How Is Verizon Progressing in the 5G Race?

5G technology

Lately, 5G (fifth-generation) technology is generating some buzz in the media and telecommunications industry. The 5G network has the potential to significantly reduce latency, boost download and upload speeds, and improve network reliability. According to research by Statista, 5G wireless subscriptions are projected to reach 545 million by 2022.

Verizon (VZ) is set to begin the commercial rollout of its 5G fixed wireless broadband Internet services in the second half of 2018 following successful trials in 11 US (SPY) markets during 2017. The company is looking to introduce its super-fast Internet service based on 5G technology in as many as five US markets this year. The telecom company is initially targeting the residential market.

How Is Verizon Progressing in the 5G Race?

Connecting 30 million households to 5G broadband

Verizon selected Sacramento, California, as the first market that would receive its 5G fixed wireless Internet service as the company gears up to challenge cable broadband providers. While announcing plans for the commercial deployment of its 5G wireless broadband service, Verizon anticipated that its initial market opportunity in the residential broadband market could be ~30 million households in the United States.

Verizon’s wireless competitors AT&T (T), T-Mobile (TMUS), and Sprint (S) are also working on 5G network deployment. AT&T’s management recently stated that the company expects to be the first US carrier to launch mobile 5G service in a dozen cities before the end of 2018. However, AT&T didn’t offer specifics on vendors, costs, airwaves, or pricing.

Meanwhile, T-Mobile and Sprint, two wireless service providers that nearly merged last year, are targeting nationwide 5G network deployment by around 2020.