An industry analysis from Ericsson Mobility Report expects 5G to have 2.6 billion subscribers "covering up to 65 percent of the world’s population" by 2025.
“Today, you can’t do that because it requires so much processing,” Vestberg said. “So that means mix realities [augmented reality, virtual reality] when you're shopping or when you do something at work.”
Verizon and Amazon Web Services (AWS) on Tuesday announced a partnership to allow developers to build super-fast, data-heavy applications. Video game publisher Bethesda Softworks and the NFL are two of the Verizon customers testing out Verizon's 5G Edge computing platform.
However, the next generation of wireless technology also comes with challenges, including capacity issues. FCC Chairman Ajit Pai is pushing for a public auction of wireless frequencies in the C-band spectrum, but Vestberg isn’t concerned.
“We have all the assets for launching to 5G,” he said.
Verizon’s 5G service is available in 18 cities and will be available in 30 cities by the end of the year, he said.