WASHINGTON, March 23, 2020 (GLOBE NEWSWIRE) -- 5G is not just an incremental improvement over 4G — it is the next major evolution of mobile communication technology. It will massively improve download speeds and reduce latency, but more importantly, it will facilitate significant technological progress in a whole range of sectors, such as the Internet of Things and autonomous driving. The electronic components that enable 5G technology will rely strongly on silver to make the global 5G platform perform seamlessly. In a future 5G connected world, silver will be a necessary component in almost all aspects of this technology, resulting in yet another end-use for silver in an already vast and versatile demand portfolio.
To better understand silver’s use in the next generation of 5G technology, the Silver Institute today released a Market Trend Report, entitled Silver’s Role in a Future 5G Connected World, authored by the research firm Precious Metals Commodity Management.
At present, 5G deployment is still in its early stages, and as such, 5G-related silver demand currently constitutes approximately 7.5 million ounces (Moz). With the rollout of 5G in the coming years, however, silver’s role in the electronic applications used in 5G is forecast to rise significantly to approximately 16 Moz by 2025 and as much as 23 Moz by 2030, which would represent a 206 percent increase over today. For comparison purposes, in 2010, silver’s use in the once emerging photovoltaic industry was approximately 40 Moz, and by 2018 it stood at 80.5 Moz.
The report discusses the differences between 5G and the previous generation of digital cellular networks. It also examines the five significant technologies that make up the core of 5G technology, and the role silver will play in these technologies. Finally, it looks at the hardware needs and supply chain requirements, given the massive amount of financial capital required in the development and expansion of 5G networks.
To download a copy of the report, please click here.
The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute’s members include leading silver producers, prominent silver refiners, manufacturers, and dealers. The Institute serves as the industry’s voice in increasing public understanding of the value and many uses of silver, including its role in numerous green technologies. For more information on the Silver Institute, please visit www.silverinstitute.org.