Even amid the pandemic, 5G continued to expand in 2020 and is predicted to become mainstream in 2021. In the new "remote" economy, the continued advance of 5G is critical to be able to support the increasing burden on the data networks. The technology, which boasts anywhere from 10 to 100 times the speed of 4G and much more rapid responsiveness, could improve everything from simple video conferencing to telemedicine and advanced augmented and virtual reality.

Wi-Fi cannot scale to meet higher capacity demands. 5G networks would resolve this lack of network reliability and even allow for more high-capacity services. Businesses can offset the high cost of mobility with economy-boosting activities including smart factories, realtime monitoring, self-driving bots, and others that we cannot yet imagine today.

The epicentre of investment in the nextgeneration technology is now in China, but North America is catching up, where 75% of people will have subscribed to 5G services by the end of 2025. In 2021, 60% of all phones sold in Western Europe and North America are expected to support 5G, growing to 85% in 2024.

Major Canadian and European carriers have launched 5G, but the pandemic has raised questions about how fast their networks can expand. The European Commission’s 5G Action Plan aimed to launch 5G services in all member states by the end of 2020 (and ensure uninterrupted 5G coverage in urban areas and along main transport paths by 2025). However, 5G spectrum auctions have been delayed in parts of the EU because of the pandemic.

Cyprus started its auction for 5G broadband in December 2020, with four providers taking part: Cyta, Primetel, epic, and Cablenet, all bidding for an equal number of platforms. Authorised networks will have to provide 5G services to 70% of Cyprus population until the end of 2025. The opening price for a platform is set at €6 million, and the licences are given for 20 years.

To be continued

Sources: forbes.com, hrtrendinstitute.com, gtm-plus.com, cyprus-mail.com, bloombergquint.com, financialmirror.com, finch.com, nnip.com, unctad.org, oecd-ilibrary.org, globalwebindex.com, contactpigeon.com, virtualreality-news.net, eiu.com, statcdn.com, ec.europa.eu, www3.weforum.org, www.pwc.com.cy, zdnet.com, financesonline.com, rise.org.cy, dgepcd.gov.cy, bbc.com, enterprisesurveys.org, classeditori.it