Needless to say, data throughput, latency and the IoT are all critical elements to a 5G network, which in the end will embrace multiple standards and segments of the spectrum from sub-6-GHz right through to mmWave up to 6O GHz and beyond. In terms of economics, 5G will drive productivity and enable many new use cases. In fact, it holds the key to enabling energy efficiency through monitoring of devices via the IoT both at the consumer and industrial level, and will be key to managing a vast network of renewable energy collectors from solar panels to wind turbines. The energy network will be born through the IoT and 5G will ensure coverage and cost efficiency through economies of scale.
In fact the origins of this are already starting with LTE-A, though there are many issues to solve such as coverage, latency and power requirements, which is why we need 5G. Much like the railroad revolution and motor vehicle revolution the impact of the first real information super highway in the form of LTE-A and 5G should not be underestimated.