What opportunities does 5G present for Small Businesses

Based on Ericsson, by 2024 there will probably be over 1.5 billion of us connected to 5G.  However, 5G technology presents greater than mobile calling or quicker internet browsing.  Increased productivity and the emergence of new industries are extra potential advantages of 5G.

According to the latest research, by 2035 5G technology may support as much as £9.3 trillion worth of products and services in industries such as education, entertainment, healthcare, retail and transportation.  82% of business leaders, analysts and technology experts believe 5G will drive small business growth, with SMEs becoming more competitive though increased productivity, efficiency and ease of access, forecasting SMEs to become more globally competitive.

What is 5G?

5G stands for “fifth generation”. In a hyperconnected world, 5G will dramatically enhance the speed at which data is transferred throughout the network and can enormously broaden the use of internet connected devices.

Not just speed

5G can have an increased data rate of as much as 10Gbps (10 gigabits per second which is a 10 to 100x increase over 4G), quicker than many home broadband companies can provide. This means a full HD film might be downloaded in a matter of seconds.

The significance of a fast connection is only going to increase; subsequently, latency has been considerably decreased to about one millisecond. 5G will give Wi-Fi broadband the capability it needs to support the ever-increasing variety of Internet of Things (IoT) devices that can shortly reach our homes and workplaces.

Businesses will benefit from up to a 90% reduction in network power usage and as much as 10-year battery life for low energy IoT devices, offered by 5G technology.

What do we know?

Some of the potential uses that 5G will unlock are:

Remote Surgery – 5G might make an infinite difference in offering healthcare to millions of individuals in remote areas, in addition to training medical doctors in surgical specialisms. King’s College in London is already testing 5G-compatible prototypes of touch-sensitive gloves connected to remote robots.

Self-driving vehicles – Improved latency will enable vehicles to exchange their location, speed, acceleration, direction and steering, smart motorways are already being provisioned in the UK with 5G in mind, with many thinking that 5G will be the importanttechnology to hit the car industry in the last decade.

Drones – Just as 5G will enable self-driving vehicles to communicate to one another, it can do the same for drones, ensuring devices can fly without colliding with each other.

Virtual reality – Creating an immersive virtual experience requires high data throughput and decreased latency because the network must be responsive and provide massive quantities of data.

IoT – The use of IoT devices is ready to explode. There are presently an estimated 6.4 billion connected devices on this planet.  It is predicted that by 2020, 20.8 billion devices will likely be connected.

How 5G technology will help Small Businesses

5G will make SMEs more efficient and lengthen capability to do more in much less time and with fewer resources, consequently, saving costs and increasing revenue.

Many SMEs are already acquainted with the concept of individual mobile working however with the extra capacity that 5G provides, this might allow entire groups to be setup in remote areas in a short time. This could possibly be very useful for new building sites where conventional providers are usually not yet available and would permit a number of individuals to be connected to head office systems

High quality remote video conferencing and surveillance solutions which have historically relied on physically limiting wired solutions, all become a possibility.

National and local broadcasting organisations will be capable to broaden their mobile news gathering and outside broadcasting capabilities and gain advantage from the low latency that present mobile solutions provide.

The most intriguing factor is, equally to how we couldn’t have predicted the advent of companies like Uber or Facebook Live on smartphones, we don’t yet totally know what functions will emerge from using 5G.

When will 5G be accessible?

All main telecom operators are fighting to be the first to market as those at the forefront can expect to increase market share and income streams. 5G is already accessible in some test areas across the UK and EE has just launched its 5GEE in a number of UK cities with more to follow before the end of 2020.

By combining improved capability and cost-efficiency, 5G represents a chance for telecom operators to enhance their consumer business. Networks will even have extra capacity and be more responsive than with earlier generations, which means that more individuals and devices can work on the same network without slowing it down.

However, telecom operators might want to rethink their data plans as current plans are unlikely to have the ability to support the increased download speed 5G will deliver. More limitless data plans like those provided by many home broadband suppliers will become available.

5G technology will likely be one of many major disruptive forces for businesses within the UK and worldwide in the coming years.

In an already connected world, 5G is not going to only stimulate the emergence of start-ups and small businesses, opening the door to the creation of services and products unimaginable before, but will even considerably improve efficiencies, cut back costs and maximise resource capacity for current SMEs.

Most importantly, we are a technology that can empower an entire new variety of applications that may not even be forecasted before it effectively takes off.

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