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Business Opportunities 5G Can Open Up Across Sectors

Technological advancement has evolved over the years, and with the introduction of 5G, which comes with increased speed and credible mobility, it has become leverage for businesses and various organisations giving them new opportunities in their industry and creating better chances of meeting the demands of their clients. 

Tech-savvy business owners and different sectors are making use of the benefits 5G technology will offer and ways it can change the way they operate and benefit their businesses. 

In their Mobility Report, Ericsson projects that 5G is scaling faster than any previous mobile generation and that by the end of 2023, they expect 5G subscriptions to reach 2 billion and more which will consist of 65% of the global population. 

What is 5G?

5G represents the “fifth generation”  of cellular technology. It is built to greatly increase the responsiveness and speed of wireless networks. 5G transmits significant data over networks with developed antenna technology and more bandwidth. 

However, with the introduction of this advanced mobile technology, we have seen notable development in the services delivered around the globe.

1G allowed mobile phones to be existing, 2G began the birth of texting, 3G facilitated smartphones and 4G LTE-enabled streaming. 

5G will be up to 100 times faster than 4G and 2000 times more than 3G with an increase in speed. 

Let’s dive in at how 5G works. Key features, Benefits of 5G? And What 5G can provide for business opportunities 

Read also; 10 Software Testing Trends you will need in 2023

How does 5G work? 

Wireless communications systems/networks use radio frequencies (also known as spectrums) to carry information through the air. They contain composed cell sites with several antennas and electronic equipment, which is used for their functionality. 

5G runs in this way but uses higher radio frequencies that are less unorganised, giving it the ability to transmit more information at a much faster rate. These higher bands are called millimetre waves; 5G depends on the millimetre wave spectrum, between 30 and 300 gigahertz, transmitting high-speed signals through small cell stations utilising multiple input and output antennae to boost signals and capacity across the wireless network.

Let’s look at its key features;

Most businesses/ organisations can use 5G to boost customer experiences and improve employee productivity using key features that come with the 5G networks.

  • Higher speed 

5G was created to be significantly faster than former networks, with speeds reaching up to 100× faster than 4G. Giving many benefits with greater transmission speed by allowing you to access files, programs, and applications and allowing an HD movie to be downloaded within 10 seconds instead of 10 minutes on 4G. 

  • Better connectivity and reliability 

Adequate connectivity allows better Data transmission, which occurs at a remarkable rate in large industrial plants and smart cities. To enable such data transmission, organisations will assign a large number of connected devices because 5G can support such bandwidth and provide better connectivity of a million devices per squarkilometreer, and its reliability helps significantly in decreasing dropped calls and connectivity. 

  • Lower Latency

Due to its lower latency, it allows 5G users to feel relatively less lag or delay when using phones and 5G connected.  Latency relates to the time between an order and the implementation of the corresponding action. Studies have shown that latency in 5G is ten times lesser than in 4G. Due to its lower rate, it gives a useful performance, better logistics control, and others.

  • Network slicing

5G was built to be flexible and efficient in addressing specific customer needs, using Network slicing, allowing organisations to access virtual and independent networks per specific needs more productively and economically. 

Read also: What Is Robotic Process Automation (RPA), and Why Does Your Business Need 

Benefits Of 5G Across Sectors For Business Opportunities 

  1. Healthcare

5G has greatly impacted the health sectors due to its low latency, which enables large quantities of data to be transmitted without any detriment to the speeds experienced. 

Paving the way for patient health data to be sent to doctors in time and the ability to use remote procedures and monitoring devices such as robotic surgery, which rely on HD image streaming and wearable tech, boosting the healthcare system.

  1. Agriculture

With IoT technology, modified by 5G sensors, farmers globally can optimise agricultural workflows like monitoring climate, tracking vehicles and livestock, checking plant health, monitoring maturity, and comparing historical yields. Also, checking soil properties and controlling the water supply increases profitability and flexibility and improves safety and efficiency among the farmers.

  1. Transportation 

5G will allow vehicle-to-vehicle and vehicle-to-everything communication. 

This is the wireless communication of data between motor vehicles. Vehicle-to-vehicle communication allows vehicles to wirelessly exchange information about speed, location, and heading. For example, two cars meeting each other from opposite directions can let the driver or passenger know the crossing time.

With vehicle-to-everything communication, there is easy communication which allows cars to communicate with traffic management systems, pedestrians, and other nearby objects. Also, giving cars the ability to sense hazards in advance, which increases visibility and control over transportation networks. 

  1. Construction 

Low latency and 5G’s high bandwidth assist in automating construction tasks using robots and remote-controlled automobiles. Construction automation guarantees less risk and less manual labour for workers.

 5G increases teamwork between teams working on large construction projects using the higher transmission. Allowing teams to create 3D construction models and transfer blueprints for flexibility.

  1. Supply Chain Management 

Introducing 5G IoT sensors in the supply chain usually decreases losses from human error or misplaced container units. These 5G sensors, when installed on products, would handily bring in real time a large volume of data to the fingertips of decision-makers and managers. These data can be used to identify pressure, ambient temperature and moisture, location and other data that are important to product management in the supply chain, making it stress-free and more efficient. 

Read also: How we build our software development team structure

Here let’s look at the business opportunities 5G can provide for small and medium businesses.

  • Rural invention
  • Remote working
  • AR/VR ( Virtual reality and augmented reality)
  • IoT
  • Manufacturing 

Summary

5G offers higher transmission, flexibility, connectivity, ultra-reliable and low latency signals, with newer network architecture. With these features, 5G can help organisations open new revenue streams and give better products and services to customers and other businesses. 

While 5G is not ready for use worldwide, actions are taking place to make this a reality. Once this technology is available, it can dramatically change how we work and live.

 Looking for software engineers to leverage 5G solutions and services? Soar Digital can make this happen with our dedicated and skilled software engineers in the digital space. Join us today! 

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