5G Technology | Future of Industry
Fast, reliable broadband transmission and services are set to revolutionize the way we make decisions, manufacture products, and maintain factories. 5G network technology is touted as the most important driver of economic growth in the coming decade; designed to meet the very large growth in data and connectivity of today’s modern society, the internet of things with billions of connected devices, and tomorrow’s innovations. Very important advantage of 5G is the fast response time referred to as latency. It provides 10 to 100 times the capacity and high-speed data services of 3G and 4G networks; connectivity at 10 Gbps throughput.This is virtually instantaneous opening up a new world of connected applications
According to the regulator Ofcom, we will be using 13 times more data in 2025 than we are today. Many of these new devices will be things that power and monitor our homes, city infrastructure, transport and more, via Internet of Things (IoT).
5G will benefit consumers, businesses and networks.
Not to discount and undermine e-commerce and m-commerce, net/mobile banking, payment apps, online visual merchandising, food delivery apps, government to public services (IT filing, GST submissions, Registration, Land records etc.) potential.
Low power consumption - according to a European Commission report (November 2019), broadband equipment accounts for 21% of global ICT sector energy consumption. As a result, 5G systems are being designed to be energy efficient in order to reduce the carbon footprint.
Low latency at 1ms is critical for implementing safety systems and ensuring real-time vehicle-to-vehicle and vehicle-to-infrastructure communication in autonomous/connected cars. Influx of messaging or interactive services, location-based ads, chatbots. In Defence, a better answer to military needs; when looking for enhanced orchestration, hybrid networks, interoperability, cybersecurity and resilience, moving from one system per need, to one system for all needs. Reduced waiting time, superior situational awareness during most critical missions and improved connectivity between those on the field and at HQ. Remote control will be improved with a lower waiting time, drones’ control will become more precise, and the native connectivity will be improved for soldier.
That being, how a company (governments) collects, stores, and uses that data will be critical to success, so investment in analytics tools will be essential. A number of companies and government agencies are increasing their investments in research and development to support the development and deployment of 5G technology.
Mobile and Telecommunication Operators Contribute Hugely to Global Economy
Mobile companies may face revenue reductions due to high infrastructure costs - new capital requirements and upgrade existing networks to 5G standards (replacing or installing new components such as access networks, gateways, switches, and routing elements).
Nevertheless, by 2025, there would be 5 billion mobile Internet users and 6 billion mobile subscribers. Additional indirect benefits and productivity gains enable the mobile industry to contribute nearly $4 trillion to the global economy (equivalent to 5% of global GDP). Mobile operators generate over 60% of the economic benefits of this entire industry. The remaining 40% is produced by other market players: infrastructure manufacturers and integrators, retailers and distributors of mobile products and services, manufacturers of mobile devices, as well as providers of mobile content, applications and services.
On the flip side,
The U.S. remains the world’s leading mobile market and the figurehead from which the world’s other markets take their cues. Growth in the U.S. mobile subscriber base remains strong, with a penetration rate of 127%, and 5G is now being deployed by U.S. providers. According to the GSMA, almost half of North American mobile connections will be running on new 5G networks by 2025, fueled by operators spending on new networks. Depending on the data used, the size of the digital economy (ICT - information and communication technology) today ranges from 4.5 to 15.5% of world GDP. Nearly 40% of the value added in the ICT sector comes from the United States and China.
The GSMA estimates that 5G will account for 20% of global connections by 2025, with take-up particularly strong in North America and Europe, while Informa reports that 5G could be responsible for 22.3 million jobs and $13.2 trillion of global economic output by 2035.
71% of the world’s population will be mobile subscribers. Developing countries like India, China, Pakistan, Indonesia, Bangladesh, as well as Sub-Saharan Africa and Latin America, will account for this growth.
The major market players include Nokia, Samsung Electronics, Huawei Technologies Co., Ltd., Ericsson, Mimosa Network, Inc., Siklu Communication, Vodafone, Verizon Communications Inc., Inseego, and CableFree are the leading companies in the 5G fixed wireless access market.
Key Elements Included In The Study: Global 5G Fixed Wireless Access Market
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