When it comes to business, one thing is for certain — 5G is about much, much more than faster smartphones
5G is set to improve the smartphone experience, making it faster, smoother and more reliable with its high speeds and huge data capacity combined with low latency. However, 5G isn’t just about faster smartphones. Heralding a massive technological step up from 4G, 5G will have a far bigger impact for businesses than previous cellular network transitions.
From a business perspective, 5G will be hugely transformative, with the 5G value chain reaching an impressive $2.5 trillion by 2035, according to ABI Research. Next-generation connectivity will give organisations improved abilities to connect smart technology and pull together disparate data that can provide them with better insights and new opportunities.
5G networks will help organisations transform their daily businesses in three key ways. Firstly, they will help to improve the customer experience thanks to game-changing services with high reliability with ultra-low latency and personalised content delivered at high speeds.
Secondly, 5G will help organisations to disrupt markets by enabling completely new business models and revenue streams. In a similar way, cab-hailing app Uber capitalised on the improved data speeds of 4G enabled services that would not have been possible before.
Along with much faster data speeds for smartphones and other devices, 5G will unlock the full power of IoT (Internet of Things) technology with its massive data capacity that enables billions of new connected devices. In short, your biggest rival may be someone you’ve never heard of. Along with launching entirely new types of products and services with better scalability, 5G will enable real-time customer data and insights, as well as accelerating time to market.
Thirdly, 5G networks will help businesses to transform their operations, whether that’s enhancing productivity with smart technologies, streamlining costs with automation and machine learning or identifying new opportunities using Artificial Intelligence.