How 5G Will Impact the Future of Economy and Communication
Published by : Industrial Automation
The advent of fifth-generation mobile networks (5G) is almost here in the modern world. With this network, people will get higher speed of internet connectivity, nearly ten to a hundred times faster that of the 4G network. However, it does not just provide higher connectivity but also will unlock a wide range of opportunities, such as the optimization of service delivery, decision-making and end-user experience.
As the entire world has undergone a complete lockdown due to Covid-19 to prevent the virus from spreading, all companies and employees are working from home to avoid public gathering and maintain social distancing. After this situation, we can expect that it will be easy to see 5G modems finding its way into offices, workplaces and homes everywhere. In this way, fast and reliable connectivity creates a robust case for being able to work from home.
The 5G network is expected to have a larger impact on the global economy, contributing to add over US$13 trillion by 2035. China is disrupted more with the use of 5G and sees most economic gains. On the other hand, industries especially manufacturing will benefit most as operators can ramp up production and generate new revenue streams. This, in turn, will lead new industry digitalization revolution.
Since previous technology evolutions primarily based on the consumer market, the spending and return on investment of 5G have a larger focus on the wider enterprise domain. It covers the connection of not only conventional enterprise workers and their respective mobile devices but all electronic devices. This encompasses a significant push toward edge implementations to serve billions of connected and Internet of Things (IoT) devices.
The Future of Communication with IoT
5G is vital for IoT as it requires a faster network with higher capacity that can serve connectivity demands. IoT devices driven by 5G are expected not only to drive technological growth, but it is also anticipated to assist millions of jobs all over the world, which is said to come from the digitization in sectors including transportation, manufacturing, agriculture, retail, among others. There are also a wide range of industries would benefit tremendously from ultra-fast data transmission to derive considerable insights using 5G, including construction sites, mines, oil derricks and freighter fleets.
While it is projected that the commercial availability of 5G is set to start sometime around this year, the sector is already working to construct new global standards and pre 5G products to provide benefits to diverse industries. A recent Ericsson AB’s Mobility report delineates that there will be 550 million 5G subscriptions in 2022 and Asia Pacific (APAC) will be the second-fastest-growing region with 10% of all subscriptions during the same period.
The arrival of 5G will also enable us to control more devices remotely in applications where real-time network performance is imperative, including remote control of heavy machinery in perilous ecosystems, by this means enhancing worker safety, as well as remote surgery.
However, considering these advantages, we can say that 5G has the potential to drive improvements and advancements across industries including smart machinery and smart manufacturing, as well as paves new ways for enhanced communication of people and connected devices as well.