5G Networks: This Time It Is Different

Wireless networks have played an essential role in connecting people in recent decades. They are essential for novel applications such as internet of things (IoT), e-health, big data and blockchain. 5G networks are expected to support all those high-quality services and applications in different social environments and vertical markets, such as healthcare, finance, media, and transport. 5G technology is considered a game changer, offering high data rate, very low latency (i.e., delay in data transmission and response time) and reliable wireless connectivity. However, there is a need for a novel, cooperative approach to wireless network management to unleash the full potential of 5G networks. Indeed, a 5G network can be considered a network of networks, where sharing of inputs and infrastructure becomes crucial to expand and strengthen the network, exploit its capacity in connecting people and objects. To date, the roles of mobile network operators (MNOs), service providers, and end users have been predominantly distinct. This chapter aims at introducing recent 5G network developments paving the way for digitalising various social functions. It discusses how 5G networks will enable shifts from operator-centric networks to more decentralized network architectures, to serve location-specific needs with locally deployed networks. This brings about a number of challenges, as more decentralization has to rely on effective coordination mechanisms at various infrastructure levels (for instance, access to shared spectrum bands and on-demand leasing of network elements). Taking into account that only the first versions of 5G technology are currently defined, this paper considers the state of 5G networks development, looking at their key economic, technical and regulatory aspects. It summarizes recent 5G spectrum auctions, which have resulted in highly diverging approaches in different countries. This work is focused on Europe and offers a few insights regarding 5G in Finland and Italy; however, global 5G developments are considered too. Only the first versions of 5G are being deployed and not all the new features, which can make a distinction from 4G, are there yet. Nevertheless, a few aspects seem to deserve timely attention, especially taking into consideration the characteristics, and conditions, that can make 5G a game changer. High divergence in the approaches that national regulators have taken in their 5G spectrum awards is already evident. Moreover, the MNOs alone are not in the best position to develop specific solutions, as this calls for deep domain specific knowledge. Understanding the connectivity needs of a specific social environment or vertical market should be the starting point. A joint effort of every stakeholder involved is crucial for 5G.