The world has started seeing the development of a ubiquitous wireless network that will marry data collection and computation with billions of devices. This will provide us with unprecedented insights and abilities that will change what we do and how we do it. This network is called 5G (Fifth Generation Mobile Technology).
It is expected that 5G networks will be at least 100 times faster than current 4G networks and less than one-thousandth of a second reduced latency. Fifth-generation (5G) mobile technologies represent the next iteration of mobile communications technologies that were designed to enhance current (e.g., 3G, 4G) mobile networks. 5G networks are expected to be quicker, of greater capacity, and therefore able to support new options and services. The Consumer Technology Association notes that you can download a 2-hour film in just 3.6 seconds at this speed, compared to 6 minutes on 4G or 26 hours on 3G. 5G promises a world of new opportunities for individuals and businesses.
The possibilities of what 5G technology would impact is unfathomable, and the impact is far-reaching.
5G has the potential to unlock up to $12.3 trillion of revenue across a broad range of industries with enhanced indoor wireless broadband coverage, augmented reality and virtual reality, asset tracking, and autonomous vehicles. That income figure is almost proportionate to add up to U.S. buyer spending in 2016, and more than the consolidated spending of China, Japan, France, Germany, and the U.K. This income likewise speaks to about 4.6% of all worldwide genuine yield in 2035.
5G network will dramatically extend cellular coverage into a broader range of structures including buildings, hospitals, industrial parks, large venues and low network areas. Also, 5G network will provide an improved capacity to handle a significantly greater number of devices using high volumes of data, especially in highly localised areas. This means that end-users will have improved and more consistent experiences using mobile broadband applications, irrespective of location.
According to the landmark research project commissioned by Qualcomm and conducted by independent, third-party research firms IHS Markit, Penn Schoen Berland, and Berkeley Research Group.
A few major findings from the study are:
It will inspire new growth.
The 5G Global Value Chain, including network operators, core technology and component suppliers, device OEMs, infrastructure providers, and content and application developers, is expected to grow output to $3.5 trillion in 2035 — larger than the entire mobile value chain is today. China will contribute the most in gross output, with the U.S., Japan, Germany, South Korea, France, and the U.K following, in that order. Researchers also foresee 5G supporting 22 million jobs around the world.
5G’s deployment in enhanced mobile broadband applications, massive IoT, and mission-critical services will fuel sustainable long-term growth in annual global GDP. Between 2020 to 2035, the total contribution of 5G to global GDP is predicted to be equivalent to an economy the size of India today — the seventh-largest economy in the world.
It will accelerate innovation.
People are confident in connectivity’s next renaissance: 91% of the study’s respondents feel that 5G will enable new products and services that are yet to be invented. They believe 5G will stimulate innovation, and the technologies and inventions inspired by it will lead to smarter homes and cities, and even healthier people.
The next generation of mobile will inspire the emergence of new industries as well as impact existing businesses and the products and services they design and manage. Business leaders feel strongly about 5G’s promise: 92% think 5G’s ability to protect sensitive data is important, while 91% value its potential to deliver ultra-high reliability. And nearly 70% are concerned that without 5G, their country will become less competitive globally.
WHY DATA CAPTURE NEEDS SPEED.
Enterprise data needs change continually yet at conflicting rates, and in recent times, changes have come at an expanding cut. Instruments once thought to be helpful for huge data applications are no longer adequate.
Two propensities have risen out of this development: firstly, the variety and speed of information that enterprise requires for basic leadership keep on developing. This information incorporates value-based data, yet in addition business information, IoT measurements, operational data, and application logs. Secondly, the present-day enterprise needs to settle on those choices progressively, in light of such gathered data.
Big data was focused on data capture and off-line batch mode operations, modern “fast data” reduces the time between data arriving and data value extraction. Real-time event processing is the opposite of batch data. In real-time fast data, individual events are processed as they arrive, and we talk about a processing time of milliseconds or even microseconds … IMAGINE THE BUSINESS IMPACT THIS WOULD MAKE.
Also, 5G is a great enhancer of AI and ML as it gives a diverse approach of building topnotch systems and also improving existing ones, which would change the way data is captured.
5G technology has three technological characteristics that will enable it have a significant impact on Data capture. These are:
1) low latency, 2) high reliability, 3) the ability to support a plurality of devices and sensors, and to translate information from these devices and sensors into critical and meaningful data points.
The effects of these characteristics will be felt equally in both the delivery of mission-critical services, capturing/analysis of data and data automation.
More importantly, 5G and Data capture will definitely unlock new possibilities for data collection and analysis, the impact will be felt by all businesses, all individuals, all sectors and all government parastatals.
Are you, or your organization passionate about data? collecting it? collating it? verifying it? analyzing it? then you are the kind of people we write for. Follow our publication, and you would gain knowledge on everything data, from the process of easy capture to the end goal of making data-driven decisions. Find out about our company SEAMFIX and how we solve big organizational issues with third-generation solutions HERE.