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How will 5G
affect business?

As 5G continues to ramp up across the country, it is important for businesses to continue to monitor the development of 5G technology and networks. Read on to learn how 5G will affect businesses and what the impact of 5G will be on business growth and development.

How will 5G affect different business industries?

5G is important for a variety of industries, from agritech, healthcare and manufacturing to utilities. One of the most important ways 5G will impact all of these industries is by increasing our customer’ capacity to ingest and process data while simultaneously extending the reach of mobile broadband. The speed of 5G and low latency will help with improving virtual reality, augmented reality and extended reality applications potentially making them more ubiquitous visualizations tools in the future. In addition, Verizon’s 5G Ultra Wideband network is designed specifically  to help safeguard critical systems and network hardware from any kinds of disruptive or destructive latency problems.

It is commonly accepted that 5G will help power the Internet of Things (IoT). As businesses are connecting more of their products to virtualized networks through 5G, applications, like digital assistants, smart hubs on refrigerators, and connected cars can become smarter and more valuable tools. These devices are just the beginning, though—the IoT landscape holds great promise beyond devices in smart homes, we expect to see various industries experience improvements in both efficiency and productivity as smart offices, smart factories and smart cities become more prevalent.

5G-powered IoT will enable $12.3 trillion of global economic output and support 22 million jobs worldwide by 2035 due to the digitization of transportation, agriculture, manufacturing and other physical industries. This is huge for all of these industries as 5G will help streamline and modernize many of these industries processes.

What will be the overall business impact of 5G?

For Healthcare

5G is anticipated to become more than just another network for hospitals and physicians to use; instead, the healthcare industry will greatly benefit from 5G through a variety of applications. For one, 5G may power remote physical therapy for those who otherwise wouldn’t be able to leave their homes. Next, it can power remote surgery for patients who are unable to travel great distances to receive the treatment they need. 5G can also make hospitals, care facilities and rehab hubs smarter through wireless-enabled machine learning robots to coordinate schedules, communicate and assist nursing staff.

For Manufacturing

Manufacturing, the factory floor and robotics will see a great impact from 5G. The low latency of the 5G Ultra Wideband network coupled with Multi Access Edge Compute (MEC) could offer increased capabilities; autonomous vehicles and intelligent robots could improve productivity; and connected machinery is expected to exponentially increase both precision and ultimately, profit. Manufacturers should be able to leverage visualization tools to help conduct remote high quality inspection, improve tracking and identify efficiencies in near real-time. 5G’s low latency and high throughput coupled with MEC’s ability to process massive amounts of data are also expected to help reduce injury and minimize production downtime—by helping to almost instantly stop machinery from operating when an alarm is triggered.

For Entertainment

While manufacturing and healthcare are important industries for improving our everyday lives, entertainment is also an important industry that 5G will affect. Consider gaming: 5G will assist in reducing lag time, or the delay caused by high network latency, and developers will use the technology to continue to evolve the industry. Streaming videos and movies will also be easier and smoother thanks to the low latency of the network. We’ll see minimal buffering, even with ultra-high-definition 4K content.

Learn more about 5G and all the benefits with help from Verizon.