The global 5G infrastructure market is expected to reach $80.5 billion by 2028 as service providers race to meet the rapidly growing demand for high-bandwidth connectivity. That growth means a big boost for a key element of the 5G ecosystem: fiber.
To power 5G services across the U.S., wireless carriers are upgrading their networks from copper-based services and lower-bandwidth connections to high-capacity, fiber optic connections and adding cell towers in places they haven’t previously delivered coverage, spurring an influx of fiber to the tower (FTTT) initiatives for fiber backhaul services. The resulting new fiber builds are taking place in tandem with existing deployments — establishing dense networks that can pump out more bandwidth… and more business opportunity.
History has shown that connectivity infrastructure is a driver of economic growth. A recent Deloitte study concluded that a 10-percentage-point increase in broadband access in 2014 would have produced 875,000 additional U.S. jobs and $186B more in economic output in 2019.
Fiber connectivity substantiates productivity, enables innovation and facilitates economic development. And the big winners are the businesses close to these new fiber paths.
The pieces of the puzzle are falling into place to make 5G a reality. Fiber service providers like Everstream are planning their expansion routes strategically, to deliver on FTTT deployments and to bring new connectivity options to businesses that are along the routes.
As an example, take the case of a retailer with hundreds of distribution centers and stores in metro and rural areas. These locations need reliable, high-capacity bandwidth to run their cloud-based applications, such as customer relationship management (CRM) and business intelligence (BI) systems.
As we extend Everstream’s fiber infrastructure in support of FTTT requirements, the expanded network offers access for nearby businesses. By bringing new infrastructure within reach, FTTT initiatives are quite literally paving the way for increased availability of high-capacity connections.
5G’s trickle-down effect benefits the entire ecosystem — and the victors are businesses like the one described above. As rollouts continue, expect to see new business cases emerge as companies reap the rewards that high-capacity, low-latency connectivity delivers.
Want to learn more about how fiber service providers are positioning themselves as 5G deployments continue? Check out our President’s latest article in Connect-World.