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5 Industries To Be Dramatically Impacted By 5G Technology

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Small changes pull big changes. It all started from the need to communicate with other people by phone more often than once a week and here we are: our messages and calls can get a recipient at the moment the button “Send” is pressed.

Development history of the mobile network is interesting and challenging, as just 30 years ago 1G network gave us an opportunity to make calls and now we are aware of a new generation of the network: 5G.

What will be the consequences of new technology and how crucial this will be for society and business? We found 5 industries that are going to be dramatically impacted by 5G technology.

What 5G Technology Is?

5G is the fifth generation of the mobile network. The main difference between the previous technology and the new one is data transfer. The first-generation offered a speed of 2 kbps, and 5G technology provides a speed of 1 Gb, and sometimes it reaches 20 Gb.

Until 2020, 5 billion smart devices will be used.  5G technology will help to cope with the speed of data loading.

The fifth-generation is designed to reduce data loading time, and significantly speed up the work of almost all the electronics in the world. This will reduce power consumption.

It would be good to mention more about the new 5G frequencies. Today, LTE networks have frequencies below 3.5 GHz, and 5G standards imply the use of higher frequency. The advantage is it will get rid of scraping,but will be a necessity to increase the power of the transmitters, so the stations will be placed closer to each other. Regarding the ability to use 5G on old smartphones, then this is unlikely. To use all the capabilities of next-generation networks, you will need to purchase a smartphone that supports them.

What 5G Implementing Does Mean for Society and Business?

The implementation of 5G technology worldwide will entail extraordinary economic development. The annual investment in 5G is estimated at $200 billion. With the help of the newest technology, it will be possible to significantly automate and improve workflow.

Thanks to Tesla, electric cars broke into the modern market and people began to massively switch from fuel cars to electronic smart cars. Also, more developments related to autonomous vehicles appeared, so the question about the speed of data transmission arose – the 3G and 4G networks do not have enough speed. The development of 5G industry will entail large changes in autonomous devices since the signal delay at high speeds of cars will be eliminated.

Also, the fifth generation will allow real-time monitoring of agricultural equipment and planted crops, unifying of infrastructure and creating of entire cities, improving communication networks, including transport networks. In medicine, 5G technology will allow doctors to perform remote operations using automated systems.

With the increase in the number of smartphones in the world, we are loading more and more data every year – the popularity of video and music is growing rapidly. The existing frequency is overloaded, which leads to problems with communication. Especially when a lot of people are nearby, trying to simultaneously access the Internet. 5G will cope much better when thousands of devices are connected to the network. It will also facilitate the Internet of Things – a global network of physical devices connected to the Internet, equipped with information transfer devices. It is a good choice to hire developers now for optimization of old systems to the new one. Below we will tell how to do it better. In Ukraine, the 5G is predicted to be by 2020, so you can hire developers in Ukraine for AI and VR development.

5 Industries To Be Impacted by 5G

5G represents a fourth industrial revolution: By 2025, billions of 5G devices will be in use, including AR/VR, remote robotics and autonomous vehicles. 5G will be the new infrastructure for our intelligent and fully connected society.

Power Industry

The 5G can lead to a revolutionary change in the production, transmission, distribution, and use of energy. 5G will be able to connect many unrelated devices. This will improve monitoring and make energy consumption forecasting more accurate. Low consumption and long battery life will allow sensors to be placed in key nodes. Therefore, they will monitor, prevent and promptly eliminate accidents. Expected cost-reducing is up to 30%.

Trade

Mobile shopping has become incredibly popular with consumers all over the world. The increasing of mobile shopping happened thanks to 4G. Soon we will see how 5G will influence mobile commerce, as the speed will be 10 times faster. Virtual and augmented reality will make it possible to “visit” the wardrobe in the store. That is, to try on many outfits practically without leaving home. Global spending on AR and VR applications for retail demonstrations will increase hundreds of times.

Finance

Financial institutions are more focused on mobile services. 5G will enhance it. Increased safety and speed will allow you to pay for goods and services instantly.

The 5G will give an opportunity to quickly and reliably identify customers, eliminating the need to visit banks. AI will pave the way for personalized financial services based on their habits and spending. Which, frankly, a little scary.

Media and Entertainment

5G will have a huge impact on the media and entertainment industry. With the 5G networks, a movie download time will be reduced from minutes to seconds. This will save time when using social networks, listening to music and watching videos.

Changes will occur in advertising. 5G can help companies overcome the challenges of scale and measurement that they mostly face when working with mobile advertising campaigns. 5G can help marketing and advertising move from banner advertising to moving images and videos. It may even lead to the emergence of new ad formats in VR and AR. 5G will also allow companies to measure the effectiveness of advertising in real-time using eye-tracking and biometrics.

Transport

Connecting public and private transport to 5G can change the way people and goods move around the world. The technology will provide improved visibility and control over transport systems: from public buses to private logistics parks.

Besides, the 5G can also play a crucial role in communications between vehicles and infrastructure, linking cars to traffic lights, bus stops, and even the road.

How Entrepreneurs Should Transform Their Business?

New technologies always change an approach to business. To remain relevant, it is worthwhile right now to start the implementation of AI and other promising technologies. As AI becomes a part of our daily life, the expectations of customers change. It is also worth taking into account 5G technology dangers and enhancement of security.

Regardless of whether the hacker aims to steal company confidential data or infect a malware that requires ransom, any organization, large or small, can be a target for an attack. The emergence of an innovative network increases the risk of cyber attacks. Our advice: you should be prepared for changes.

Bottom Line

5G technology meaning is not only an increase in the speed of the mobile Internet from 1 Gb/sec to 20 Gb/sec. The implementation of a new technology standard will transform various spheres of modern life. The emergence of 5G entails an increase in global spending, but at the same time optimizes energy consumption and time spent on downloading data. Such changes will soon come into our lives, change business and develop society.

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