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.