Carriers are starting to make a lot of noise about 5G. But do consumers really care?
Well—not so much, at least not yet. A new survey from PricewaterhouseCoopers reveals that most people still don't even know what 5G is. Just 46 percent of the 1,000 US internet users ages 18 to 64 who were polled by PwC last month were familiar with the term "5G." Awareness was highest among males and those living in urban areas.
But when they learn that 5G—the next-generation of wireless network technology—is expected to deliver faster data speeds, lower wait times, and improved reliability and may become a replacement for their home internet, consumers are into it. "Nearly everyone" surveyed found the idea of 5G appealing; 62 percent calling it "very appealing."
About a third of respondents find the promise of 5G so appealing that they would pay extra for it. On average, those consumers would be willing to pay an extra $5.06 a month for 5G service in their homes and an additional $4.40 a month for it on their mobile devices.
"More consumers are willing to pay a premium for 5G in the home than on mobile," PwC wrote in its report. "As it is, home internet users are less satisfied with their current service, and they feel as though they are already overpaying."
Even so, most people are in no hurry to get 5G, PwC found. Just 26 percent said they would buy a new 5G-compatible device as soon as their wireless provider starts offering the service in their area, even if they weren't yet eligible for an upgrade. The other 74 percent said they would ride out their current contract before upgrading.
All four major US carriers—Verizon, AT&T, Sprint, and T-Mobile—have said they're launching 5G either this year or early next. Verizon recently launched its 5G home broadband service in parts of four major US cities, AT&T expects to hook up mobile 5G in parts of a dozen cities before the end of the year, and Sprint and T-Mobile intend to debut the service early next year.