The Role of 5G in Transforming Various Industries

Overview

The new communication standard known as 5G, or Fifth Generation Mobile Network, makes it possible to connect at extremely high speeds and with very little latency. Additionally, compared to its technological forerunner, browsing performance is up to 100 times faster. Moreover, the delay is reduced to a millisecond or less. All of this can be accomplished without the need for additional devices to be connected simultaneously. As a result, these features are opening up prospects for industries that previously appeared unthinkable. This kind of technology will be combined with the Industrial Internet of Things (IIoT), which will enable industrial activity to develop in a way that is much more adaptable, autonomous, and effective.

A new era of connectivity, speed, and powers never before seen or experienced is being ushered in by 5G. By 2025, more than 3 billion people will be using the new, ultra-high-speed 5G network, which will naturally succeed the 4G network and account for nearly 50% of all telecom and internet customers.

By widely implementing 5G communication networks together with other connection options, the benefits of the Fourth Industrial Revolution and its associated new technologies will be completely realized. A wide range of options will become available as a result of 5G's major functional drivers, including improvements in service delivery, decision-making, and end-user experience.

By enabling use cases triggered by 5G, significant commercial and social value can be produced. According to some researchers, the global value chain for 5G is expected to provide 22.3 million jobs and enable $13.2 trillion in economic value by 2035.

Introduction

The 'fifth generation' of mobile connectivity is referred to as 5G Technology. The most recent generation of cellular technology aims to increase the responsiveness and speed of wireless networks.

Since the first standardized cellular network (1G) was introduced in 1982, 4 technical standards have been adopted and put into use worldwide. 2G, 3G and 4G LTE are examples of further cellular technologies that were introduced in 1992, 2001, and 2010, respectively.

• 1G Technology: This was the initial generation of cellular networks. The Advanced Mobile Phone System (AMPS) introduced analog telecommunication standards. The fastest possible data transfer rate was 2.4 Kbps. It is solely employed for voice calls.
• 2G Technology: This was the second generation of cellular networks. With the advent of the Global System for Mobile Communications (GSM) technology, digital communication standards were established in this generation. The 2G mobile phones were used for internet, SMS, and MMS as well as voice calls. The highest possible data rate was 64 Kbps
• 3G Technology: This was the third generation of cellular networks. The Universal Mobile Telecommunications System (UMTS) and the 2G network were integrated in this generation. This generation's smart features included web browsing, video calls, conference calls, and multimedia sharing. The highest possible data rate was 3 Mbps.
• 4G Technology: The fourth generation of cellular networks is currently in use. The unique characteristic of this generation is high-speed data transport. 100 Mbps is the highest possible data speed. Technologies like OFDM (Orthogonal Frequency Division Multiplexing) and MIMO (Multiple Input Multiple Output) are introduced in this generation. Gaming, IP telephony, video conferencing, mobile TV, and wearable technology are some examples of mobile applications.
• 5G Technology: The fifth generation of cellular networks is still in its early stages. The key aspect of 5G is its ability to transfer data at extremely fast speeds with minimal latency. The theoretical maximum data rate is 10 Gbps. Some of the anticipated uses include the Internet of Things, HD multimedia streaming, autonomous driving, and smart homes.

The 5G chipset market has witnessed substantial growth in recent years owing to an upsurge in the demand for high-speed internet and broad network coverage. Adding to this, technological advancements and an increase in the popularity of 5G-enabled smartphones will further accelerate the growth of the market. According to the Data Bridge Market Research analysis, the 5G chipset market is projected to grow at a compound annual growth rate (CAGR) of 49.02% from 2022 to 2029.

To learn more about the study, visit: https://www.databridgemarketresearch.com/reports/global-5g-chipset-market

Table 1: Comparison of Various Cellular Network Technologies

Source: Veritis Group Inc.

Facts and Figures

Global 4G population coverage will surpass 85% by the end of 2022, and it will reach over 95% by the end of 2028. There are currently 816 4G networks operating around the world, 336 of which have been upgraded to LTE-Advanced, and 62 are gigabit-capable.

There have been about 240 networks launched globally as the 5G rollout continues. By the end of 2022, 5G coverage had reached around 35 percent of the world's population, and by 2028, it was expected to reach nearly 85%.

