, which is probably a good thing. Increased competition will force providers to invest more and end users will hopefully see better prices with new and improved services. Whether and when these ben- efits materialize remains to be seen. 2.12 Challenges 5G is often touted as the next wireless revolution, promising faster speeds, lower costs, better energy efficiency, hyper connectivity, and new exciting use cases and applications. The 5G technology defined in 3GPP is certainly up to that task - it is capable of fulfilling the tech- nical requirements of IMT-2020 (and in fact beating these) and can do much more than what has been envisioned for IMT-2020. The question, though, remains, when it will be deployed at large scale, which features out of many specified by 3GPP will be used, what applications will make use of the network capabilities, and, perhaps not the least important, 2.12 Challenges whether operators will be able to monetize their investments in 5G spectrum and network build-out. Massive and mission-critical IoT are very promising technologies; however, as of now the main wireless network usage remains what has been the bread and butter for cellular oper- ators - mobile broadband. It is obvious that mobile broadband will remain important, but the big unknown is how much growth potential there is in that market and whether users will be willing to pay premium for the higher speeds 5G can deliver. It is generally accepted that the smartphone market is saturated and therefore for 5G to live up to expectations it must be successful in new markets other than mobile broadband. Massive IoT is widely believed to be the next big thing for the wireless industry. This may very well be the case, however the challenge here is that it requires a completely different business model than the cellular operators are used to. While the number of IoT devices will eventually be orders of magnitude bigger than the number of human cellular users, the revenue from each device will be much smaller. It is unclear how profitable