The world seems to be forever shrinking. Almost anything can be done with just the push of a button. No matter where you are, all that you require is an electronic device with a good internet connection; data can reach you within microseconds.

Over the past decade, this dramatic restructuring of time and space has innovated several ways to connect with one and another. Devices of every shape and size can share information with each other. From home appliances to highly advanced manufacturing machines, all things electronic have seemed to evolve, over the years, to perform tasks efficiently, with minimum human intervention.

This prominent trend in technology has a name to it – the Internet of Things (IoT).

The number of connected devices is set to jump from 700 million to 3.2 billion by 2023. The flexibility and power that IoT-powered devices have offered is astounding. And now, with the advent of 5G technology, IoT may be able to finally unlock its limitless potential.

The Rise of 5G Technology

As the trend suggests, we can expect a lot more devices to become interconnected. The key to ensuring that these connections between devices and people are strong is a stable network that can handle the battery life, speed and data loads that these devices require.

5G technology can not only easily accommodate these devices but also transform modern-day businesses and workplaces to perform more efficiently in very less time.With great capacity, lightning speed and minimal response time, 5G can append old business models and create new ones that are “smarter”.

By the end of 2025, 5G is expected to have 2,6 billion subscriptions– which will make up to 65% of the world’s population. If businesses and policy-makers make the right decisions, the global economic value of IoT within the next 5 years could be anywhere between $3.9 trillion to $11.1 trillion a year.

This is the right opportunity for businesses to adopt new technologies and stay competitive within their market spaces. Here are some of the upgrades that 5G can offer businesses.

  1. Greater Data-Transfer Speeds

5G will replace cables by operating on the cloud. This will enable devices with 5G technology to transfer and receive data with lightning-speed. Through the use of cloud computing, devices can also reduce their dependence on internal memory.

Reports suggest that 5G networks are 100 times faster than 4G, delivering 10 gigabits per second. That means what takes 50 minutes, on an average, to download over 4G network will be reduced to just 9 minutes.

This high-speed connectivity can especially benefit smart vehicles and vehicle infrastructure such as connected cars and trucks where a split second delay can be fatal to the driver. Through 5G, the number of accidents can be significantly brought down.

  1. Greater Network Reliability  

Along with a boost in its speed, 5G technology can create networks that are more stable. 5G offers an unstoppable power to devices with uptime of 99.999%  and <1 millisecond latency.

The reliability of 5G networks are enhanced with three main features – Enhanced mobile broadband (eMBB), ultra-reliable low latency communication (URLLC) and massive machine type communication (mMTC).

The home automation industry can greatly benefit from 5G networks as it offers greater security and lowers the risk of technical glitches. Using intelligent resources, any person can have access to a data centre from anywhere across the world with zero lag or downtime.

  1. Lower Latency

Latency refers to the delay that occurs between sending and receiving information. 5G technology offers to reduce latency by time in comparison to 4G networks. This will enable us to control more devices remotely where real-time network performance is crucial.

This means businesses can remotely manage heavy machinery remotely in hazardous environments, therefore ensuring workers’ safety. Doctors can also perform remote surgeries with the help of intelligent medical instruments.

  1. Network Slicing

5G will allow users to create virtual networks (called subnets) that can cater to the specific needs of the user. Each network receives a set of unique resources suited to fit the needs of that application alone. These resources cover SLA-specific factors like speed, and capacity.

This will help deploy 5G systems more quickly as fewer functions need to be deployed, allowing faster performances. This could mean that security monitoring companies, for example, be guaranteed the full delivery of their camera data using multiple connectivity and processing options for the device.

Businesses have excelled in creating devices that can connect with each other and share real-time data. But managing the growing number of IoT, including sensors, heavy duty machinery and consumer electronics, requires innovative business models. With the advent of 5G, companies need to transform their workspaces in order to fully utilise its opportunities. This next-gen technology is set to revolutionise almost all sectors, including security and entertainment and businesses need to adapt to this change quickly in order to stay relevant in the long run.