What is 5G and how will it impact the business world?
The fifth generation of wireless technology promises light-fastening speed, exceptionally low latency, and seamless video communication experiences.
As we had highlighted in our previous article Top Technology Trends that will define The Next Decade, the arrival of 5G is creating a buzz not only in the industry but also around the globe. 5G is the piece of the puzzle that will remarkably enhance the application of future technologies which are reframing the world powerfully- Internet of Things (IoT), Artificial intelligence, M2M communications, automation and control applications, AR/VR, to name a few.
According to a recent report by Ericsson, 50 percent of US consumers will have access to 5G in as little as five years. ABI Research study indicates 5G tech would likely decrease production times of emerging technologies 10 times more than 4G connections. Many experts in the industry see 5G connectivity as a critical component in the mass adoption of AR and VR technology.
So what is really the difference between previous generations and the 5th generation. Let’s take an overview of the benefits.
More Capacity: 5G is designed in a way to support a 100x increase in traffic capacity and network efficiency supporting faster speeds and larger consumers than previous generations.
Way faster: Recent tests have found download speeds of around 1.4 gigabytes per second for the median 5G user, up from 71 megabytes per second on 4G, The Verge reports. The download speeds are also improved appreciably, with over 90 percent of users observing at least 100 Mbps download speeds on 5G, at variance with 8 Mbps on LTE.
Lower Latency: Network latency is the time required for a set of data to travel between two points. The early users of Verizon’s 5G Ultra Wideband network in Chicago and Minneapolis reported maximum speeds close to 1 Gbps with a latency of fewer than 30 milliseconds, and 23 milliseconds faster than average 4G metrics.
Higher bandwidth: 5G has significantly more bandwidth, or capacity, than 4G. This is possible because 5G makes much more efficient use of the available spectrum. 4G uses a narrow slice of the available spectrum from 600 MHz to 2.5 GHz, but 5G is uniquely divided into three different bands. Each band has its frequency range and speed and will have different applications and use cases for consumers, businesses, and industries.
Business Benefits of 5G Tech
Faster internet speeds, increased traffic, and seamless tech integration are just a few business benefits, here are a few more benefits that you should consider investing in and prioritizing 5G tech:
Intelligent IoT devices: The release of 5G speeds will give a boost to the number of IoT devices creating a network of data. IoT-focused businesses can expect this highly-anticipated network to impact IoT devices significantly by enhancing infrastructure diagnoses systems and providing better data insights; both will strengthen a company's infrastructure, lowering the vulnerability of these devices, which are known to be more susceptible to cyber threats like cryptojacking.
Network Slicing: The multitude of uses and new services of emerging technology by businesses and consumers will require a flexible network that can provide a better user experience. With 5G tech businesses will be able to create multiple virtual networks with just one physical system. This network slicing can help companies provide an end-to-end virtual system encompassing not only networking but computing and storage functions as well. With 5G connections your business can offer consumers a more seamless experience.
Multi-Access Edge Computing: Through 5G tech, multi-access edge computing will assist in decongesting your company’s crowded network, even when supporting hundreds of devices at once. This cloud-based network architecture can not only decrease site congestion, but also will increase overall site performance. Besides handling large data loads and delivering results in real time, multi-access edge computing will also protect user data, through local computing versus a centralized network used currently.
The impact of 5G on the world around us
Many leaders in wireless communications are estimating by 2023 there will be 3.5 billion cellular IoT connections. This is amazing news for IoT device-reliant businesses, like AT&T and IBM, IoT device service or product providers, or those looking to integrate IoT into their current configurations.
The average consumer uses about 2.3 GB to nearly 11 GB of data per month on their smartphone nowadays. There is explosive growth in video traffic as the mobile phone is increasingly becoming the source of media and entertainment. 5G will be the driver to enrich the user experience with their low latency and high speeds.
5G is more than making a consumer happy, it will boost employees’ speed and productivity. The companies using data analytics to serve better services will have a greater advantage with the use of 5G simplifying business management. It will accelerate cloud adoption in enterprises as the data transmission rate will be phenomenal.
Moreover, cities will not be cities anymore, they will be “smart-cities”- everything from traffic-management to trains can be controlled remotely. Yes, this is possible when combining edge computing & IoT with this next-gen wireless broadband.
Not only this, the agricultural industry tasks can be automated with the help of high-speed 5G broadband. The overall efficiency and cost will be improved a lot. It will increase the capacity to handle more data usage simultaneously.
5G’s greater capacity may involve mass AR experiences – which could transform experiences within the entertainment sector such as theatre, concerts, re-enactments, and escape rooms.
Advertising will be more interactive. Online content consumption will highly increase. As internet speeds are rapidly getting fast with the dawn of 5G, marketing technology experts are expecting VR and AR to feel even more seamless. Soon we will be able to see attractive content on social media. The data collection process will improve.
5G will also allow marketers and cellular providers to collect more data along with being able to collect data faster than they could, with Wi-Fi or earlier generations of cellular networks. Aside from speeding up and improving vitality, it will reduce the time needed for marketing projects or daily tasks which are data-related and need higher-speed networks.
As 5G will give a massive boost to data, you can tap this new data to better understand infrastructure needs, consumer patterns and provide improved and secure connections between a company’s network, infrastructure, and stored data.
The industries world-wide should be ready with the proper planning to adopt this high-speed broadband. The new era of 5G will be transformational to the world we live in today.
Read more on The Top 10 Technologies of this decade here.
Shriya Madan, an ardent learner, a digital enthusiast, aspires to make an impact in the real world with the power of technology
Pranjali Apurva, driven by curiosity, converging strategic design with digital transformation