5G – The most important race of the next 5 years.

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The trillion-dollar global buildout of 5G networks is one of the biggest infrastructure projects ever. 5G wireless is a key-enabling technology in the race for tech supremacy. Many new winners and losers will follow as the global 5G competition intensifies.

Woodley B. Preucil, CFASenior Managing Director, 13D Global Strategy & Research

13D's Point of view

  • The 5G disruptive tide is both seismic and inevitable, ensuring it will be one of the major investment themes in a generation.
  • 5G wireless is a key-enabling technology, promising data speeds 10 to 100 times faster than 4G LTE networks and 1 to 5 millisecond latency, higher security, and increased reliability
  • In 2018, the globe generated 33 Zettabytes (ZB) of data. By 2025, that number will skyrocket to 175 ZB.
  • Huawei is considered to be a year ahead of competitors in 5G, and the U.S. is increasingly fearful of falling behind.
  • Chinese companies now own 36% of all 5G standard-essential patents, far outpacing the U.S.
Read more

Our Insights

5G race may become the largest infrastructure project in history.
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The global race for leadership in 5G, AI and quantum computing intensifies.

Our research

Meet the analysts

Woodley B. Preucil, CFA

Senior Managing Director

Woody has been instrumental in driving the growth of 13D’s business for three decades by being actively involved in the identification, development, and analysis of many of the firm’s core investment themes.

Trevor Noren

Managing Director

Lei Yang, CFA

Senior Managing Director - Head of China

Anurag Bansal

Managing Director - Southeast Asia

5G in a nutshell

The trillion-dollar global buildout of 5G networks is one of the biggest infrastructure projects ever. 5G wireless is a key-enabling technology in the race for tech supremacy, promising data speeds 10 to 100 times faster than 4G LTE networks and 1 to 5 millisecond latency, higher security, and increased reliability.

Ultimately, 5G networks could support 100,000 IoT sensors per city block, measuring everything, ranging from vibration, position and light to blood chemistry and heart rate. 5G networks will enable generation of huge amounts of data by connecting digital sensor networks in the field with the cloud. This will allow businesses to not only provide faster response times, but also create strong feedback loops for more customized products. The convergence of low-cost 5G, AI, and quantum computing sets the foundation for new industries that could upend many business models.

China is positioned to potentially lead the world in 5G wireless. Concern is growing in the U.S. that if China leads in the deployment of 5G, it could have first mover advantage to experiment with emerging technologies and displace Silicon Valley as the hub for leading engineers. Chinese companies now own 36% of all 5G standard-essential patents. Half the world may be heading towards being powered by Chinese technology in the next few years. Developing countries in Asia, the Middle East, and Africa are attracted to Chinese telecom equipment’s lower-cost, advanced equipment.

In response, America is beginning to move mountains to regain 5G leadership. Two new studies put the U.S. on top in the global 5G race—for now. The FCC is moving quickly to allocate critical 5G wireless spectrum, recently completing one auction, with three more planned this year.

In the U.S. alone, operators are at the frontend of a $275 billion network upgrade cycle over the next seven years, while China is on-track to invest $400 billion to rollout a nationwide network by 2023.

5G fixed wireless services have already launched in the U.S. and are a threat to the $120 billion cable TV industry. Fixed 5G networks can provide greater coverage and consistency of service, allowing 1 gigabit per-second speeds at 1-kilometer coverage—10X the average download speed of 95.25 Mbps for fixed broadband in America.

Many new winners and losers will follow as the global 5G competition intensifies. Wireless operators that take the lead in deploying robust 5G infrastructure may gain competitive advantage. Leading providers of key enabling technologies have relative strength yet are trading at discounted valuations.

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Woodley B. Preucil, CFA

Senior Managing Director

Woodley “Woody” Preucil has been associated with 13D for over 30 years. Woody has been instrumental in driving the growth of 13D’s business for three decades by being actively involved in the identification, development, and analysis of many of the firm’s core investment themes—primarily focusing on how disruptive technologies are helping provide solutions to economic problems and transforming industries through the “Law of Accelerating Returns” and Joseph Schumpeter’s “Gales of Creative Destruction.”

