1G brought us communication. 2G enabled texting. 3G united talking, texting, and data. 4G is a faster version of 3G. In 2019, we`ll see the launch of 5G. It has received a lot of hype in the media field, especially about the way it might change the industries. Our team decided to join those who research the topic, share the insights of 5G pros and cons, and explain what`s in it for businesses.
Ericsson, a company engaged in 5G infrastructure research, estimates: there will be over 1.5 billion of people connected to the network by 2024. But 5G mobile technology is not just speedy downloads. With the new network come fast connectivity, remote device control (IoT), low latency, and all-around coverage that supports smart vehicles and ensures smooth traffic flow. Real-time performance becomes critical for 5G wireless technology. Since it is a promising means for heavy machinery remote control, it maintains workers` safety and makes distant medical care real.
Seems like previous generations of mobile networks have little similar with the fifth. No wonder, it has all chances to become a game-changer in different areas it might be used. Here is why:
Qualcomm Technologies, Inc. predicts a considerable economic growth in 2035, a year when 5G fully enters the mobile world. The research estimates 5G mobile technology will be a driver for a $12.3 trillion of goods and services production. While some researchers are optimistic with the numbers, others see it as a big downsize. Wireless Communications experts at King’s College London claim that super-fast 5G is expensive, it takes years to deploy and drives urban-vs-rural digital gap.
Anyway, here are some benefits 5G brings for business, according to Qualcomm research:
Qualcomm researchers are sure that retail, education, transportation, manufacture, entertainment, healthcare — a wide range of industries will be under positive influence. The expected revenue growth is nearly $35 trillion by 2035, which enables supporting up to 22 million jobs. Therefore, businesses will have to adapt and face some benefits in product and service delivery.
5G is not only an everyday revolution, it inevitably transforms the way we develop software today. Although no dramatical changes are predicted, fifth generation wireless technology might influence the use of websites. Since the Internet is likely to become widely-accessible, faster speed, latency, better uniformity make mobile wireless trend to evolve. Therefore, there are some real advantages 5G brings to software development. To get a website adapted for 5G surfers, here are some things to consider:
A crucial point to consider: not everybody on Earth would enjoy 5G in the forthcoming years. Cities are the first to embrace the network, and then it further spreads to rural areas. Therefore, better not to be overdramatic with changes in your website. After all, 5G is all about adding new capabilities over time, experimenting with new features, and creating an engaging platform for your users.
Industry transformation is all about improving connectivity issues, and 5G is a key role player here. The 5th generation network is merely related to better Internet speed. Chances are 5G drives connected devices for different industries: medicine, manufacture, transport. These fields increasingly rely on wireless technology to collect and analyze data, increase productivity, improve product & service delivery. 5G network might offer flexibility to manage the range of connected devices simultaneously.
Many IoT-related activities might become available with the power of 5G, so we identify key industries that are likely to develop with the new network and wireless tech support.
Transport
Managing self-directing machinery sensors, cars, consumer electronics is a tough job and requires mature support of IoT empowered by 5G. Safety and real-time awareness of autonomous vehicles need a sufficient network speed and almost perfect latency.
And while the road to 5G is still a work in progress, 90% of vehicles might be connected via the Internet by 2020. The tendency would accelerate the growth of smart highways, “intelligent” traffic lights, properties, grids to build a dynamic wireless transport ecosystem. Therefore, vehicle and roadside communications would add value to logistics and implement driverless trucks for long-distance transfer routes.
Healthcare
In rural areas, where the doctors are several miles away, traveling ill or traumatized is a challenge. Although the advent of telemedicine enabled home monitoring systems, network speed causes care delays for dozens of patients per day.
With 5G, telemedicine enters a new era. As it requires and real-time video support, the use of wired networks covers the load. The latest version of mobile network makes healthcare appointments widely available, get timely care and effective communication with the staff members.
High speed of 5G adds value to quicker high-volume data transport. PET scanners generate huge files — nearly 1 gigabyte per each patient. When the network is low, the transmission of machine images takes hours. 5G might help transfer medical data files quickly and safely improving both quality care and access to advanced services.
Evident transformations in healthcare industry drive new businesses development. Software and applications for remote care, pharmaceutical solutions, new insurance programmes, growth of government healthcare organizations are the new services that will come in handy as 5G evolves.
Manufacture
However, companies in the field face challenges in fast and cheap product delivery. Competition drives manufacturers to apply process innovations to gain profitability. Therefore, companies go into robotics automation and warehouse delivery to stay flexible.
5G and IoT add automation to the manufacturing process transforming it into the smart-factory model. Ericsson study proves: smart factories take advantage of artificial intelligence and AR for troubleshooting. 5G enables manufacturers to create new revenue streams. Ericsson predicts $113Bn of profit growth by 2026. The potential increase is 7% more compared to the current revenue forecasts in the industry.
Since AR/VR is a bandwidth-heavy service, reduced latency and high speed of 5G could improve the use of simulated environments. As a result, the use cases of AR/VR in medical care or retail are gaining traction.
Mobile AR shopping experiences can make product visualization available in the local environment. Meaning the shoppers would see additional information on any product using smartphones.
5G benefits small retail businesses as the improved connectivity encourages online location exploration via smart devices. Once the performance issues are eliminated, hardly known local companies might get more attention and increased sales.
In time, we will see how the advent of 5G impacts GDP, the way we travel, get medical care, buy groceries, watch movies, celebrate birthdays. Before 5G becomes a reality, its implementation will come through budget challenges, it will take longer for the businesses to adapt. But what we know for sure is that a new internet generation has all chances to transform lives we have today. Let`s see how it goes 🙂
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