Mbps or Megabits Per Second is the unit commonly used to measure data transfer rates or bandwidth across high speed digital networks such as computer networks or telecommunication systems.
A higher Mbps value means your network has a higher bandwidth meaning websites and videos will open faster. ISPs (Internet Service Providers) normally specify a minimum and maximum download speed for each package in terms of Mbps. The minimum bandwidth requirement for high quality streaming video or IPTV is typically 2-5 Mbps.
Note that the size of the digital data is commonly measured in terms of MBs i.e. MegaBytes where 1 byte equals 8 bits.