Why it matters: Verizon is teaming up with Nokia to bring 5G latency capabilities to enterprises requiring private networks. According to the just-released statement, the rollout will target companies in the manufacturing, logistics, and distribution sectors in Europe and the Asia-Pacific. According to Brian R. Fitzgerald, the head of SVP Global Solutions at Nokia, the joint venture will accelerate 5G connectivity in the private sector and provide a richer overall experience to clients.

"Private wireless connectivity has become central to many industries in realizing their long-term digital transformation goals. By delivering private 5G together with Verizon, we're paving the way to accelerate digitalization for the most demanding industries who crave reliable wireless connectivity," he said.

A new forecast by the ABI Research firm predicts that demand for private cellular networks will grow significantly by 2030, raking in sales valued at over $64 billion. Large-cap businesses with annual revenues exceeding $1 billion are expected to stimulate the initial growth of the overall private network market in the next 10 years.

The installation of private 5G networks is expected to speed up the embrace of the technology in Europe.

That said, there has been some resistance to 5G networks in the public domain, and a few days ago, 15 EU states, including Austria, Finland, and Greece warned that growing disinformation related to 5G networks was a stumbling block to reaching nationwide networking goals. In the letter addressed to the EU Commission, the countries called to attention the existence of anti-5G activist groups that were vandalizing 5G infrastructure and targeting telecom engineers.

There has been some public resistance to 5G networks in Europe for some time now. (Image credit: Euractiv)

"The increasing mistrust to the mobile radio equipment could have negative implications on the rollout of mobile network infrastructure," the group said.

Some tech companies such as Samsung have already taken it upon themselves to demonstrate the benefits of the technology to the public. Samsung UK is among them. The firm has unveiled a 5G bus setup to showcase its potential.

The Samsung 5G bus installation, located at its Samsung KX store in London, allows visitors to experience remote working and playing Xbox games online while on the move. They also get to experience Netflix, Spotify, and YouTube streaming services on a 5G network.

Image credit: Yahoo