By now, you have probably already heard about 5G cellphone technology. Every new iPhone and Android smartphone has a 5G wireless chip built in, allowing for ultra-fast communications with the rest of the Internet.

While consumer adoption of 5G has been strong, it's still early innings for the technology. Most existing cellular towers need to be upgraded to work with 5G communications bands. The roll-out of 5G is just picking up steam, and analysts believe that the 5G industry will grow at a near 44% compound annual growth rate (CAGR) for the next seven years.

By the end of the decade, 5G will have impacted every life on the planet and touch our lives in ways that can only be imagined today. 5G communications technology will enable the operations of self-driving vehicles, automated flying drones, and a global internet of things. 

In this special report, MarketBeat contributor Thomas Hughes covers the roll out of 5G technology, why it's still early innings, and which companies stand to benefit most from the future of 5G.