After More Than Four Years, Has 5G Lived Up to Expectations?

Fifth-generation wireless networks have spread faster and farther than some early advocates predicted, but the technology—despite hundreds of billions of dollars invested worldwide—hasn’t revolutionized whole swaths of the economy the way past mobile technologies did. In the US, about 43% of people had 5G mobile subscriptions as of June, ranking 10th worldwide. Hong Kong had the world’s highest 5G penetration rate, with 74% of its population subscribed to the mobile service. Ranked second- and third-highest in the world were mainland China and South Korea, which registered 5G mobile-subscription rates of 60% and 59%, respectively. Some developing countries are sitting out the 5G upgrade race because of its hefty price. In markets with widespread 5G, cellphone users often fail to notice a difference in service compared with 4G, its predecessor. A key growth opportunity for 5G—businesses installing private networks in places such as manufacturing plants and arenas—has yet to take off.