“The 2022 Ericsson Mobility Report forecasts 5G subscriptions to reach 4.4 billion globally by the end of 2027, accounting for approximately 48% of total global mobile subscriptions.” – TechTarget
The 5th generation of mobile networks has been created to meet the massive growth in data and connectivity. With its fast response time, 5G is opening up a world of digital possibilities for businesses across sectors. Here’s a look at some of the more interesting trends to watch out for in 2023.
What are the business trends in 5G?
When it comes to 5G, businesses now have access to much more data which means they can perform data-driven analysis and make more informed business decisions going forward. Here are some other trends you can expect to emanate from this communication technology.
1. Smart retail technology
We will see more brick-and-mortar retailers and warehouses implementing smart technology such as shelf sensors, QR codes, and cashier-less checkouts. 5G will also facilitate augmented reality (AR) and virtual reality (VR) which provides connected experiences across vast distances. In the retail sector, VR and AR can allow retailers to differentiate themselves from the competition as they provide much more enhanced shopping experiences.
2. Improved supply chain
Considering the disruption to the supply chain recently as a result of Covid, global conflict, political instability, and the climate crisis, building more resilient supply chains is vital for business in 2023. The implementation of 5G will allow for incredibly reliable machine-type communication (MTC) which connects various devices using IoT sensors throughout the supply chain. This provides logistics companies with better oversight, less disruption, and more profitability.
3. Improved healthcare
The healthcare sector is also set to benefit from 5G in 2023 as the aforementioned supply chain optimisation ensures the timeous arrival of healthcare equipment and medicines. In addition, 5G will facilitate the management of electronic medical records, with 5G-compatible devices advancing day-to-day operations.
4. Remote healthcare
A really interesting trend in 5G will be through the ‘tactile internet’ as it’s known. By combining the low latency of 5G with its increased reliability and security, we will see surgeons actually able to conduct operations, from afar, across the globe. Essentially this 5G-connected equipment mirrors the movement performed by a physician on a remote patient. This means that people, no matter where they are in the world, would eventually have access to the best medical care. For those in rural locations where healthcare is limited, such developments would be lifesaving.
5. Smart offices
Through machine-to-machine communication support by 5G, we’re going to see the emergence of smart offices at a much higher rate in 2023. Information sharing between office equipment will enhance collaboration, minimise disruption, and reduce costs related to energy use. We’ll also see 5G facilitating more intelligent mobility systems such as car-sharing services, as well as trucking and shipping.
6. Stronger cybersecurity
With increased data volume comes increased data risk which is why we’re seeing a massive rise in regulations around online privacy and security. In fact, 137 out of 194 countries have put legislation in place to secure the protection of data and privacy, such as South Africa’s Popi Act. In 2023, we will see businesses implementing much stronger cybersecurity measures to protect themselves, and their customers. For those in the telecommunications industry in particular, there will be more measures put in place to protect data such as blockchain.
Keep up with the latest in 5G trends by connecting with ECN, the leaders in voice and data solutions!