©2019 Ralf Llanasas, Whatphone
5G and the International Rollout
The highly anticipated fifth generation of wireless network technology is finally a reality in countries around the world. Statistics predict that 5G networks will be full in use by 2020, with over 1 billion users connected to the technology by 2025.
Ericsson predict 5G subscriptions will reach 1.9 billion, with coverage spanning 65% of the world’s population, by 2024. Right now, according to Ookla, 20 network operators have provided the technology across 294 locations in continents including the Americas and Australia 5G is a global phenomenon that will quickly change the way most industries operate.
The International Event Industry
Globally, the events industry is thriving. It is was valued at $1,100 billion in 2018 by Allied Market Research and is expected to grow at a Common Annual Growth Rate (CAGR) of 10.3%, reaching $2,330 billion by 2026.
IMEX and The Meeting Professionals International (MPI) Foundation place the worth of the global event industry at $1 trillion. This figure reflects direct expenditure in relation to planning and hosting events including:
At these figures, the event sector ranks closely to that of consumer electronics in terms of scope and size.
How Will 5G Revolutionize the Event Industry
It’s likely, that within a small number of years, even the most basic prepaid plans will enable the right phones to connect at breakneck speeds.5G will support the technology that will radically change most industries as we know them, and of course, the event industry is no exception. There are numerous benefits from this latest upgrade to mobile networks, some of which include:
- Lightning fast speeds
- Lower latency
- Increased bandwidth
- Increased network coverage
These improvements on the current 4G networks support the development of improved technology and new innovation that will help the events industry to take a large leap forward. Here are some of the areas that will benefit from 5G technology.
A Greater Propensity for Live Streaming
5G networks are expected to work at lightning speed – in fact, 5G networks could run up to 1,000 times faster than current 4G/LTE networks. For the event industry, where live streaming has become a necessity, this will mean improved streaming services and new ways to provide streamed events to remote audiences.
Currently, events that offer live streaming are able to increase their audience and include groups that would be otherwise unable to attend. Live streaming is now available on all major social media platforms alongside many other event media platforms. 5G networks will offer live-streaming processes that will be far more seamless. With the advent of this network, there are greater possibilities of including technologies such as AR (Augmented Reality) and VR (Virtual Reality).
Increased Opportunities for Event Attendees
The safety of attendees at any event is an integral aspect of any event. 5G networks will support an increased connectivity between security personnel, ensuring effective communication in the state of an emergency. Devices can be optimized to analyze security threats easier and faster, and then security personnel can be quickly dispatched to deal with any issues. Attendees will also have quicker, more reliable options to call for help if necessary.
5G will be particularly helpful in any areas that require collection and analysis of large amounts of data. Security can be supported by this kind of high-level data collection, and the ability to respond quickly and communicate efficiently will help assist with keeping event
Event Planning with 5G
The internet is quickly becoming inseparable from all aspects of event planning, such as data collection, live-streaming, communication, security, and countless other areas. Having a network that is accessible, reliable and extremely fast will help support the current technologies and processes that help make events stand out, and will drive innovation with new and exciting ideas for the events of the future.
5G looks set to transform the world as we know it, and the latest network will help the event planning industry to take the next leap forward into new and exciting avenues that will revolutionize the current way we plan events.
Ralf Llanasas is Content Marketing Lead at WhatPhone, a phone plan comparison site that explores and explains the technical jargon in easy-to-understand terms. We examine the trends in the industry and offer real advice about mobile phone plans and technology that best fit individual needs, giving our readers all the facts so they can make informed choices.