5G has been a topic of interest for a few years now, and in the year 2020, this fifth-generation wireless technology started gaining momentum. Most telecom companies are working on 5G projects, and some smartphone companies have already launched their latest 5G-compatible devices in the market.
According to Statista, “By 2026, the 5G chipset market value is estimated to amount over 22.41 billion U.S. dollars worldwide.” The growing number of 5G benefits make this an easily achievable number, as more and more companies invest in this advanced wireless technology.
The opportunistic value of 5G is limitless, as the manufacturing, healthcare, agriculture, transportation, banking, supply and logistics verticals will also be benefitted from it.
Faster Speed with 5G
5G, being the latest wireless cellular technology, aims to deliver high data speed with a lower latency rate than the current 4G. It also promises to be more reliable with a higher network capacity, which will help enterprises to operate and respond faster to customers and deliver delightful experiences.
New Possibilities with 5G
With the growing development of next-generation networking infrastructure, the reach of 5G is going to grow in the times to come, making way for use cases that are possible only with this latest cellular technology.
For instance, most event-based industries that rely on large venues and concerts suffered due to COVID-19. Powered with 5G, they will be able to connect with their audience faster and in a safer way through virtual concerts. Many event-based enterprises are working with the telecom industry to roll out 5G Standalone (SA) for successful plan implementation.
Augmented Reality is another key aspect of 5G that will allow users to interact in real-time during such concerts and have stadium like experience of watching their favorite sports live.
Better Connected World
With the launch of low earth orbit satellites, it is evident that connectivity is moving beyond towers and fibers to Wi-Fi 6 and short-range technologies like DOCSIS 3.X. With the advent of 5G, we will surely see some innovative connectivity options. This technology is expected to provide 100 times faster data transfer from its predecessor, offering exceptionally low latency rate and higher bandwidth to help enterprises deliver improved customer experience.
Automation and Edge Computing
Automation is gaining a lot of traction for its myriad business benefits and edge computing is making it easier for enterprises to access robotics and automated devices easily. 5G along with edge computing, will open a plethora of new revenue-generating opportunities for industries, including manufacturing, transportation, and gaming. 5G can transfer data at a much faster rate, which will allow enterprises to send information to far-away sensors instantly and process them in real-time at the borders of a network.
Also, the growing traction for smart applications will increase the load on cloud infrastructure, paving the way for an increased demand for edge computing-powered by 5G. According to an Allied Market Research, with 5G gaining pace, the global market for edge computing is expected to reach $16.55 billion by 2025.
Dawn of New Era with 5G
Industries are exploring new paradigms with 5G. The retail industry, for instance, will be able to provide virtual support post-sale, as 5G with low latency and better speed will enable Virtual Reality and Augmented Reality services. Also, extracting data from the IoT-enabled devices will be much faster, which will enable enterprises to provide better customer experience.
In the manufacturing industry, 5G will eliminate the need for wired connectivity, and supplement the high-speed environment with a far greater degree of flexibility. A 5G-enabled factory will be highly capable to maintain connections among more sensors than previously used wired or wireless facilities.
Many industries have already started reshaping business models and strategies to implement 5G. If you are interested to know how 5G can accelerate your operational processes and help your business experience higher productivity, connect with PureSoftware. PureSoftware’s Arttha5G is built on industry-leading chipsets and brings energy efficiency, low cost of ownership, and best time to market possibilities.