5G Technology Roll Out Will Cause a Huge Progress in International Trade

5G technology is ushering in a new era of connectivity. 5G, or the 5th generation of communications, is the latest mobile broadband network standard to roll out worldwide. The latest generation was 4G LTE, which was introduced in 2010, allowing video content to be sent over mobile communications and data rates to be increased.

As existing technologies develop and new ones appear, the world is eager to get instant access to the network and have the fastest possible Internet. To allow devices to keep up with the times, developers are constantly trying to improve the performance and speed of human-machine interaction.

One such big win for modern world is the roll out of 5G, which has been gaining a lot of attention lately not only for its ability to expand mobile broadband but also for fear that it could lead to digital disruption in several industries. 5G is an improved type of communication, the data transfer rate is several GB per second, the latency (web application response time) is significantly reduced - up to several milliseconds, the network bandwidth and connection density are increasing. All of these parameters are critical to the operation of the Internet of Things (IoT) and have their own security benefits.

Currently, 5G is only available in a few countries: South Korea, China, the US and Australia, it has a limited deployment area yet but is estimated to cover 65% of mobile subscribers worldwide. Industries are expected to benefit greatly from 5G connectivity, especially as cloud computing rolls out at scale around the world.

Industries in the World Will Benefit the Most From 5G Networks and Accelerate Their Adoption.

The speed of international trade has increased with every generation of wireless mobile connectivity. Nevertheless, the 5G release will spur innovations in every area of the global economy, propelling it to new heights. Here are a few ways that show how 5G impacts international trade.

1. Impact of 5G on industry and manufacturing

Full monitoring of the operation of key nodes in the enterprise can be implemented using a large number of IoT sensors. Such devices must send indications of the operation of a node, machine or conveyor line in real time with a high frequency.

Existing technologies are not able to support a sufficient density of sensors, while 5G standards can accommodate up to 1 million devices per 1 sq. km. In addition, powerful local networks are needed to process the huge amount of information coming from sensors, and the architecture of 4G networks is in principle not adapted for virtualization and deployment in the cloud. This makes current private wireless networking scenarios limited and costly.

The 5G core was originally designed to be deployed and managed in the cloud, both public and private. The use of this technology instead of Wi-Fi when deploying your own microgrids will increase their performance (speed, availability and reliability), improve security through two-factor authentication and reduce costs: commercial installation of 5G networks is cheaper than Wi-Fi.

2. 5G Technology Makes a Breakthrough in the Automotive Industry

While the world is waiting with bated breath for the self-driving car industry to make its belated revolution, 5G has the potential to help the industry.

New generation networks will give impetus to the development of unmanned vehicles. Cars controlled by artificial intelligence, unlike humans, are not subject to fatigue and reduced concentration, which, coupled with algorithms for quick response to unforeseen situations, ensures traffic safety.

However, do not forget that unmanned vehicles also need a stable Internet connection with a wide bandwidth and a minimum data transfer delay - the possibility of a timely response of the car depends on this. 4G networks are not able to provide the network access parameters necessary for security, while 5G towers will create the proper Internet signal.

The use of next-generation communications will lead to the mass distribution of autonomous machines. The first step will be the production of traditional self-driving cars. This will allow the technology to spread smoothly, and unmanned taxis and delivery services will follow. Over time, they will become the standard for the automotive industry. This is where the potential of the worldwide roll out of 5G technology lies.

3. Use of 5G in Healthcare

The coronavirus pandemic has shown how critical health services are for every person on earth, and what can happen if not enough attention is paid - in terms of technological innovation, resources and training - to this critical service.

We should expect a rapid development of start-ups in the field of telemedicine and digital therapy, as well as the evolution of rarer types of technologies in the field of healthcare - remote surgery and spatial computing in healthcare.

In addition, 5G can also facilitate the development of personal technology such as real-time medical data analysis devices and personal wearable health monitoring devices.

4. 5G Is the Energy Revolution

The energy industry is another important sector that is expected to be affected by 5G, in terms of access, management of distribution and use of resources.

5G offers opportunities to enhance smart grid functions to manage energy needs, as well as enable companies to improve energy efficiency and provide remote access through IoT technology. Thus, one of the big energy advantages of 5G is the efficient distribution of energy.
In addition, with its big data analysis function, 5G will help governments manage energy consumption costs and distribute energy efficiently to reduce power loss during work interruptions, as well as reduce resource consumption and costs.

5. A Better Client Experience? 5G Will Make It Possible

93 percent of retail directors consider personalized marketing to be a priority. The 5G roll out will offer a personalized, immersive user experience, as well as maximizing multi-channel sales strategies. VR, AR, connected objects, and robotics will all be deployed as a result of 5G. This will allow businesses to increase contact points with clients, better understand their habits, and offer them a more personalized experience in line with current trends. 5G will revolutionize retail commerce. Solutions such as smart shelves, dynamic pricing, cashier less stores. The Montréal-based start-up Leav offers cashier-free solutions for stores thanks to a combination of IoT, RFID, and AI. And thanks to 5G, the company will be able to gather more data about customers in real time and improve the store experience for them.
 
This list is far from complete. 5G is expanding prospects in financial services, retail, smart city infrastructure, and even agriculture. However, implementing 5G is not easy. People and businesses don't want to spend big money on super fast internet.

Infrastructure upgrades are required, requiring the installation of more cell towers and the provision of compatible devices. All this costs money. Humanity is seriously concerned that the 5G global roll out can cause serious health problems due to the increase in the level of exposure to radio frequency radiation.

But look how communications have evolved - the first generation of communications allowed analog voice, 2G already dealt with digital voice, 3G followed with mobile data, and finally 4G provided mobile broadband. It is obvious that the next step in the development of wireless network technologies is 5G.

The large-scale roll out of 5G will be a real test that will show how the network standard can deliver on its promises. Already now you can see that the world is on the way to mastering new ways of digital communication at powerful speeds.
 
At Exports News, we are dedicated to staying in the loop about international trade and breaking down the barriers to communication about global commerce. As economies worldwide begin to reawaken from the forced slowdown of activity, we hope to keep our viewers informed about trade as part of the solution to the recovery.