5G is expected to fuel future industry growth with over $12 trillion expected to be invested in next 15 years to support a broad set of use cases and spark new era of enhanced digitization. From enabling remote robotic surgery and widespread adoption of autonomous cars to improving crop and livestock management, 5G is poised to disrupt a plethora of the world’s biggest industries.
5G technology could help production operations in the manufacturing industry become more flexible and efficient, while enhancing safety. This would enable manufacturers to enhance “smart factories,” which leverage automation, artificial intelligence, augmented reality, and IoT.
5G could lead to innovative solutions in energy production, transmission, distribution, and usage. It is also expected to unleash the next wave of smart grid features and efficiency. With more connected smart grids, energy management will become more efficient, reducing electricity peaks and energy costs overall.
Farmers around the world are using IoT technology to optimize agricultural processes such as water management, fertigation, livestock safety & maturity monitoring, crop communication, and aerial crop monitoring. 5G technology could lead to increased adoption of IoT devices that make this possible. 5G could provide real-time data for farmers to monitor, track, and automate their agricultural systems, resulting in increased profitability, efficiency, and safety. In a high-risk industry such as agriculture, these increases in production and precision are vital, especially as climate change poses new threats to farmers around the globe.
Mobile shopping has become incredibly popular among consumers worldwide. 5G could open the door to VR dressing rooms as well as mobile AR experiences in stores and at home. 5G’s low latency enables mobile AR/VR applications without the motion sickness some experience when using the technology today. With 5G, it will be possible to try on an array of outfits virtually from the comfort of your home.
As financial institutions increasingly focus on mobile operations, 5G technology is poised to accelerate this digitization, from internal operations to customer engagement. The increased speed made possible by 5G could allow users to make payments transactions instantly on their devices. 5G connectivity could also allow wearable devices to share biometric data with financial services to authenticate user identity instantly and accurately.
There are many ways in which 5G could improve healthcare around the world, while increasing efficiencies and revenue for the healthcare industry. The healthcare system needs faster, more efficient networks to keep up with the huge amounts of data it deals with, from detailed patient information to clinical research to high-resolution MRI &CT images.
5G could also enable remote monitoring devices, like wearable tech, to have much longer battery lives while they send patient health data to doctors in real time. Remote robotic surgery could improve, as well. Because these procedures require high-definition image streaming, low latency and high throughput communication are essential. 5G networks could facilitate remote surgery procedures as they enable lag-free and ultra-fast connections.
Connecting public and private vehicles with 5G could change the way people and goods travel around the world. 5G technology could provide increased visibility and control over transportation systems, from public buses to private logistic fleets. As 5G networks become more prevalent, cities will gain invaluable access to real-time, end-to-end visibility into their transportation systems. 5G could allow enhanced vehicle-to-vehicle (V2V) communications, a key component to improving road safety in the emerging world of autonomous vehicles.
5G could help insurers across the board make decisions more effectively and efficiently. With more efficient data sharing, health and life insurers could make more informed and accurate decisions when it comes to providing quotes. As wearable 5G-connected healthcare devices gain popularity, health insurers could offer “positive reinforcement” policies, where premiums would be reduced if a certain level of activity or fitness is maintained. (While remote monitoring exists today, the technology is limited by the capacity of the network to handle massive amounts of data, and stands to gain from a higher capacity and more efficient 5G network).
5G has the potential to transform how children and adults are educated. As 5G paves the way to better AR/VR experiences, teachers could use these technologies in a variety of new education techniques. AR/VR educational platforms provide a number of benefits over traditional educational methods, including cost effectiveness, lower risks, and increased retention.
The real estate industry could be impacted as 5G paves the way for emerging technologies like AR and VR. Real estate agents could begin offering virtual home tours. Prospective buyers could use virtual reality to view several homes without ever having to step outside of the brokerage’s office. For those looking to purchase or rent property in a different state or country, accessing VR tours via a mobile application would prove invaluable. Individuals could virtually tour vacation rentals before booking, for example. 5G technology would allow for these applications to run more efficiently than any existing process today.
Installing 5G-enabled IoT sensors on products could easily make a large amount of data could available to stakeholders in the supply chain in real time. The data may include location, temperature, moisture, pressure, and other information that can be crucial to properly managing products in a supply chain. Introducing 5G IoT sensors into supply chains could mean fewer losses due to manual inefficiency or misplaced containers. As 5G technologies introduce more intelligent supply chain management, there could be potential for increases in production, streamlined logistical processes, and reduced costs.
The way restaurants interact with customers, prepare food, and deliver meals will continue to evolve as 5G gains adoption. 5G-enabled IoT devices could improve food tracking and waste disposal. Ordering platforms, from menus to drive-throughs, could evolve into more immersive and interactive experiences for customers, as 5G allows enhanced performance with better speeds and lower latency. Kitchen employees could be trained using 5G-connected AR/VR experiences, saving valuable inventory. 5G connectivity could also finally enable widespread adoption of robotics in restaurants.
5G could play a key role in transitioning display advertising toward social immersive experiences, bringing content and audiences closer together.
5G could help marketing and advertising transition from banner-based ads to moving images and video. It could even give rise to new ad formats in VR and AR. 5G could also make it possible to measure ad effectiveness in real time through eye tracking and biometrics.