- 5G network services have been tested in the United States, with rollout anticipated by next year
- The 5G networks are expected to boost speeds another 2,000 percent beyond current 4G LTE standards
- Spectrum Global Solutions provides end-to-end network services for the telecommunications giants leading the 5G charge, as well as large “aggregators”
- SGSI anticipates that $150 billion to $200 billion will be spent on network deployment services alone “over the next couple of years”
The world has heard the first shot heralding the coming mobile technology revolution that will sweep in 5G network speeds and a host of new Internet of Things (“IoT”) capabilities, and telecommunications network end-to-end service provider Spectrum Global Solutions Inc. (OTCQB: SGSI) is gaining attention as the echo reverberates throughout the industry.
“The larger companies that may need our services find us attractive because, one, we’ve got an excellent safety record — actually a 100 percent safety record,” SGSI President Keith Hayter told The RedChip Money Report during an interview last month (http://ibn.fm/K5Qtf). “We have national engineering licenses throughout the U.S., Canada and into the Caribbean. We’re able to provide that comprehensive set of services so it’s a one-source engagement with our customers that mitigates the need to hire multiple contractors to perform multiple services — not just across the nation, but they may only need them in specific locations.”
Spectrum Global Solutions lists some 200 clients ranging from multinational telecommunications giants such as Sprint, AT&T and Verizon to large infrastructure “aggregators” such as Crown Castle, ExteNet Systems and Uniti Fiber, providing services “for the installation, construction and maintenance of next-generation infrastructure for telecommunication networks,” Hayter said.
The company’s third quarter report noted a 300 percent year-over-year increase in revenues and a 200 percent quarterly increase in net income, and SGSI expects the forecast to remain robust as businesses and consumers alike clamor for 5G capability as the large carriers begin to roll out new infrastructure.
“The market opportunity is immense,” Hayter continued. “Over $1.5 trillion is going to be spent on telecommunications. For deployment services, which is where we primarily fit in and get our revenue streams from, from $150 (billion) to $200 billion will be spent over the next couple of years.”
AT&T and Verizon are racing to establish 5G service in the United States and gain consumers’ attention. AT&T’s introduction of a “5G E” icon on mobile phones has been widely mocked because of its apparent deception in convincing consumers that they already have 5G service speeds (http://ibn.fm/ybDe9), but the company defends its “5G Evolution” promotion as a means of informing mobile users if they are located in the 400-and-counting markets where 5G service is expected to go live next year.
AT&T tested its 5G network in a dozen cities around the country late last year, and Verizon announced that it was introducing a limited home broadband service with 5G speeds in a handful of other markets (http://ibn.fm/Fd616). In the United Kingdom, a telecommunications partnership is working on a test to broadcast 5G service to rural areas that might otherwise get bypassed by the revolutionary tech. The “5G RuralFirst” initiative is planning to test uniquely rural-focused uses of 5G, such as a test of IoT-enabled autonomous tractors that can run at all hours of the day, as well as distance monitoring of a salmon fishery (http://ibn.fm/DY4dV).
While no 5G-enabled consumer devices have hit the market yet, smartphone makers wait with anticipation for the rollout of new product lines, and media outlets build expectations for services offering 20-times faster data transmission speed than the current 4G LTE network, as well as better support for artificial intelligence and virtual reality.
For more information, visit the company’s website at www.SpectrumGlobalSolutions.com