Online Shopping Expansion Predicted in Wake of 5G Networking Arrival
04 April 2019 - 11:38 by Graham Miller
More British consumers will carry out safe shopping online from their smartphones once faster 5G mobile coverage is launched, according to a new study conducted by Barclays.
Analysts expect that 5G will add £15.7 billion in economic value each year within the next half decade, predominantly as a result in the rise of e-commerce activity that will be stimulated in the wake of the rollout.
This prediction is based on the idea that 5G will be made available nationally as quickly as possible, with experts warning that if there is any major hold-up to this process then the economic contribution will be effectively halved.
The current 4G technology that millions of Brits rely upon to surf the web while they are on the move using their portable devices was not especially quick to arrive in certain parts of the country. This poses the possibility that a similarly staggered launch for 5G will occur, with major investment from network providers required to overcome this speed bump.
A billion pounds of public cash has been committed to bolstering the nation’s network connectivity by the government, with providers already having been given the opportunity to bid for their slice of the spectrum so that 5G can be offered to customers in the near future.
In terms of connection speed, there are lots of variable factors which will impact just how fast this new form of networking will be in real-world conditions. However, in theory it could be twenty times quicker than last-generation technology and be capable of supporting up to a million users within a given square kilometre of coverage, according to Internet Retailing.
If e-commerce gets a boost thanks to 5G’s introduction, then there will be many other industries that feel the knock-on benefits as well.