China beats U.S. and ready to launch 5G technology. The global race to own 5G technology is on and it seems China is winning. It is according to a report released Monday by CTIA, a trade association for the U.S. wireless industry.
According to the report South Korea is second, while the United States ranks third. Around the world, mobile carriers are rushing to adopt 5G networks. And it will ultimately be used to power self-driving cars, virtual reality and smart cities.
Whichever country gets 5G networks up and running first will have a huge global investment and hiring advantage. It comes to know The US wireless industry is prepared to pump $275 billion into 5G deployment.
According to a 2017 Accenture study US could create up to 3 million new jobs and boost the country’s GDP by $500 billion. But the way China is taking over there’s fear that the United States lags behind.
There are a few things that need to happen to make a broad commercial rollout of 5G a reality. Companies need to invest in research and development. But the government also needs to allocate additional radio frequencies to wireless companies, since 5G requires more bandwidth.
The United States, in third place, remains “near the top,” the report said. Despite the current state of affairs, many experts still believe the United States could come out on top in the end.