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82% of IT leaders plan to adopt 5G in the next 6 – 12 months
August 2020 by Atlas VPN
5G is the newest and most advanced mobile network meant to provide ten times faster internet speed compared to 4G technology as well as drastically improve the connectivity between the IoT devices.
The study reveals that as many as 53% of the CIOs and CISOs plan to adopt 5G in the 6 months. Also, 14% of respondents believe that 5G adoption will cause increased spending on security and control systems.
Nearly a third of the respondents - 29%, state that they will be adopting a 5G network in their company within the next 12 months.
However, 17% of IT leaders said that they have no plans to implement 5G in the next 12 months.
Worth noting - industries are turning towards 5G at different paces. The fastest adopter seems to be healthcare services. Over 93% of healthcare providers state that they will adopt 5G in the next 12 months.
The reason being, 5G communication will be ultra-reliable with no connection-loss and will be very useful for critical services in the healthcare industry.
For example, remote robotic surgery could improve drastically. Procedures like these require high-definition video streaming, low latency, and massive bandwidth, which 5G provides.
Similarly, over 77% of financial firms representatives said that they would adopt 5G in the next 12 months. Financial institutions are eager to adopt 5G as it will create new possibilities to store and protect value, move money, and access credit. The outstanding 5G connection speed will improve every-day transactions and investment trading.
Not only that, but 5G is also expected to provide increased security for financial and other institutions. With more data coming through due to faster networks, fraud prevention systems will be able to detect fraudulent transactions more quickly.
The data is based on a survey by VMware Carbon Black, which questioned representatives from 250 North American companies operating across different industries including but not limited to finance, healthcare, and government. The research takes into account data from March 2019 up to March 2020.
3.23 billion 5G connections by 2025
The adoption of 5G is estimated to rocket in the next five years. Estimations reveal that by 2025, 5G connections will reach 3.23 billion globally. Meaning, the average year-by-year growth is forecasted to be around 97%.
The research forecasts that the 5G network connections will reach 570 million by next year, which is a 256% growth from 2020.
As soon as in 2022, the number of 5G connections is forecasted to breach the 1 billion mark. Researchers predict that by the end of 2022, there will be over 1.22 billion 5G connections globally.
The 5G adoption is set to keep growing at a fast pace, and in 2025, it will reach an astounding 3.23 billion connections. In other words, from 2020 to 2025, the 5G connections will grow by a staggering 1919%.
The estimations are provided by market research experts - CSS INSIGHT.
China is in the lead
The largest adopter of 5G is expected to be China. China is on track to reach almost 100 million 5G connections in 2020 and to breach the 1 billion mark in 2024. So far this year, 4 in 10 mobile phones purchased in China have 5G connection enabled.
China continues its network deployment and is set to construct over 1 million 5G base stations until the end of the year.
Although the 5th generation network is comparatively new, it is one of the fastest-growing technology markets not only in China but worldwide. The 5G technology industry is estimated to reach $5.53 billion by the end of 2020 and $667.90 billion by 2026.
As a final note, even though the COVID-19 pandemic will slow down the 5G adoption in the short-term, the long-term outlook still looks promising.
