By: Sumed Marwaha, Managing Director for Unisys in India
In India, the emergence of 5G is not only accelerating digitalisation at the grassroots level but also providing consumers with access to economies of scale. A recent study conducted by GSM Association indicates that 5G has the potential to contribute $455 billion to the Indian economy between 2023 and 2040. Its integration is anticipated to generate new value through “hyperconnectivity,” serving as a driving force for digital transformation across diverse sectors in India. Key industries such as healthcare, manufacturing, infrastructure, retail, energy, and utilities are among the sectors expected to experience substantial benefits from the widespread deployment of 5G technology.
5G a business enabler
5G can provide the foundation for meeting customer experience requirements in competing industries, as customers increasingly expect real-time and personalised interactions. Moreover, it has the potential to significantly accelerate technological advancements. A blend of 5G and intelligent automation can introduce innovative solutions that support the management, monitoring, and maintenance of devices.
Industries such as manufacturing, construction, transportation, aviation, healthcare, logistics, banking, telecom, media and entertainment, and wearable electronics stand to benefit immensely from reliable, fast, and secure connectivity offered by 5G. With its low latency, enterprises may even have the flexibility to relocate parts of their operations to suit their economic needs, whether to tier-two cities or shared infrastructure. The integration of 5G and IoT will play a crucial role in driving the Industry 4.0 revolution.
Enhancement of IoT capabilities
Recognising the mission-critical nature of IoT, a reliable and stable network is crucial, as an underperforming network can result in significant costs for enterprises. This is imperative for linked devices, such as monitoring systems that rely on real-time updates, such as locks and security cameras. 5G provides a faster communication channel capable of several gigabits per second. As a result, the devices can better coordinate and complete tasks. Due to its large bandwidth, it can connect to many devices while maintaining quality.
The implementation of 5G provides IoT service providers with a competitive advantage in delivering seamless user experiences. Today, numerous organisations across sectors, ranging from data-driven traffic control systems to energy management, and even smart waste management, are considering IoT as a solution in conjunction with 5G. According to Meticulous Research, the 5G IoT market is projected to grow at a CAGR of 47.6 percent from 2023 to 2030, reaching $17.68 billion. Some notable use cases include smart cities, autonomous vehicles, medical applications, surveillance, public safety, immersive e-commerce, broadcast, and OTT entertainment.
How can the integration of 5G and IoT enhance business outcomes?
The Asia Pacific region is expected to emerge as the second-fastest-growing hub of the 5G network, accounting for approximately 10 percent of the global subscriber base. This revolutionary progress in the customer segment will also overrun the industrial sector, driving the widespread adoption of 5G in IoT devices.
According to an article in The Times of India, an estimated 500 billion IoT devices will integrate with 5G technology in the near future. This number includes sensors, actuators, scanners, and medical devices, among others, providing a multitude of options for all sectors to integrate and leverage. In the healthcare industry, the emergence of 5G and IoT can enable remote monitoring and diagnosis of patients, significantly improving the quality of care and reducing the need for in-person visits. Likewise, in the retail industry, 5G-enabled IoT devices can deliver personalised customer experiences and improve inventory management, contributing to increased sales and enhanced customer loyalty.
Furthermore, the integration of 5G and IoT holds the potential to empower new business models and unlock revenue streams.
By enabling businesses to collect and analyse massive amounts of data simultaneously, this integration enables a deeper understanding of customer behaviors and preferences, facilitates the development of new products and services, and allows for personalised experiences tailored to individual needs. The possibilities are limitless.
An added layer of safety
Businesses can establish more efficient workflows with the stable and reliable connectivity levels of private 5G frameworks. Unlike Wi-Fi, private 5G networks offer enhanced security, providing a fundamental layer of protection. With features such as hardware security modules, key management services, and secure parts, private 5G networks strengthen network endpoints and ensure the secure transmission of data. The combination of reliable connectivity and advanced security empowers businesses to optimise workflows while safeguarding sensitive information.
Common challenges and solutions
While 5G is poised to revolutionise digital transformation, addressing the vulnerabilities it brings is important. According to a 2021 AT&T survey of 1,000 security practitioners worldwide, only 9 percent expressed confidence in their security postures for 5G.
The interconnectedness of IoT exposes it to security and safety vulnerabilities. Protecting data and devices requires implementing encryption, authentication, and access control mechanisms. Another challenge is the large investment for deploying a 5G and IoT infrastructure. Cost-effective solutions include leveraging cloud-based IoT platforms and working with efficient service providers.
To fully harness the benefits of 5G and IoT, it is crucial to upskill the workforce. Best practices include employee training and education, outsourcing to specialists, and collaboration with industry groups for the exchange of information, driving innovation and development.
The impact of 5G on IoT is revolutionary and the amalgamation of these technologies holds significant promise. Looking ahead, the arrival of 6G technology is inevitable, offering even faster speeds, reduced latency, and more advanced capabilities. 6G will usher in a new era of data technology, building upon the foundation laid by 5G.
