Qualcomm research suggests that every year an investment of $200 billion will be made in 5G technology space, which would yield economic output worth $12.3 trillion globally by 2035. It also predicts that there would be 22 million jobs in the 5G field by then. Because of such opportunities, the demand is increasing for telecom engineers who are 5G-ready.
When the world is 5G-ready, it will have an impact not only on telecommunications but consumers, cellular tower companies, connected device makers, network equipment suppliers, besides media companies, as it will bring about the convergence of cloud computing, artificial intelligence, big data, etc.
Significant changes that 5G will bring about include facilitating video content of high-quality on mobile devices, such as virtual reality and 3D. It will also improve the scope of applications that the Internet of Things (IoT) can offer. In addition to consumer products, 5G will enable connecting IoT to supply-chain coordination, industrial agriculture, and city traffic flow. This technology is also expected to reduce the network latency, or break, to just one millisecond as against 20 to 50 milliseconds in 4G, enabling almost real-time communication.
The most critical change 5G wireless technology will bring about in telecom will be blurring the divide between wireline and wireless networking, which will help embrace the exponential growth of mobility of people who use networks. It must be reiterated here that it won’t, however, unite them both.
The advent of 5G wireless technology will ring in benefits, as broadband speeds would be very high and the shared wired and wireless infrastructure would strengthen. Above all, it will bring under the same roof wireline, wireless, and satellite services.
Included in 5G wireless technology would be 4G combined with new radio access technologies, mostly in higher frequencies. It will transform the mobile network space.
With network slicing, a feature of 5G, it would be possible to disconnect sensor-control networks from other wireless users, which would pave the way for securing IoT.
The future in 5G networks landscape
After the advent of 5G wireless networks, businesses will have the capability to provide improved services to clients owing to faster data transfer speeds. As applications of businesses will be able to accommodate more data to move in and move out, they will have the capacity to accomplish more than one can imagine. It will, in turn, enable technologies of businesses to be more dynamic for people who are working remotely, as they would depend on mobile technology, enabling them to be more efficient.
Businesses will be in a position to support large projects more conveniently, as well, as a result of more productive digital conferences. This technology will also support IoT technologies much better without burdening an organization’s bandwidth.
Importantly, 5G networks will let businesses across the board to profit more. It will facilitate banks and other financial institutions to process transactions faster and let companies transfer information in quick time.
It safely can be averred that all businesses embracing 5G technologies will see their productivity improving. A win-win situation will emerge for all organizations embracing 5G, as their overheads would reduce and, in the bargain, lead to a handsome increase in their bottom lines.
The other advantages that will accrue from 5G would be the better administration of smart cities, as their administrators will clearly understand how their resources will be used. Meanwhile, it will allow people to transfer their computing assignments from their devices on to their networks. It would help users to free up space on their devices. Furthermore, new technologies like virtual reality will get a shot-in-the-arm because of lower network latency and high speeds.
According to GSMA, a London-based trade body representing the interests of mobile operators globally, the United States will pioneer 5G technology, as it started commercializing it before any other country. It also states in its report, ‘The 5G Era in the US’, that by 2023 America will be home to 100 million 5G connections and 190 million by 2025.
The gig economy’s workforce will rise with the adoption of 5G technology. To hire freelancers from telecom industry in that backdrop, you would require a facilitator who would provide just that. 5G wireless technology fits that description to a T, as it has 35,000 engineers with 700 skillsets from 168 countries.