Infrastructure REITs towering over the 5G economy: Massive investments in communications infrastructure will be needed as economies move into the next digital era

Over the next decade, wireless applications powered by fifth-generation (5G) network technologies are expected to disrupt nearly every sector of the economy, requiring massive investments in communications infrastructure. We believe cell tower and data-center owner-operators will be key beneficiaries of 5G-related spending, providing critical assets to carry economies into the next digital era.

What 5G is and why it’s a game changer

The introduction of 4G wireless broadband paved the way for smartphones that could access the web at high speeds, creating a surge in data consumption (see, “Wireless data consumption is doubling every two years,” page 29). In response, wireless carriers have invested in continuous upgrades to relieve network stress and satisfy consumer demand. But even as they continue to expand and improve 4G coverage, these companies are looking ahead to deliver even faster data speeds and other enhancements through the development