Mumbai: Meta Description: The integrated ecosystem of 5G and IoT (internet of things) has the potential to revolutionise business fortunes if these new technologies are coupled in a synergistic manner.
What do the numbers say about 5G and IoT integration?
Take a look at the data below to see the great potential that 5G technology integration in IoT devices offers:
• According to Cisco, in the near future, 500 billion IoT devices will be integrated with 5G technology. This figure comprises, among other things, sensors, actuators, scanners, and medical devices.
• Ericsson AB, another reputable brand in the IT business, forecasts that by the end of 2022, 550 million 5G customers will be part of the current iteration of mobile broadband. According to the analysis, 5G integration in IoT devices will see an unparalleled hike in the next few years.
• Asia Pacific will become the 5G network's second-fastest expanding hub, accounting for around 10 per cent of worldwide customers. This change in the customer segment will spread to the industrial sector, catalysing the use of 5G in IoT devices.
What exactly are IoT and 5G technologies?
The potential of 5G technology and its ramifications for IoT devices have piqued the imagination of information technology professionals. Given the projected increase in the number of IoT devices from 16.4 billion to 30.9 billion units by 2025, the growth of 5G technology is essential for flawless communication among these vast numbers of devices.
The fifth-generation network, or 5G technology, is the next version of the broadband cellular network. It can provide larger bandwidths and data speeds of up to 20 gigabytes per second (20 Gbps). The 5G network, when combined with IoT devices, has the potential to revolutionise the faces of many organisations across industries. Healthcare, transportation, energy and power, and education are just a few of the industries that stand to benefit greatly from the combination of 5G and IoT devices.
Data aggregation and information extraction from IoT devices
IoT devices are critical for gathering, aggregating, and analysing data from a wide range of sources. This data is subsequently analysed, resulting in the extraction of actionable information that may be used to make critical organisational strategic and tactical decisions.
Consider the application of IoT devices in the healthcare industry. Today, IoT devices record a wide range of customer data at hospitals, health centres, infirmaries, and other facilities. The acquired data is then used to extract information about patients' various health factors, such as age, gender, health concerns, and so on. As a result, this data is used by a variety of stakeholders, including doctors, patients, pharmaceutical companies, and medication marketers, to develop policy frameworks, action plans, and market strategies.
IoT and 5G: complementary forces
All data collection and aggregation can now be done more efficiently if IoT devices are seamlessly connected with one another, which is where the importance of a fast and reliable 5G network comes into play. Because of the 5G network's high-speed data transfer, IoT devices can work significantly more efficiently than they can with 4G networks. To summarise, for IoT devices to reach their full potential, a fully matured and evolved 5G network is required.
In terms of benefits, 5G technology and IoT devices have the potential to transform the fortunes of numerous companies. The following are some concrete highlights that demonstrate the great potential that integrating these technologies can provide businesses:
1) 5G technology has made a name for itself due to its unique efficiency, speed, and latency characteristics. Furthermore, 5G technology provides superior safety and security, which, when combined with next-generation IoT devices, can enable significant leaps forward in autonomous driving, drone operations, virtual reality, digital finance, and a variety of AI applications in various sectors.
2) 5G networks will primarily benefit enterprises in the healthcare, education, transportation, supply chain, and manufacturing industries. The adoption of 5G-enabled IoT devices in the healthcare industry is already increasing at an exponential rate. The convergence of 5G and IoT in the education industry will result in a more interactive virtual learning and immersive experience for students. Transportation and logistics will profit from the convergence of these new technologies as well, through the use of real-time tracking, electronic data interchange, and automatic stock replenishment. The manufacturing industry may use the concept of remote access, repair, and maintenance in IoT devices via high-speed internet, which will be truly transformative for the business.
The need for a comprehensive 5G and IoT ecosystem
We need to establish an integrated ecosystem of 5G networks and IoT devices to achieve the full potential of 5G and IoT devices. Only with the seamless integration of both of these technologies will industries be able to make huge leaps across the value chain. From raw material procurement to product manufacture, and from sales and marketing to actual client purchasing, we must endeavour to create a comprehensive ecosystem. As a result, businesses across their value chain and participating stakeholders will benefit from synergies.
The author of the article is Altorum Leren co-founder and CEO Prateek Shukla.
