5G stands for "5th Generation". 5G is the name given to the fifth generation of mobile network technology and is the next milestone in the evolution of wireless, after 1G, 2G, 3G and 4G.
5G is the successor to 4G (fourth generation), offering much higher speeds and hardly any latency. On 5G, latency does not exceed 1 millisecond, in comparison to up to 50 milliseconds on 4G.