Currently, 4G LTE is the industry standard for high-speed cellular data and a mobile broadband Internet connection, but soon, things are going to get even faster. Verizon is going to be working on its next major cellular network starting in 2016, which the company will call a 5G network.
The testing will be internal, and while most devices won't even support such a cellular network yet, the early testing will give Verizon a way to perfect their new cellular network standard before smartphone companies even begin building the feature into their handsets. Verizon is said to be working with various wireless companies to make this happen since modern devices aren't made to work on a 5G network.
5G will bring some notable improvements, in addition to speed, to cellular data. According to Verizon, the carrier expects that 5G will offer "50 times the throughput of current 4G LTE, latency in the single milliseconds, and the ability to handle exponentially more Internet-connected devices." Of course, this is still just theoretical, and we know just how accurate theoretical speeds really are in the real world when you get involved with network congestion.
Despite the testing next year, such a service wouldn't be available until far in the future, such as around 5 years or so. 4G LTE will remain the carrier's most important asset for the time being, and as such, the company will continue working on and growing coverage of its 4G LTE network in the meantime.
If you remember how long it took for 4G LTE to become a widespread sensation, you can probably expect the same from 5G. When 4G LTE came out, you were lucky if you were anywhere in reach of a 4G LTE signal, and were more than likely connected to a 3G or HSPA+ connection. Although we could see a public launch of 5G in 5 years, it might not be until about 8 years from now that such a network is strong enough for everyone to use, and most people will still be using 4G LTE devices until it becomes an industry standard.
Source: CNET
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