Table 2: 5G coverage split by region (end of 2022)

Source: Telefonaktiebolaget LM Ericsson

According to a blog post on STL Tech:

• 4.8 billion 5G subscriptions are anticipated globally by the end of 2026
• The percentage of smartphones shipped by 2023 that support 5G could reach up to 65%
• In 2022, 13% of consumers will have smartphones with 5G

The "5G" wireless cellular network is the industry's fifth generation, and it was another year of astounding expansion. With momentum in enterprise subscriptions and industrial deployments, solid 5G uptake continues into 2023 after adding almost half a billion connections in 2022. By the end of 2022, there were 1.05 billion 5G wireless connections worldwide, an increase of 76% from the end of 2021. By the end of 2027, it will reach 5.9 billion people, according to research from Omdia and 5G Americas.

5G Use Cases in Various Sectors

Telecommunication Sector

An industry traditionally dominated by monolithic and purpose-built hardware, lacking flexibility and agility, is now being transformed by 5G by focusing on a new approach to infrastructure that offers modularity and adaptability. One of the main advantages of 5G for businesses is that it makes it possible for organizations to benefit from cutting-edge technology such as IoT and Artificial Intelligence (AI). The Internet of Things (IoT) is a network of interconnected objects that may communicate with one another over the internet, including smartphones, sensors, and other connected gadgets. Contrarily, artificial intelligence (AI) is the use of machine learning algorithms and other methods to automate processes and make predictions based on data.

Advantages of 5G for the telecommunication industry:

• Improved Connectivity and Coverage: 5G networks use a combination of low-band and high-band frequencies to offer both extensive coverage and fast connectivity. In crowded environments, small-cell installations are recommended to increase capacity and coverage. To increase network capacity and handle more users, 5G networks use cutting-edge technology like beamforming and massive MIMO (Multiple-Input, Multiple-Output)
• NaaS (Network as a Service): A flexible, scalable, secure network infrastructure that can be monitored and optimized in real-time is what this idea offers organizations by leveraging the possibilities of 5G technology. NaaS refers to the provision of the network infrastructure as a service, with network resources and functionalities made available to users on a pay-per-use or subscription basis. A Service Provider (SP) is the entity that owns and manages the network infrastructure and is in charge of its upkeep, security, and availability. Technology for 5G slicing enables telecoms to offer network-on-demand services
• Ultra-low Latency: Due to its extremely low latency, 5G is perfect for use cases requiring real-time responses, such as IoT and augmented reality (AR) applications. Customers' user experiences may be enhanced by 5G networks' reduced latency since it enables the delivery of cutting-edge services that were previously impractical
• Secure and Flexible Networks: 5G networks' enhanced security will assist shield users from online dangers and unwanted access, which is crucial in critical communication circumstances. As a result, telecom operators may gain a competitive edge and gain the trust of their clientele. Telecom operators may rapidly and effectively adjust to changing business needs and market situations thanks to the adaptable 5G architecture. Operators will be able to respond to market needs and cutting-edge technologies more successfully because of this improved flexibility.
• Energy-Efficiency: 5G networks that are efficient in terms of energy use would help telecom operators save money on running and maintaining their networks. The ideas of software-defined networks and network function virtualization aid in the effective use of network resources, boosting reliability with minimal operational cost and environmental impact

Smart Factories/Manufacturing

The implementation of 5G technology will significantly alter how Industry 4.0 firms, or "smart factories," manufacture and distribute items. Low latency, high reliability, and increased speed—the core components of 5G-are essential for supporting emerging technologies and their cutting-edge uses in the field of smart manufacturing, including process automation, remote monitoring, device life cycle management, and other areas.

The smart manufacturing market has witnessed substantial growth in recent years owing to rising government involvement in supporting industrial automation. Adding to this, the rising popularity of enhanced factory technologies will further accelerate the growth of the market. According to the Data Bridge Market Research analysis, the smart manufacturing market is projected to grow at a compound annual growth rate (CAGR) of 11.7% from 2021 to 2028.

