Consumers see value in 5G growing in popularity. 5G is becoming increasingly popular among consumers. Consumers love the idea of having faster, more reliable mobile connectivity. But would they want to pay more for it? 800 Americans were polled about their attitudes toward 5G. Here’s what we found. Participants were all aged between 18 – 64 years and had Internet access. 5G is well understood in all parts of the country by consumers. Consumers are excited about the potential 5G benefits, especially for mobile devices. However, they are less excited by the benefits they don’t see as directly relevant to their everyday lives. These include virtual reality and enhanced reality, drone delivery, and Hologram phone calls. Women over 30 and those below 40 years old are more open than others to paying an extra fee to access 5G.
However, people over 30 tend to be less inclined to pay. Consumers are excited about 5G’s potential to improve their lives and will pay on average $15 to access it. Rural customers are now more aware of 5G, increasing by 27 percent in the last 18months to reach 76%. Their awareness levels are at the same urban (79%) level as suburban (78%) customers. Men between the ages 30 and 39 are most aware, with 89%. However, 64% are unaware that 64% of those 60-64 years old have low awareness. Nearly 30% of consumers believe the 5G system will soon be available. However, 40% aren’t sure when.
Consumers see value in 5G most appealing
Consumers will not attracted by new benefits like virtual or enhanced realities. Instead, they expect reliable service, quick downloads, low cost, and more reliability. They already enjoy the service they receive and are open to any improvements. They appreciate incremental improvements and are willing to pay more each month.
Consumers believe 5G has the most exciting capabilities. Faster access is the best. Next comes fast connections in specific areas. Finally, there is virtual shopping. They are less keen on innovations pertinent to their time, such as drone delivery and video calling using holograms. These innovations were most prevalent among urban consumers, who are typically early business cases.
In the final, 5G service should cost 50% less than 4G. However, according to 5G users willing to pay $15 more per month, the average monthly cost is $16 more. Under 40-year-old men are most likely to be willing and able to pay more to receive 5G services. However, women older than 30 years have the lowest willingness.
Consumers are intrigued by 5G’s potential. They are attracted by the technology’s incremental advances, especially regarding the reliability and speed of their mobile service. Virtual reality apps are not widespread, but a few are eager to take advantage of these new technologies. These results reveal that consumers are unable to comprehend the value propositions for mobile broadband.
Enterprise customers find ways to offer enhanced customer experiences in small spaces like shops, restaurants, or theme parks. 5G is still in its infancy. However, VR and AR could take entertainment to a whole new level. For example, employees may wear AR glasses. These glasses save guest information that allows them to send personalized greetings. After seeing the 5G benefits, consumers will recognize its value in their everyday lives.
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