Woody and other team members have been consulted by governments periodically to help them improve their economies, such as in 2010, when he and colleagues met with then-President of Colombia Alvaro Uribe Velez and his advisory team about how to digitize the nation’s economy, capitalize on accelerating technology change and leverage the nation’s fertile farmland to help meet the world’s growing food demand.

Woody holds a BA in Economics and Accounting from Ohio Wesleyan University in 1983, earned his CFA certification in 1987, and is a member of the New York Society of Security Analysts and the CFA Institute.

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Trevor Noren

Managing Director

Trevor joined 13D in 2015, after a decade and a half in the tech and media industries. His primary focus is on how the algorithmic revolution is transforming industries, cultures, politics, and financial markets. He has led the firm’s analysis of the escalating backlash against big tech, the tech cold war between China and the U.S., and the meteoric rise of rules-based investing, among many others.

He has consulted with top think tanks, news organizations, and investment firms on emerging themes in technology, bringing expertise on consumer trends, market risks, and global technology policy. His analysis has been featured by The Financial Times, The New York Times, and Bloomberg. Trevor believes that when algorithms coexist in complex systems with the subjectivity and unpredictability of human decision making, unintended consequences result. His aim is to recognize and understand those consequences before they manifest.

Prior to joining 13D, Trevor worked as a reporter in the Bay Area, a technical writer for Google, and a Creative Director for Showtime Networks. His work at Showtime was nominated for four Emmy Awards and an Oscar, among many other industry accolades. His expertise in digital transformation and marketing has been instrumental in guiding 13D’s online presence and marketing initiatives.

Trevor holds a BA in English with Honors in Creative Writing from Brown University, graduating in 2003. He is based in Brooklyn, New York.

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Lei Yang, CFA

Senior Managing Director - Head of China

Lei Yang has been associated with 13D since 2005. He heads up 13D’s China and Asia macro research as well as individual stock selection. Lei has a deep understanding of the Chinese economy and how the Chinese leadership impacts both the economy and the stock markets. Except China, he is also focusing on Asian Geopolitics, Japan, Infrastructure and Innovation.

Lei was instrumental in 13D’s buy signal on the Chinese equity market in October 2012. He also assisted in 13D’s major call to short the yen and buy Japanese equities in October 2012.Lei also serves as the Editor-In-Chief of the Chinese version of What I Learned This Week Lite, an abbreviated version of the full English version of What I Learned This Week.

Lei earned his Master’s Degree in International Business from Norwegian School of Economics (NHH). Lei is a CFA charterholder.

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Anurag Bansal

Managing Director - Southeast Asia

Anurag has been associated with 13D for nearly 10 years. Anurag’s broad work experiences for over 15-years in research, operations, sales, finance and team management sets the foundation for his distinct and unique contribution to the company. Anurag oversees macro research and idea generation for one of the firm’s top investment themes: Why India could be the best-performing stock market over the next ten years. A key focal point of his research and writing is about how technology is helping India leapfrog developed countries.

Anurag is also instrumental in content creation across many of 13D’s other key investment themes including climate change, emerging technologies and food and water shortages. Additionally, Anurag plays an important role in 13D’s internal corporate deployment of new technologies.

Anurag also directs the firm’s Center of Excellence in Delhi, which provides market research and sales support along with data analytics and industry research support.

Prior to 13D, while working at one of India’s top research outsourcing firms, Anurag built an extensive background in macroeconomic research and commentary for Emerging markets and earned outstanding performance accolade for his research. Anurag also worked with India Infoline for two years as a capital markets and derivatives dealer—delivering outstanding returns while managing a portfolio of high net-worth clients.

Anurag earned a bachelor’s degree in Mathematics followed by Masters in Business Administration.

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