The Internet of Things (IoT) is growing, with 700 million connected devices expected to reach 3.2 billion by 2023. While many factors are at play, the development of 5G networks will be one of the most essential.
The upcoming release of fifth-generation cellular mobile connectivity is fantastic news for the IoT business. This is primarily because 5G networks will significantly improve the performance and dependability of these connected devices.
5G enables faster, more stable, and more secure connectivity that’s advancing everything from self-driving vehicles, to smart grids for renewable energy, to AI-enabled robots on factory floors. According to the GSMA, 5G connections are expected to grow to 1.8 billion by 2025 – and we’re well on the way!
It’s unleashing a massive IoT ecosystem where networks can serve billions of connected devices with the right trade-offs between speed, latency, and cost.
Here are a few ways 5G and IoT will provide new value to businesses and society.
Manufacturing And Connected Products
5G and IoT will benefit the manufacturing industry in terms of both revenue and cost. On the revenue side, these technologies will enable manufacturers to create a slew of new connected devices, enabling the creation of previously unavailable services. For example, Manufacturing design and maintenance products may offer enhanced virtual reality (VR) capabilities, allowing for exponentially more accessory products and services.
5G and IoT will enable smart factories, allowing data from sensors to boost production line efficiency, cut energy usage, and enable vital time-sensitive operational process controls.
According to a recent report commissioned by Oracle Communications, 80% of 265 company leaders in 11 countries believe 5G will minimize costs while increasing revenue streams.
5G and IoT can develop smart city networks that can support new apps and services that improve people’s lives. Sports fans driving to a sold-out game, for example, may receive real-time notifications about open parking places while en route in an
IoT-enabled city powered by 5G. By integrating video analytics and artificial intelligence (AI), traffic lights and traffic flows could be regulated, decreasing congestion and travel times. By minimizing peak traffic on highways, it is possible to save time and frustration while also enhancing safety and cutting emissions by reducing the amount of time a vehicle idles at a red light.
The deployment of 5G in IoT applications is likely to be a top use case for vehicle automation. Not only might a 5G-powered IoT system revolutionize how we commute, but it may also lead to the development of more efficient, safe, and driverless cars. This includes the possibility of supplying self-driving vehicles and new services based on the collection of more real-time and granular data on a vehicle’s health and performance.
While manufacturers, software companies, and robotics labs have been collaborating and competing for years to get commercially viable self-driving vehicles on the road. 5G opens up new possibilities for autonomous driving applications that meet the Society of Automotive Engineers (SAE) autonomous driving levels 4 and 5. Remote autonomous vehicle control on any road, in every condition, without a human onboard is a possible use case. Because such vehicles might be used or even rented to ride-sharing services by their owners, the cost of car ownership could be drastically reduced.
Because of 5G’s quicker network speeds and lower latency, doctors may be able to remotely treat patients with less chance of network blackouts, disconnections, and lag time. It may also hasten the adoption of remote medical services and operations, such as sending huge digital photographs to remote locations and performing remote robotic surgery.
These services would save not just time and money but also lives. Large files, such as those generated by PET scanners, can be promptly sent to professionals for emergency remote consultations thanks to 5G connectivity.
Market Research Future projects that the telemedicine market will develop at a 16.5 percent compound annual growth rate until the year 2023. This is due to a rising need for medical services in rural and underserved areas that may only be possible with 5G and IoT.
Perhaps the most promising aspect of this technology is that it affords people more – not less – autonomy. Over the next few years, the internet of things will transform our lives. 5G will enable much more far-reaching connectivity as it gradually rolls out. Our cities will become smarter, as will our cars, and our packages will notify us when they arrive at our door. The 5G revolution is on its way, and it’s going to be quite interesting. Get in touch with our experts to find out more about how 5G and IoT can help your organization.