Spending on 5G network infrastructure is expected to jump from $528 million in 2018 to $26 billion in 2022 good for a compound annual growth rate of 118 percent, according to IDC.
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IDC's inaugural 5G network infrastructure forecast highlights the network boom that 5G will bring. Wireless carriers ranging from Verizon to AT&T to T-Mobile have aggressive 5G build out plans. For businesses, 5G is expected to give a boost to edge computing and make Internet of things devices more intelligence.
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"2019 is set to be a seminal year in the mobile industry," noted IC" "5G handsets will begin to hit the market and end users will be able to experience 5G firsthand."
IDC also noted that the mobile industry is trialing network virtualization, machine learning and artificial intelligence to leverage new spectrum and create value from existing services. The 5G NR standards will enable faster speeds in cities, but the full potential won't come until there are more standards.
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The forecast also assumes the communications service providers will invest in 5G gear as well as related technologies. IDC's forecast will be a boon for players such as Ericsson and Nokia and Samsung is also betting that 5G will make it an infrastructure player too.