Let’s Take a Look at 5 Industries Where 5G and IoT Will Likely Dominate In The Near Future
IoT and 5G Technology to reign supreme in the realm of self-driving cars; healthcare; logistics; smart cities; and even retail.
As the 5G mobile network becomes more mainstream, various industries are capitalizing on the value of wireless connectivity with respect to the market in smart devices and the Internet of Things (IoT). The challenge lies, perhaps, in redeveloping, redesigning, and restructuring services and products so as to leverage the superior capabilities of a 5G network.
With that said, there’s no shortage of IoT platforms and IoT devices used by people everyday around the world. Let’s take a look at 5 industries where 5G and IoT will likely dominate in the near future:
1. Self-driving Cars:
Sensors on self-driving cars generate a large amount of data – measuring temperatures, traffic conditions, driving patterns, driver behavior, GPS coordinates, etc. Producing and assimilating such quantity of data consumes lot of energy. To provide optimum services, such cars are also heavily reliant on real-time transmission of information (Tesla, anyone?)
High speed connectivity and low latency allows intelligent cars to constantly collect all sorts of data, including fragile, time-sensitive information. Complex algorithms work autonomously, keeping track of the working condition of the car; while conceptualizing improvements for future designs.
The medical field will also see improvements in their services as all sorts of medical devices become IoT enabled. Rural areas and other similar remote locations without proper healthcare facilities will hugely benefit from IoT connectivity.
With such low latency, world class healthcare services like surgeries performed remotely become a possibility.
5G connectivity will make it possible for sophisticated IoT tracking sensors that could transform logistics operations from end to end. High speeds and low latency help gather real-time data more efficiently; tactfully accumulating a wide variety of data – at all points within a supply chain and for a very long period of time.
A consumer would have access to detailed information like where the fish she just bought was caught, what temperature was it stored in during transportation and when was it delivered to the retailer.
4. Smart Cities:
5G will enable wider applications in smart city initiatives from water and waste management, traffic monitoring to enhanced healthcare facilities. Smart Cities will enjoy the benefits of the new generation network as more and more sensors make their way into city infrastructure.
In addition to handling massive amounts of data, 5G integrates various, intelligent systems.
This network allows for constant communication between one another, bringing the vision of a truly connected city closer.
IoT for Retail will see a positive impact from the coming of 5G as they attempt to shape customer engagement and experiences through mobile phones. Better connectivity and larger number of devices connected to the network will allow them to interact with shoppers faster with improved digital signage. New and innovative ways of customer engagement that incorporate Augmented Reality and Virtual Reality will become more popular. Retailers will be able to enhance the shopping experience by driving omnichannel retail practices more effectively.
5G and IoT together will also help in bringing every item on the shelf to the internet by creating digital twins for them. If the number of hardware connected devices is expected to be in the billions, the potential for ordinary consumer products with digital twins to be a part of the new Internet of Things is considerably more.
Unlike hardware devices, consumer products won’t have internet connectivity – but they will be able to send and receive information based on event-based interactions with consumers and other entities through scanning, RFID readers, NFC taps and more; ushering in the era of smart products.
The current wireless infrastructure is not up to the task of managing so many products on the network, but 5G will make it possible. Smart Packaging and Digital Labels will transform the way retailers manage inventory and track logistics as well as provide a hotbed of innovation to use them as a means to creatively interact with consumers.
4G is inadequate for handling the data load from the ever-increasing number of sensors and connected devices coming online, limiting what IoT can truly achieve. With its high data speed, low latency, more flexibility, low energy consumption, cost-effectiveness and ability to withstand a far greater number of devices, the 5G is the perfect enabler for Internet of Things.
We are looking at a future where not just mobiles, computers and tablets are linked to the internet, but a whole array of everyday objects, grocery products, and city assets. This presents new business opportunities for the emergence of organizations providing services and apps to manage complex IoT ecosystems and convert data into smart insights. 5G will play a significant part in transforming not just how we communicate, but businesses and society as a whole as well.