5G has become the buzzword in the digital era. The rising demand for ultra-reliable and low-latency data networks for enhanced connectivity is driving the growth of the 5G network. Moreover, with most organizations sticking to remote working, the industry is expected to thrive. Kirti Gupta, VP of economic strategy at Qualcomm Inc., stated that 5G is, “the fundamental infrastructure driving the future connected world.”
According to Ericsson’s latest Mobility Report, 5G is expected to account for nearly half of global mobile subscriptions by 2027. Moreover, the global 5G services market is expected to grow at a CAGR of 46.2% to reach $664.75 billion by 2028. Private players are investing significantly in the deployment and commercialization of 5G solutions. In addition, President Biden’s infrastructure bill, which was signed into law in November 2021, allocates $65 billion to improve broadband internet accessibility and affordability across the lower-income groups.
