With Release 15, 5G Phase 1, just finalized, 3GPP is working further with the 5G Phase 2 to introduce new features both in the radio and core side in Release 16. A big part of the focus of Release 16 is to address use cases beyond the mobile broadband use case, covering work on Industrial Internet of Things and enhanced Ultra-Reliable Low Latency Communication. Further, 3GPP is introducing support for unlicensed operation with 5G and adding support for vehicle-to-vehicle communications. The content of Release 16 can be grouped as follows: efficiency enhancements; addressing vertical industries beyond the mobile broadband use cases and addressing segments like factory automation, power distribution, or the transportation industry; and making network deployment and operability easier. This chapter addresses the key new items in 5G Release 16 and explains their potential in improving the system performance, operability, or capability to address new vertical market segments.