What Lies Ahead For The Global 5G Market?
With the rise in internet of things (IoT) and connectivity generating unimaginable amount of data, 4G network and speeds are going to become obsolete and it will be mandatory for large corporations, banks, and financial institutions to upgrade their infrastructure to adapt to the upcoming 5G reign. But are we prepared for it? Take a look at some of the ongoing movements in the industry to embrace the 5G revolution.
As per a market research report published on the official website of market intelligence firm, Research on Global Markets, the global 5G market is expected to reach a value of USD 277 Bn by 2025 expanding at a compound annual growth rate of nearly 111% year on year during the period of 2019 to 2025. This is the power of 5G which will be rendered upon streaming devices and telecommunication industry. Let us look at some significant changes that are going to take place once the complete roll out of 5G takes place all over the world, even though it may take some time for a full adoption worldwide.
1) You can ditch wires and any other form of connections which require you to dig a whole in the wall. Once the 5G network is up and running, internet speed and network latency are going to be so productive that all anyone will need to connect with the internet is a mobile phone and begin streaming high speed internet connectivity. The revolution it is going to bring in this semi connected world of today is unimaginable.
2) The gaming industry is likely to quadruple on the back of the global 5G Market. Developers will have a field day as their biggest challenge of disseminating updates at a mass scale will be wiped away. It will take less than 1 millisecond for games like PUBG that face a latency of 10 milliseconds. Its an extraordinary feat for competitive gaming.
3) Finally, advanced technologies like artificial and virtual reality will be realized to their full potential. Imagine what that can do to Aerospace and Defence services and the healthcare industry that use these advance technologies for training and remote monitoring requirements. Thanks to the arrival of the global 5G Market.
4) Blockchain, touted as the solution to many financial challenges that the world faces today will find more takers and become mainstream. In the form of bocks, large financial transaction at high speed and zero latency will become a norm and it will also create many additional sources of revenue generation for various countries.
5) The manufacturing industry will see a deluge of automation and smart factory innovation being carried out due to the implementation of the global 5G Market, from simulation of factory process to training needs and to even remote controlled tethered and untethered robots who can get involved in production as well as supply chain will take over the manufacturing industry.
The 5G revolution will impact the above trends and do much more than you and I can anticipate at this moment due to our limited imagination. However, the road to a complete implementation of 5G is not simple there are many challenges in the way which we will talk about in our next article.