What You Need to Know About 5G and the Internet of Things
The fifth generation (5G) of mobile technology is rapidly approaching, and with it brings promises of vast and accelerated evolution to the Internet of Things (IoT) as we know it.
By 2020, it is estimated that between 20 and 40 billion devices will be connected to the Internet as part of the Internet of Things. Here is what you need to know about 5G and the Internet of Things.
With Sprint vying to have its mobile 5G network as early as 2019, this fifth generation is quickly approaching, ready to drastically change the IoT and how we engage with the devices that utilize it. Now is the time to start creating a roadmap to 5G. Read on to find out how you can ensure your business can capitalize on the new opportunities this fifth generation technology will bring.
What is 5G Technology?
5G represents a new generation of mobile and network technology. And it promises to deliver more than just faster speeds on phone networks. Industry experts anticipate 5G’s biggest impact to be on the IoT. In addition, they believe it soon to become the biggest driver of the IoT’s growth and expansion.
This new fifth-generation network can transmit data up to ten times faster than the current standard that is 4G/LTE. Where 4G developed high-speed connections needed for streaming video and data, 5G is projected to bring even faster speeds and increased connectivity.
From self-driving cars to internet-connected homes, the combination of 5G and IoT will connect even more people and devices. According to Juniper Networks, it is estimated that the number of IoT-connected devices will grow into the tens of billions.
To further paint the picture of this fifth generation and its interconnectivity to IoT, approximately 22.5 billion IoT devices will be installed globally by 2021. This innovation will ultimately reshape and disrupt the technology industry — even society.
Why You Need to Care About 5G and Its Impact
Are you questioning why you should be concerned with this fifth generation and be an early pioneer of this network evolution? The answer is simple: Anything that requires access to the internet will ultimately be affected by this fifth generation technology.
And to put it simply, the network tech in place today isn’t fit for the future of Industry 4.0 and IoT. With 5G, data can be transported at faster speeds than 4G. And perhaps the biggest appeal of all its promises is that it can reach these high speeds at a relatively low cost and energy consumption.
All of these 5G capabilities will be critical in powering and evolving IoT technology such as self-driving vehicles, artificial intelligence (AI), phone networks, computers, robots and more.
As it relates to the mobile payments industry, companies are already experimenting with future capabilities of this fifth network. Intel recently demoed 5G facial-recognition payment technology, which can drastically alter the FinTech industry.
Because of this, companies largely support the creation and advancement of IoT in congruence with 5G, as they seek to be a part of the inevitable boom that will become Industry 4.0. By 2021, 70% of Global 2000 companies will spend upwards of $1.2 billion on connectivity management solutions to meet the need of 5G’s broad enablement of IoT.
When is 5G Launching?
If 5G seems like a technology reserved for the far away future, you’d be wrong. At this year’s Winter Olympics in Pyeongchang, 5G was utilized by Samsung and Intel to stream virtual reality coverage of the games.
As of 2018, it is well on its way to coming to fruition in the United States. The CEO of Sprint announced in February that the company will launch its mobile 5G services nationwide by the first half of 2019.
As the number of digital devices such as smartphones grows and and evolves, the current network will need to evolve into 5G in order to keep pace with IoT technology. According to Juniper Research, the number of IoT-connected devices will “stretch into the tens of billions”.
The technology behind 5G and the Internet of Things makes the combination a powerhouse — disrupting the tech industry and daily lives of consumers. The fifth generation network will further accelerate the efficiency and increase of the number of connected devices. Not to mention the massive increase in data as the network surpasses 4G speeds.
It is an exciting time for the mobile industry, and it is important to ensure your business is equipped to evolve into this next generation.
Future-proof your business and stay at the forefront, by learning from top innovators and thought leaders in 5G technology, the cloud and the impact on the IoT. Attend this year’s Mobile Payments Conference to learn more about how the world of mobile technologies are evolving. Get your Mobile Payments Conference 2018 tickets today.