— This is the script of CNBC's news report for China's CCTV on October 22, 2019, Tuesday.
From the fist half of this year, some countries announced to initial their 5G commercial plan, now 5G is becoming more and more close to our life, mass production of 5G-enabled smartphones is expected to begin in the first half of next year, putting the seemingly distant technology within reach.
Global 5G users will reach 1.9 billion by 2024, according to Ericsson
In terms of specific commercial applications, the reporter has just introduced us the application scenarios of 5G in agriculture, video media and remote driving.
Apart from that, there are also some experimental applications in smart ports and mobile medicine and they will soon be commercially available, In terms of industry,5G technology will bring great changes to five industries, including TV and media, manufacturing, healthcare, telecommunications, transportation and infrastructure. According to industry data from Valuates Reports, the global 5G market was worth about $43 billion last year and is expected to grow exponentially in the coming years, with a compound annual growth rate of 56.7% from 2018 to 2025. Japan's Fuji research institute predicts that the market for 5G-related gadgets such as surveillance cameras and drones alone will exceed $241 billion by 2023, Based on the optimistic expectation of 5G market, many countries around the world are actively planning 5G.The Singapore government recently announced that it has started inviting bids for 5G licenses, with the goal of launching 5G networks in the second half of next year, Malaysia has also said it will start testing 5G this month. Intel is still ramping up its 5G footprint, recently buying a Canadian technology company for $27 million, to meet rising demand, Japan's Sumitomo electric industries plans to invest $184 million next year to expand capacity for 5G related components.
After this year's fast development, 5G is expected to further show great business opportunities next year.
Chander Prakash Gurnani/C.P. GURNANI CEO, TECH MAHINDRA
5G by itself is a huge opportunity, and I would still say it is an opportunity for 2020... in 2020 you will see a fair amount of velocity and momentum