In this article, we will take a look at where 5G technology is most advanced. If you want to learn about more countries, go straight to 15 most advanced countries in 5G technology.
Global 5G Surge: Market Leaders, Economic Impact and Future Outlook
According to the survey results, the global 5G services market size was valued at around US$101.04 billion in 2022 and is expected to reach US$897.98 billion by 2032, growing at a CAGR of 24.4% during the forecast period 2022-2032. South Korea and the United States are among the pioneers in 5G deployment, with South Korea boasting the highest download speeds in the world, averaging 129.7 Mbps at the end of 2021.
In Europe, countries such as Finland, Switzerland, the United Kingdom and the United Arab Emirates have seen significant improvements in download speeds due to the availability of extensive new 5G spectrum. However, markets where 5G arrived later or where wireless spectrum capacity for 5G-only use is limited, such as Malaysia, New Zealand, the Czech Republic and Singapore, have fallen behind in download speed rankings. .
5G is poised to revolutionize the healthcare industry, enabling advanced applications such as remote surgery, telemedicine and real-time health monitoring. According to PwC analysis, healthcare applications could contribute $530 billion to global GDP by 2030, making it the largest sector to benefit from 5G. According to PwC analysis, the cumulative impact of 5G in these sectors could reach $1.3 trillion in global GDP by 2030. Similarly, an Oxford Economics report commissioned by Qualcomm concluded that 5G integration using mmWave spectrum It has the potential to increase global productivity by 1.7%. of global GDP in 2030, equivalent to 10% of global GDP growth in this period.
US 5G Market Growth: Verizon, AT&T and T-Mobile Lead the Charge Toward a $385 Billion Future
The United States has been at the forefront of 5G deployment, with major telecom operators like Verizon Communications Inc. (NYSE:VZ), AT&T Inc. in charge. According to the survey results, the US 5G technology market is expected to reach a substantial value of US$385.1 billion by 2033, with absolute dollar growth of US$378.9 billion.
Verizon Communications Inc.’s (NYSE:VZ) wireless division, Verizon Wireless, is one of largest mobile phone operators in the United States. The company has invested heavily in building and maintaining a robust national network, offering 4G LTE and 5G coverage to millions of customers across the country. As of the first quarter of 2024, Verizon’s 5G Ultra-Wideband network covers more than 95 million people in the United States. The company has also been expanding its 5G Home Internet service, which provides high-speed broadband Internet access to homes using 5G technology. In the first quarter of 2024, Verizon Communications Inc. (NYSE:VZ) reported its best ever quarterly result for fixed wireless network additions, with 151,000 new subscribers. In Q1 2024, the company reported a modest 0.2% year-over-year increase in total revenue, reaching approximately $33 billion. Despite revenue growth, Verizon’s adjusted earnings per share (EPS) decreased slightly to $1.15 in the first quarter of 2024, compared to $1.20 in the same quarter last year
Likewise, AT&T Inc. (NYSE:T) is a leading telecommunications company in the United States. AT&T was the first US company to introduce standards-based 5G mobile service in parts of 12 cities in December 2018, including Atlanta, Dallas, Houston and San Antonio. Since then, the company has expanded its 5G footprint, reaching 200 million people with faster mid-band 5G by 2023. Additionally, AT&T Inc. (NYSE:T) has partnered with organizations like the Lawrence J. Ellison Institute to explore the potential of 5G and edge computing. in areas such as 3D tumor imaging and personalized patient experiences. AT&T has surpassed 20 million fiber Internet locations and plans to reach 30 million by 2025. The company reported revenues of $30.0 billion in the first quarter of 2024, a decline of 0.4% year over year.
Lastly, T-Mobile US, Inc. (NASDAQ:TMUS) has the stronger 5G signals. T-Mobile’s low-band 5G network offers broad coverage, reaching more than 330 million people or 98% of the US population. Offers faster speeds than 4G LTE and better penetration indoors. (NASDAQ:TMUS) added 1.8 million total net customer adds in Q3 2023, including 1.1 million postpaid net customer adds. In the first quarter of 2034, they reported net income of $2.4 billion, a 22% year-over-year increase.
A professional technician who uses specialized tools to maintain a modern 5G cell tower.
Our Methodology
For our methodology, we classify the countries most advanced in 5G technology based on 5G availability in these countries in 2023. For data accuracy, we rely on Opensignal Limited.
Note that the criterion of this article is to show how practically advanced countries are in implementing 5G technology. Does not consider R&D in 5G technology.
The most advanced country in 5G technology
1. Puerto Rico
5G availability: 48.4%
Puerto Rico tops the list for being the most advanced place in 5G technology, even if it is not a country in the traditional sense.. In February 2024, T-Mobile announced the expansion of its 5G home internet service to Puerto Rico, offering customers high-speed internet access through its 5G network. The service is available for $50 per month with AutoPay and a qualified voice line, with no additional taxes, monthly fees or equipment costs. To further encourage adoption, T-Mobile is offering a worry-free 15-day trial and will pay up to $750 to cover any early termination fees from other Internet service providers.
If you’re curious to know which other countries hold the title of most advanced in 5G technology, check out our full list at 15 most advanced countries in 5G technology.
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Disclosure. None: O 15 most advanced countries in 5G technology was originally published on Insider Monkey.
