Bottom line: The one major chink in the proverbial armor could be wireless carriers. Specifically, will they be able to get the infrastructure in place to support 5G in a meaningful capacity by 2021? Keep in mind that current 5G technology has a much more limited range than traditional 4G LTE. Are consumers really going to adopt 5G handsets in droves if they only afford a speed benefit in very few places?

Qualcomm at its annual Analyst Day in New York City this week said it expects global shipments of 5G-capable smartphones to reach 450 million in 2021. Another 750 million units are forecasted to ship the following year, the chipmaker added.

The company previously said it expects between 175 million and 225 million 5G devices will ship in 2020.

Qualcomm further noted that it anticipates 5G adoption will be faster than that of 4G due to the availability of chipsets across varying price points and the timing of 5G commercialization in China.

What's more, mobile devices are far more prevalent today than they were when 4G LTE launched close to a decade ago meaning handset manufacturers will have more of a financial incentive to expedite the rollout.

Were you quick to jump aboard the 4G LTE train? Are you planning on purchasing a 5G-ready smartphone within the next year or so, or maybe you've already done so? Let us know in the comments section below.

Masthead courtesy Aly Song, Reuters