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High appeal for online streaming of activities, social media, games, online payments has hiked mobile internet and global mobile payment market into leisure than a necessity. Our mobile world has driven a lot in the term of engaging data and is estimated to rise even more.  As ultra- fast connectivity around the world increases; we need networks compatible with the new evolving technologies like automotive cars, constructive reality, the internet of things and 5G is promising to take the level of technology to a new level and keep them connected in any challenging situation.

NGMN (The next generation mobile network) has aspired to launch 5G at 20Gbps speed and at 1-millisecond dormancy. If this is achieved the downloading speed will hike 40 times faster than the 4Gnetwork. You will download, play games online and do mobile and online payment in fractions of seconds. Uploading something to the online or to the cloud will be like storing files locally.

5G network is going to be a boon while creating smart cities as it aims to provide millions of connections per square kilometer. It will also connect to low-power smart devices from traffic lights to wearable. 5G will also be a part of transferring TV shows effectively from one to another device. The mobile payments and banking market are estimated to get a hike as it is going to be just a click away.

The requirement for the 5G technology includes advancement in ICT infrastructural environment. A type of encoding OFD, new frequencies will be updated to the network to hold more data and travel through small cells networks like WI-FI routers, this will turn down the need of big towers making the whole network sturdier.

AT&T announced to commence their 5G mobile network testing on 100 times higher speed than any other connection. The US telecom group have collaborated with the US semiconductor Intel and Swedish networking group to start their field tests. By 2020 the telecom operators are anticipated to commence its field tests. But some have appeared to be ahead of the schedule. Extravagant emerging like virtual reality, robotics, smart cities, self-driving cars are about to experience a new level of networks. These technologies will be responsive, mesmeric to the customers. These trials will set the guidelines for the technology standards of 5G and also contribute towards the widespread commercial and mobile opportunities. US rival Verizon has announced their 5G testing plans. ITU (International telecommunication union) a UN agency known for its interconnection among the world carriers and the countries among them have sanctioned a precise plan for the standards of 5G.

5G network is expected to affect one’s business in many aspects. The online payment system has to be given a wider acceptance. New gadgets that support 5G networks would be essential, global market would be more easily accessible with higher connectivity, Benefits of worldwide standardized coverage with increased satellite technology and much more.

Read the full report on global mobile payment market here: https://www.inkwoodresearch.com/reports/global-mobile-payment-market-forecast-2017-2024/


Komal Surana

Author: Komal Surana

Sr. Content Writer and Editor, Inkwood Research

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