will win the day.
Also, with more devices available, businesses will have to learn how to best relate to their customers. If a toaster can answer a question better than your customer service department, then you will have a problem. Figure out how best to utilize the widely expanded 5g if you want to succeed in the near future.
Ethan Hausmann is currently the Vice President of Marketing and Community Outreach for Successtar Enterprises LLC. He is an author, professional speaker, and seminar/workshop instructor. Ethan has extensive knowledge and experience in marketing, customer service, leadership, and other small business related concerns.