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Research Outline
Prepared for Aisling O. | Delivered May 5, 2020
5G
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Goals
Provide insights and data on the following areas: Global View of 5G Readiness Per Market, Consumer Trends Leading to 5G Creation, IoT Growth, Augmented and Virtual Reality, and 5G as a Driver of Economic Growth.
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Early Findings
Global View of 5G Readiness Per Market
South Korea
is leading the 5G market penetration, with 66% of South Korea expected to be 5G connected by 2025. This is followed by the US at 50%, Japan at 49%, China at 36%, Europe at 30%, Mexico at 14%, India at 11% and Brazil at 11%.
Consumer Trends Leading to 5G Creation
A consumer
desire for connectivity
is driving the growth of the 5G sector.
For example,
67%
of consumers indicate they would purchase a new smartphone when 5G connectivity becomes possible. Additionally,
62%
of consumers would replace their home internet service for 5G when it becomes available, in order to take advantage of the faster speeds.
IoT Growth
In 2014, only
13%
of businesses used IoT, whereas by 2019, that had increased to 25%.
By 2023, McKinsey predicts there will be
43 billion IoT
connected devices worldwide, a nearly threefold increase from 2018.
Augmented and Virtual Reality
In 2017, the global augmented and virtual reality market size was
$11.35 billion.
This market was projected to be "
$571.42 billion
by 2025, growing at a CAGR of 63.3% from 2018 to 2025."
5G as a Driver of Economic Growth
China is expected to see the most
economic returns
from the 5G expansion, followed by the US and Japan.
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