The internet is a scarce commodity. Around 40% the world’s population lacks efficient access to the internet, according to Statista. And, this isn't just a problem for developing countries. In many developed countries, like the U.S., residents and businesses, particularly in remote locations, still struggle with copper cable networks and inadequate fiber rollout. The result is low internet speeds. According to the International Telecommunications Union's (ITU's) 2021 report on Measuring Digital Development, the worldwide share of internet users in urban areas is twice as high as in rural areas. The speed also varies, with rural households still experiencing single-digit Mbit download speeds in many areas.
Modern digital applications need fast broadband and latency (the time data takes to travel from the user to the server where the website or content is hosted and back again) of less than 65 ms to create an enjoyable user experience. Real-time data processing is not possible with slow internet speeds and high latency. That means, in this fast-moving networked world, rural companies are clearly lagging behind their urban competitors.