Over the years, mobile technology and data speed have grown faster and more advanced. First, there was 3G followed by 4G, and now the next big thing is on its way — 5G. As 5G makes its way into the market, Verizon has shared insights from both advertisers and consumers.
About half (49%) of the 295 advertisers surveyed believe that one of the benefits of 5G is that it will provide a better customer experience, while close to half (47%) likewise view it as an opportunity to use new or additional creative formats. Other benefits that advertisers predict include advancements in real-time location-based targeting (46%) and better access to high-quality data (43%).
Verizon reports that 7 in 10 people have heard of 5G. Young consumers age 18-34 years old are the most familiar with the technology, with around one-quarter (23%) reportedly being “extremely familiar”.
Not surprisingly, 72% of consumers are most excited for faster data transfer feed. With many smartphone users of every age streaming video from social media and apps on their phones daily, it’s also no wonder that consumers said that high definition video content (57%) and consistent and constant video streaming (54%) were features they were excited for.
Half of the consumers surveyed said they were excited about better and faster connectivity for wearables. Data from the Consumer Technology Association (CTA) from July 2018 shows that wearables are increasingly becoming part of everyday life. Three in 10 US consumers own wireless earbuds, 25% use wearable fitness trackers and 18% own a smartwatch. Even VR headsets are making their way into US households, at 11% penetration.
Advanced technologies like artificial intelligence (AI) and augmented reality (AR) could also benefit from 5G. The majority of consumers (85%) of consumers believe that 5G will benefit AR, while 8 in 10 believe that it will also benefit AI-powered experiences.
About the Data: Findings from the study are based on survey responses from 295 advertisers and 1779 consumers.