To learn more about the study, visit: https://www.databridgemarketresearch.com/reports/global-smart-manufacturing-market

• Industrial Automation Fueled by 5G Manufacturing: Control systems are frequently used in industrial automation to manage repetitive operations, along with cutting-edge technologies like IoT sensors, AI vision cameras, and autonomous robots. By boosting the networking capabilities of its different components, 5G technology will accelerate the adoption of industrial automation. For instance, the 5G standard's low-latency wireless connections will make real-time machine monitoring and control easier, providing industry executives with more information and better facility management. For instance, a manufacturing plant might use 5G to link AI vision cameras throughout the production line. Managers would be more productive and efficient because of the high-speed wireless connectivity when tracking quality control and inspecting products from a distance
• Remote Asset Monitoring is Possible With 5G Manufacturing: Remote monitoring and management of production assets is another advantage of smart factories. Through software solutions, operators can monitor processes in real-time without physically being on the factory floor. This enables operators to manage assets with ease, obtain actionable insights in real-time, and set up the machines to maximize quality, safety, and efficiency. For Factory Acceptance Tests (FAT), Siemens, for instance, set up its first live remote monitoring system in its Transformers factory in Mexico. The FAT is evidence that the machinery produced by Siemens complies with the terms of the customer's contract and is prepared for on-site installation. In contrast to the norm, users can now conduct the FAT from remote places due to live monitoring. Live broadcasting and remote monitoring will be easier, more precise, and more secure with the advent of 5G, allowing operators to expand their use and address issues as they arise
• Management of the Device Life Cycle and Maintenance: It is crucial to ensure that equipment is operating properly at industrial sites and companies. To do this, IIoT sensors could be installed on various machines to track the status of the equipment and send out warnings when a fault is found or when the equipment needs routine maintenance. In-plant sensors that keep an eye on crucial machinery will provide plant managers with up-to-the-minute information regarding their status and output as 5G technology is implemented. Continual equipment monitoring made possible by IoT and 5G deployment may potentially result in cost reductions. For instance, the firm can monitor the condition of a machine part and replace it only when necessary, as opposed to replacing it every six months
• Repairs using augmented reality: To fix electronic boards, augmented reality troubleshooting is made possible by 5G technology's low latency and reliable communication. The Estonian factory of Swedish supplier Ericsson has been experimenting with augmented reality (AR) overlays. The business said that looking for information in paperwork, manuals, and schematics takes up about 50% of the overall time needed for debugging circuit boards. The average defect detection time could be shortened by 15% with AR troubleshooting. Additionally, there might be fewer component replacements, which could save energy and result in less chemical use, waste, and scrap

Likewise, there are various use cases such as automated guided vehicles, additive manufacturing, real-time video analytics, and others which can be made possible with the help of 5g technology.

Banking and Financial Services

5G smartphones will function as thin clients with unheard-of processing power. Powerful yet lightweight apps can be used by financial institutions and their partners to provide more remarkable user experiences on mobile devices. The processing-intensive tasks can be handled by these new 5G applications in the cloud, and results are delivered to the device in milliseconds.

The advent of agile methodologies and quicker updates will save maintenance costs since applications may update in the background or logs can be processed and stored in real-time. Providing a better customer experience would help financial institutions increase retention and share of wallet. Additionally, 5G can offer banks several benefits that boost performance or result in cost savings, such as leased lines and ATM networks.

• ATMs: Customers can use ATMs with greater ease, which helps keep customers and enhance their comfort and pleasure. To satisfy consumers, banks typically work to maintain consistent high times around-the-clock. consumers always want uptime or else they become irritated, which can also result in lost sales

There are numerous places where 5G can benefit institutions much more than outdated networking techniques:

• Coverage - Wide coverage can be attained via 5G without the need for costly fiber or DSL setups
• Price - Compared to legacy installations, 5G configurations are substantially more affordable overall
• Maintenance - 5G can be deployed and configured rapidly without having to wait weeks for a fiber line
• Secure - 5G enhances communication's security and dependability

5G leased lines: 5G offers latency and speed similar to fiber, but its implementation time is far shorter. With this advantage, 5G may be positioned as the primary business-grade alternative for enterprise data networks, offering significantly faster provisioning than fiber. To add more redundancy, 5G can also be used as a backup or hybrid network. A company's branch network may eventually rely heavily on 5G, especially if fiber growth is challenging, particularly in rural areas

Mobile edge computing (MEC), network function virtualization (NFV), and software-defined networking (SDN) are some of the crucial technical requirements to integrate 5G and edge infrastructure with cloud-based applications

• Data management: The real-time data collection and distribution capabilities of 5G's low latency bandwidth include location-based payment information. With the advent of 5G, personal financial services will be able to use more artificial intelligence. Customers may be reminded by an automated financial assistant when they are approaching their weekly spending cap. Financial institutions might use high-speed low-latency services to offer advice that is more precise and important in attracting more clients since 5G experts believe its advantages will extend beyond only customers. Financial experts will be able to use this technology to their advantage to develop more effective backup procedures
• Wearable Devices: The popularity of wearable digital gadgets is skyrocketing, and they have the potential to become a substantial channel for mobile payments. Traditional wearables depended on local authentication, checking each new scan against biometric information like fingerprints. With 5G technologies, cloud authentication will be more dependable and responsive than before.

