5G The Race Around The Globe – Who Currently Dominate The Market?

The global race to deploy 5G technology is on! The United States has dominated the market in the past, but in the past few years we have seen the rise of other countries on the top of the market. It looks like they are still in the top three countries on the global stage but not in the first position.

Based on study that was just released, the United States is ranking third in the world, just behind China and South Korea. With the standardization in Asia, Japan, China and South Korea have aligned themselves to successfully deploy the 5G in their markets.

Every country around the world have made significant progress toward the modernization of their technologies and infrastructures. The United States needs to improve their competitiveness in those sectors.

With the 5G soon to be implemented across the globe, the speed is hundred time faster than our current network, that will provide virtual reality platforms, sophisticated health applications, the development of Smart Cities, Internet of Things (IoT) technology and much more. It is opening the door to new technologies.

With such potential promises to deliver great benefits to American consumers. It is forecasted the 5G could add $500 billion to our GDP and create 3,000,000 new jobs. With the implementation of the 5G in the United States it could generate $1.2 trillion in additional consumer benefits.

A Decade ago the United states implemented its 4G networks faster and further than any other countries. This edge helped to increase the economy including boosting the GDP by $100 billion and an 84 percent surge in wireless related jobs. The United States wireless industry supports over 4.7 million jobs and add a yearly $475 billion to the economy.

The implementation of the 5G across the U.S will face some hurdles from states and local regulatory. With inconsistent rules it could be difficult to deploy the 5G effectively. Regulation should be harmonized across the nation; a dozen of states has started to reduce barriers to 5G technology. Many similar legislations have been introduced to local jurisdictions.

How the United States is going to close the gap to surpass China?
To be continued