According to Juniper Research, the number of 5G-based IoT connections will jump dramatically from 17 million in early 2023 to 116 million by 2026. This is a massive increase of 1100%, indicating strong demand for these solutions. The healthcare and city services sectors are set to be the main drivers of adoption for these 5G-based IoT devices. Over 60 percent of all 5G IoT devices deployed globally in 2026 are expected to come from the healthcare and smart cities markets. The investment into 5G-based services is also being driven by a need for modernisation due to Covid-19 pandemic and its aftermath. Telemedicine, connected ambulances, and remote monitoring are seen as key areas that will benefit most from this integration with sensors. As more companies start embracing remote work policies post-pandemic, many see increased reliance on such technology solutions as vital going forward.
More than just providing communication networks, 5G tech has the potential to revolutionise data transfer between connected devices or machines in multiple industries ranging from manufacturing and energy production through to retail and transportation. According to analysts at GlobalData, this will create opportunities in various industrial verticals such as automation, predictive maintenance and quality control to name but a few. The development of ultra low latency technology will be particularly noteworthy in this regard since it can be used for real time analytics as well as closed loop control systems across operations management applications running on 5G networks. It is also worth noting that cities around the world are already beginning to implement measures towards modernising their infrastructure including installing smart street lights, traffic flow systems and public transport management solutions; all of which can operate on low power wide area (LPWA) networks enabled by 5G technology.
This could prove especially beneficial for those living in congested urban environments where timely access to everyday services currently falls short due to inadequate infrastructure or lack thereof. 5G networks are becoming increasingly prevalent with major mobile carriers beginning deployment of their respective high speed services over a range of spectrum bands earlier this year despite slight delays resulting from Covid 19 restrictions; while various leading chipmakers have unveiled products based on these standards enabling broader industry uptake of this advanced level connectivity technology soon thereafter.
This increase in investment into 5G technology is a clear indication that society’s need for rapid communication and data transfer has grown exponentially in recent years, making it one of the most important advancements made by telecom providers today. And with the availability of reliable nationwide coverage expected in large parts of global markets over the next few years – combined with new advancements being made all the time – it would be wise for businesses everywhere looking for ways stay competitive moving forward not overlook its potential for innovation solutions further down the line either.