What will 5G do to the world?
The 5G technology market is expected to transform the telecom industry drastically by enabling new use cases, providing additional value to customers and generating new revenue streams with it. Every industry will be benefiting from deployment of 5G technology and will witness growth in applications such as connected vehicles, monitoring and tracking, automation, surveillance, AR/VR and enhanced video service. 5G networks offer faster data rates, at latencies of up to 10 times smaller when compared to current 4G networks. With 5G, data speed can reach up to 10 Gbps which is 100 times faster than that of 4G. Industrial and consumer users are demanding high speed communication networks.
Major applications of 5G technology:
1. Connected vehicles: 5G technology is essential for efficient operation of connected vehicles by enabling vehicle to vehicle and vehicle to infrastructure communication. As 5G offers data transmission at high speed and low latency, critical information is transmitted across an ecosystem which includes automotive OEM, dealer, media agencies, insurance companies, support center and repair shop
2. Monitoring and tracking: With the help of 5G supported IoT network, keeping track of wear and tear of equipment, goods and machinery will become easier and accurate. Sensors backed by IoT technology transfer data about the current state of equipment to allow predictive maintenance by pre scheduling replacement of parts or servicing
3. Automation: Industrial operations have changed drastically with the advent of automation. Automation technologies such as robotics and warehouse transportation have transformed traditional manufacturing practices. The 5G network offers building of smart factories by leveraging technologies such artificial intelligence and the Internet of Things (IoT). Moreover, autonomous systems supported by 5G are deployed on mining sites where humans face difficulties to work. These sites are dangerous and hard for humans because of the environment which is dusty and can also contain dangerous gases
4. Surveillance: Video surveillance will be greatly improved with 5G technology by meeting increasing demand for low-latency, high bandwidth and secure connection for video analytics
5. AR/VR: Augmented and virtual reality (AR and VR) technologies open doors for digital reality by enabling new ways of working in areas such as manufacturing, gaming, media, automotive and healthcare. High resolution 3D world will be enabled with 5G infrastructure companies investing more capital for reducing the 5G timeline availability
6. Enhanced video service: Paid video platforms such Netflix, Prime and other regional service providers have witnessed significant increase in number of subscribers. Growth of this ever growing users require consistent and fast connectivity to enable video content streaming which is gained by adoption of 5G networks
Who is leading 5G in the USA?
The global 5G technology market is analyzed to grow a rapid rate from US$ 0.60 billion in 2019 to $7.91 billion in 2025 at a CAGR of 57.3%. Top 5G technology companies or the 5G leaders in the US are Qualcomm, Samsung, Nokia, Ericsson, Cisco, and AT&T. 5G facts are available on government website with recent news on initiatives in favor of 5G technology. Demand for high speed continuous connectivity, growth of connected ecosystems and growth of paid video streaming platforms are some of the factors driving growth in the global 5G infrastructure market.
5G technology has adoption across various industries such as manufacturing, consumer, automotive, energy & utilities, transportation & logistics and others. Consumer industry is expected to have the largest contribution towards the overall 5G development. Automotive industry will witness sharp demand for 5G research owing to increasing adoption of self-driving or autonomous vehicles.