The promise of 5G

Consumers are largely satisfied with their current home and mobile internet services; however, there’s mounting frustration with overall reliability, speed and cost. As a nationwide deployment of 5G draws near, it becomes increasingly important to understand how consumers feel about their existing home and mobile broadband services and what they perceive about this next generation of wireless technology, of which only 46% are familiar.

Doing so will allow companies to make more informed decisions about the network devices, services, and applications that will depend on 5G. Specifically:

• Network operators and their suppliers can optimize overall deployment and performance
• Companies who are developing applications and services can do so more confidently
• Employers deploying IoT, automation and AI can better understand opportunities

We asked 1,000 home and mobile internet users questions in several categories:

• How satisfied are you with your current home and mobile internet services?
• Have you heard of 5G and how do you feel about its potential?
• What do you want and expect from 5G internet, both in your home and on your mobile devices?
• What is your willingness to pay for 5G, and why?

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Awareness of 5G needs improvement

46% of respondents were familiar with the term “5G” without prompting, with familiarity skewing heavily towards males. Awareness of 5G is also higher in urban vs. rural areas (50% vs. 40%).

Reliability is top priority

Inconsistency is a current pain point for consumers and is largely contributing to overall dissatisfaction: 43% agree that the internet on their mobile device “cuts in and out sometimes/ is not always strong,” while 37% say the same for their home internet, and how it “disconnects for no reason.”

Thus, it’s no surprise that if consumers could change just one thing about their current internet, both in and out of the home, the majority would change its reliability—more so than speed, data and cost.

Reliability is the top consumer “must-have” for internet across the board.

One third are willing to pay more for 5G

The business case for 5G isn’t ideal—the rollout and implementation will be costly, and there’s growing concern around small profit margins. But what if internet users are willing to pay more for 5G service?

If 5G delivers on its promise, a third of internet users will pay more for the technology—33% would do so for 5G in the home, while 31% would do the same on mobile.

But how much more would consumers be willing to pay?

Among all surveyed respondents, on average, consumers would be willing to pay an extra $5.06/month for 5G internet service in the home, and an extra $4.40/month for 5G internet on mobile.

Notably, more consumers are willing to pay a premium for 5G in the home than on mobile. As it is, home internet users are less satisfied with their current service, and they feel as though they are already overpaying. What’s a marginal increase in price for a significant improvement in service?

Despite the benefits, 5G is not an immediate need

53% of mobile internet users said they would be willing to make a switch for 5G:

• 32% would switch providers
• 21% would switch mobile device brands
• 19% would switch platforms/OS

However, being amenable to change does not equal urgency, and most consumers are not in a rush to get the new technology—in a scenario where a new mobile device would be required to access 5G, only 26% said they would rush out to buy one, even if they were not yet eligible for an upgrade.

Willingness to buy a new device right away was highest among young males <40 (36%), African Americans (36%), and consumers who regularly play video games (34%).