If you think there was a lot of talk about 5G in 2020, just wait until 2021.
The next year is going to be marked by changes brought on by the pandemic. As we come out on the other side of this thing, a lot will change in a number of different sectors.
Technology, in particular, is going to enjoy a boom. Thanks to things like digital learning, remote working, and a wider range of streaming entertainment options, tech stocks are poised to soar. But that’s only scratching the surface.
In response to an increased awareness in public health, health care stocks will see a new marriage with technology that will also help them thrive throughout 2021. It’s already happening thanks to companies working on solutions to dealing with COVID-19.
5G technology factors into this in that it touches everything. This next-generation technology standard is going to finally start living up to the hype that’s been around for years. Its time in the mainstream spotlight is right around the corner, and that creates all kinds of opportunity for investors.
The Ways 5G Will Change the World
There are a number of different ways that 5G is set to play an integral role in 2021, with communications technology set to be one of the most visible areas.
It makes senses, too, because when it comes to 5G, you’ve probably heard of it in the context of cellphones. Device manufacturers like Samsung and Apple touted 5G with their flagship products, and countries began building infrastructure to support those devices. While most people don’t have a phone capable of 5G now, that’s going to change over the next few years. That means more network infrastructure, more models coming out, and more focus on creating applications that will make full use of the technology.
Over time, as 5G becomes more common, we will see the benefits translate to areas of everyday life set to become the norm. Think about things like telemedicine and teleconferencing. These areas will benefit immensely from 5G speeds. So will things like streaming and online gaming.
According to a recent report from telecom company Ericsson, 5G will cover about 60% of the global population by 2026. That increased coverage, paired with more affordable devices, will help speed along the transition to the new standard.
If you move beyond communications, the technology will affect other areas like automation, health care, and retail. Robots used in manufacturing would be able to share and process data faster, thanks to 5G. This would make it so that manufacturing is more versatile, more efficient, and ultimately more profitable.
Another area set to benefit from 5G is banking. The increasing number of people taking care of their banking needs primarily through phones will benefit from better-functioning apps. Banks themselves will be able to process complex actions faster. Think about things like verifying a customer’s ID for approving a loan or setting up an account and you’ll see just some of the ways that the financial sector will benefit from the implementation of 5G.
As mentioned, health care is another area set to transform under 5G. Telemedicine will be one way that happens, but increased speeds will also mean large data files like images can be transported more easily. This will improve the speed at which patients receive care and also broaden their options for receiving care in the first place. The technology will also allow doctors to gather data in real time to better personalize a patient’s care. This can be done through wearable devices, which are sometimes limited by network capacity. Through 5G, that won’t be the issue that it is today.
This is just the start of it. Over the next year, we will likely see more innovations when it comes to what 5G’s capabilities. Once the technology becomes more widely adopted, the world will see just what the hype was all about.
Investing in the Future
Looking back at 2020, it’s easy to understand why many see 2021 as a year of hope. While no one can say for sure what the next 12 months will look like, the trends at least point to 5G technology finally taking off.
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Because of all of the things 5G will make possible, it’s practically going to become a necessity over the next year.
If you act now, you can position yourself to profit as more of the world adopts this new technology in 2021 and beyond.
