The entire business world will be impacted by 5G connectivity in one way or another. Either a business prepares for 5G and grows with the new technology or it may fall behind competitors if it doesn't. The new technology is considered a game-changer for the internet because it will greatly increase speed and capacity.
Planning for 5G connectivity will separate businesses of the future from businesses of the past. By monitoring the development and trials of the new standard, you will get a clearer understanding of where everything is headed. Data-centric processes will be at the core of this nextgen transition. IoT devices and data collection will be key drivers that define which companies are modern.
Ways 5G Will impact Businesses
As 5G takes off over the next decade, it will be a core force for several industries to improve efficiency at multiple levels. Autonomous vehicles, virtual reality, wearable communication, and automation processes will all become more powerful by the faster connectivity with greater data capacity. Here's a more in-depth look at what the effects of 5G will be.
- Better Industrial IoT and Data Collection - A recent Gartner survey found that 57 percent of business respondents are preparing for 5G and expect to utilize IoT communication. Industrial IoT is expected to grow by double digits over the next five years. About 20 percent of businesses will experience a 20 percent increase in sales due to more robust Industrial IoT and data collection. Smart factories and wireless industrial control will become the new normal for manufacturers in the coming years.
- Smart Technology - As energy demand grows globally, smart technology will be the key to monitoring, analyzing, and adjusting processes to reduce waste. Smart grids are developing across many cities, as data analysis will heavily impact how utilities are run. Smart grids integrate well with cost-saving solutions such as Virtual Power Plants (VPP), solar and wind energy, microgrids, and blockchain.
- Enhanced Connectivity in Vehicles - Self-driving cars have been around for a while, but they will display a noticeable difference in the age of 5G. Built with intelligent driving systems, semi-autonomous vehicles will appear in many places by 2021. Smart technology will play a major role in strengthening fleet management.
- More Efficient Smart Cities - Soon you will see cities full of smart technology that integrates with LED street lights, CCTV systems, and smart parking meters. Traffic management systems will improve from the use of connected traffic lights and real-time data analysis. It will help make roads safer and less congested. Smart homes have been springing up more often as consumers use their smartphones to gauge energy costs at any time.
- Connected Healthcare - More and more health patients will use wearables and the internet to replace doctor visits. Health professionals can already remotely monitor patients who wear devices that measure and monitor biological activity such as pulse, blood pressure, and heart rate. It will allow medical experts to receive data and act more quickly to help save lives.
Aside from the technological benefits of 5G, it's important to understand the public issues that go with it, such as spectrum availability, costs, privacy, and security. Your business will have plenty of options for security, including Authentication and Key Agreement (AKA) and Extensible Authentication Protocol (EAP). Another security challenge will be to protect against growing cyber threats, as more data and devices require stronger security measures.
The reason there's so much talk around 5G connectivity is that it will create a more seamless internet experience. The changes, however, will not happen all at once, as it will take time for deployment and widespread adoption. Some people are calling 5G the fourth industrial revolution. It will be a world of more massive connections with digital devices. Ultimately, it will transform the quality of business and open the door to new industries.