The world is crazy about 5G. 

US Justice Department approves the marked telecom operators T-Mobile and Sprint merger with a strong reason of their promises to deploy a nationwide 5G network despite the risk of undermining consumers' interests.

Chinese smartphone manufacturer VIVO claims to sell 5G handsets at cost price to promote 5G development. Apple acquires Intel's smartphone modem business, clearly targeting its 5G ability. Old-time electronic retailer GOME is opening 5G experience hall. 

Nokia, Ericsson and Huawei are continuously tracking the number of 5G contracts signed among the rivals.  

Chinese companies have been targeted by the Trump Administration due to the 5G network businesses as president Trump addressed his determination, "The race to 5G is a race America must win."

5G ignites a tech competition on the global battleground. But for most of us, 5G is still a confusing technology. 

Dissecting 5G features 

The magnificent purpose of 5G wireless technology is to support three generic missions fulfilling vastly heterogeneous requirements: enhanced mobile broadband (eMBB), ultra-reliable low-latency communications (uRLLC), and massive machine-type communications (mMTC). The complex terminologies specify three key characteristics: speed, quality and connectivity. 

1. Speed 

Enhanced mobile broadband (eMBB) symbols a faster speed for multi-media experiences. It is expected to achieve an internet speed of 1 Gigabit per second in 5G era. 

High resolution, augmented reality and virtual reality applications will be better supported due to high velocity. It would be a selling point for a bunch of consumer devices that will provide better experiences to consumers. 

Based on it, virtual reality and augmented reality are widely applicable in gaming, streaming, education, remote working, retail and marketing. 

2. Quality 

Ultra-reliable low-latency communications (uRLLC) signals a stable and low latency network. Devices connected to 5G would get a more precise, quicker response.

This is very important for mission-critical device control, enabling industrial control, mobile medical services, robotics, sensors, etc. 

3. Connectivity
Massive machine-type connections (mMTC) enables a vast number of machines to be connected. This is about scalable connectivity for an increasing number of devices, wide area coverage and deep indoor penetration. 

IoT is promising with this application, making smart home and smart city feasible. 

5G economic value added 

As AR/VR popularized and live streaming and social network enhanced, there will be opportunities in the content-driven businesses. Build upon that, content producers, content platforms, VR/AR app stores and app developers are to benefit from it. Advertisement companies will see exponential possibilities in the 5G era due to the explosion of data and multi-media content. 

For tasks requiring high precision such as connected automotive, remote healthcare and smart industrial controls, more B2B, B2C service companies are to be expected. The growing demand of solution, API, SDK brought lucrative income to software companies, high-end device providers as well as cloud services suppliers. 

In IoT scenarios, 5G enables larger connectivities of devices with low-power and less complicated standards. There will be a huge money saving in more flexible and efficient production systems with the help of robotics, AR devices, sensors and decision making systems.

Last, infrastructure providers and telecom operators will always gain network service fees.