The next big leap in the development of electronics is arriving soon in the form of 5G technology. 5G chips have been in development for a while and consumer devices are about to hit shelves. Moreover, all the major smartphone service providers are about to roll out their 5G networks.
The launch of the fifth generation of mobile communication technology has major market implications. Revenue from 5G products and services are projected to garner $12.3 trillion by 2035.
The rapid data transfer speed of 5G will evolve major facets of the marketplace. Its enhanced connectivity also promises a higher level of service, thus creating a raft of business opportunity. This new technology will facilitate growth by optimizing emerging technologies, increasing productivity, and enabling entirely new sectors to grow.
Consequently, 5G will shape the future of global industry. Here are three areas which will be impacted first.
Driving the Automotive Industry
The incredible upgrade in mobile broadband bandwidth is going to redefine the way we think about cars.
High-performance components for autonomous vehicles will soon become cheaper to manufacture. In turn, the prime elements of self-driving cars, sensors, and artificially intelligent systems will be more effective and cost-efficient.
Not to mention, increased connectivity will allow vehicles to seamlessly interact with the technology around them. Cars will be able to harness data from other vehicles, nearby buildings, and even people on the street.
Undeniably, 5G is giving auto industry innovators the tools they need to create safer and smarter vehicles.
Revamping the Manufacturing Sector
As every facet of modern factories becomes integrated through Internet of Things (IoT) technology, typical manufacturing methods will undergo a major revamp. Namely, everything is about to become automated.
5G is supercharging the development of autonomous robots that can fill any role in the manufacturing process. Soon, machines will do everything from managing resources to assembling products to readying them for shipment; all without human intervention
While multipurpose self-directed robots aren’t new, 5G will ensure greater reliability via enhanced connectivity. That means the autonomous manufacturing industry will be more reliable than ever before. Accordingly, investment opportunities in the sector will be highly sought.
Elevating Wearable Devices
Just as cars are about to become better connected, 5G will allow IoT interactivity. As such, new wearables will smoothly interface with smart home assistants, mobile phones, and even virtual reality devices.
Wearables include electronic wristbands, glasses, and any other device that attaches to one’s person and has wireless networking capability. Many of these products are already out in the world saving lives and making concerts more fun. But 5G may elevate wearables so they become as multifaceted and prevalent as smartphones.
All-in-all, when it comes to the innovations of 5G connectivity, wearables have massive potential for consumer appeal. Indeed, QUALCOMM estimates the 5G value chain alone will generate $3.5 trillion in revenue by 2035.
Once the widespread adoption of 5G happens, the automotive, wearable device, and manufacturing sectors, among many others, are going to be massively overhauled for the better.