Healthcare

Healthcare technology investments increased as a result of the COVID-19 pandemic, rising by 19% in 2020 to $9.1 billion. According to some research papers, the epidemic has also contributed to a 39% increase in 5G network infrastructure globally in 2021. These figures illustrate how the key to accelerating digital transformation in the healthcare and medical device industries is a readiness to accept digital solutions combined with quick technology improvements and the number of IoT devices or connected devices.

The healthcare information technology (IT) market has witnessed substantial growth in recent years owing to the increasing number of clinical trials. Adding to this, several market participants are developing efficient healthcare information technology (IT) platforms which will further accelerate the growth of the market. According to the Data Bridge Market Research analysis, the healthcare information technology (IT) market is projected to grow at a compound annual growth rate (CAGR) of 16.8% from 2021 to 2028.

To learn more about the study, visit: https://www.databridgemarketresearch.com/reports/global-healthcare-it-market

• Healthcare Using Augmented Reality: Augmented reality offers a number of uses in healthcare, including remote monitoring and procedures due to 5G. The latency periods associated with using AR in a 4G context are typically 20 to 50 milliseconds. The discrepancy between visual detection and brain processing, these delays causes motion sickness when experienced over an extended length of time. These restrictions are overcome by the higher performance and bandwidth of 5G networks. Vodafone's AR HoloLens glasses, which enable paramedics to obtain vital information on patient handling and treatment and check out medical data, are an example of augmented reality in healthcare. Therefore, if the patient is a pregnant woman who is in labor, AR glasses give the ambulance staff information such as the pertinent questions to ask and the measures to take on the way to the hospital
• Telemedicine and 5G: It makes telemedicine possible, especially in remote places, and necessitates a network that can handle high-speed, real-time, high-resolution file transfers as well as real-time, high-resolution calls without any lag or jitter. The higher bandwidths and low latency of 5G networks can improve patient experiences overall, lower costs for healthcare facilities, and increase the quality of telehealth sessions. Telemedicine is also the safest option for dealing with pandemics because it reduces doctor visits and links patients in far-flung areas of the world with specialists and modern medical facilities
• Ambulance with 5G Connectivity: EMTs in an ambulance may communicate with hospital officials in real-time about a patient's symptoms, vitals, and medical history through 5G connectivity. Additionally, they can use 4K video conversations to alert the doctors to the scenario and assist them in properly preparing beforehand, particularly when dealing with unforeseen circumstances brought on by accidents, natural catastrophes, or pandemics. Doctors are even able to remotely monitor the entire situation and advise the ambulance team on the best course of action. This real-time data interchange, along with the effective use of time and medical resources, shortens the time it takes for an ambulance to change hands, boosts the number of people using the emergency room, and improves the patient experience overall
• 5G remote surgery: Most hospitals lack experienced surgeons for every discipline, with the exception of the larger multispecialty hospitals in major cities. In these circumstances, doctors on the scene consult with the specialists via video and audio. However, 5G connectivity can go one step further by providing professionals with real-time updates from operations as they counsel the surgical team in progress. For instance, in addition to live-streaming the entire procedure with audio, surgical microscopes with 4K monitors can send consulting physicians high-quality pictures. These facts enable consulting experts to supervise and direct clients more effectively

Likewise, there are various use cases of 5G in healthcare such as remote patient monitoring, medical sensor and IoT, clinical collaboration and communication, and many others.

Apart from mentioned use cases, 5G is evolving in various industrial sectors such as energy and utilities, public safety, government and military, transportation, media and entertainment, automotive, retail, articulation, and education, among many others.

Conclusion

The rapid advancement of technologies such as 5G connectivity has an impact on people's lives by facilitating easier access to information, faster communication, and interaction, all of which enhance the quality of life. Newer generations of mobility networks have been continuously propelled by more services and higher throughputs.