On Monday, Ian King told you why mobile giants AT&T, T-Mobile and Verizon are investing billions to get their 5G signal straight into customers’ homes.
5G is a massive trend, after all.
The global market is set to reach $667 billion by 2026 — a whopping compound annual growth rate of 122% from 2021 to 2026.
And as that market grows, it’s set to disrupt far more than just broadband networks.
At Smart Profits Daily, we think it’s vital for you to understand this technological shift. So today, I’m going to highlight a few ways that the coming 5G revolution will make your life better.
Virtual reality (VR): With a 5G VR headset, you can experience your favorite artists performing or sporting events live as if you’re really there. You can also broadcast your own experiences live for other people to view in full virtual reality. Plus, there are unlimited possibilities for gaming, movies and TV shows.
The VR market is expected to grow 27.9% a year, reaching $20.9 billion by 2025, according to Markets and Markets.
Health monitoring: 5G enables wireless monitoring devices for diseases such as diabetes. These devices can upload your health statistics to the cloud, as well as alert your doctor or a nearby hospital if you have an urgent health problem.
The market for health monitoring devices is expected to grow 13.8% a year, reaching $110 billion by 2025, according to Market Research Future.
(Source: IEEE Communications Magazine)
Ultra-high resolution video: 5G’s greatly improved connection speeds make it possible to stream video, including VR, in 8K resolution. That’s four times higher quality than 4K TV. It also lets you download high-resolution videos to your smartphone in seconds.
The market for 8K TVs and displays is expected to grow 32.9% a year, reaching $16 billion by 2025, according to Mordor Intelligence.
Samsung has already announced a partnership with SK Telecom to begin work on 5G-powered 8K TVs, as shown in the photo below:
(Source: SK Telecom)
Augmented reality (AR) shopping: With AR and 5G, you can see how new furniture would look in your home before you buy it. You can also use AR to see how clothes would look on your body, which is awesome for online shopping. Some online retailers such as Amazon.com and Wayfair already offer similar options, but 5G will make this technology much better.
The AR market is expected to grow 74.9% a year, reaching $100 billion by 2024, according to Grand View Research.
Smart homes: With 5G, every appliance in your home can be connected to the internet and to each other. Everything from the lights to the temperature can be controlled with the sound of your voice. That includes devices such as smart refrigerators that track expiration dates and help you complete your shopping list. Some tech companies are even working on 5G robots that cook meals and mix drinks.
The global smart home market is expected to grow 11.6% a year, reaching $135.3 billion by 2025, according to Markets and Markets.
(Source: Internet of Business)
As you can see, there are already many uses for 5G in the works.
Once access to 5G becomes much more widespread across America and the rest of the world, innovative companies will find amazing new ways to take advantage of 5G’s superfast connection speeds.
In fact, 5G has the potential to disrupt every single industry. That’s why it’s incredibly important that investors pay attention to these kinds of huge technological shifts.
Assistant Managing Editor, Banyan Hill Publishing