- It doesn’t work as advertised
- It reduces latency (time taken to transfer data from point A to point B)
- Studies show that 5G-enabled businesses potentially record higher profits.
- 5G technology works seamlessly with newer technologies like the Internet of Things (IoT) and edge computing.
What is 5G Business Internet?
When we talk about 5G business Internet, we talk about how the 5th generation of mobile networks is employed in the business world through Internet connectivity.
5G means the 5th generation of mobile networks. When these networks are used for Internet connectivity in the business world, we say we are in a 5G business Internet environment.
So, what’s so special about 5G business Internet?
Superfast Internet Speed
The highlight of 5G networks is superfast Internet speed. In addition, they boast lower latency compared to older mobile networks.
Simply put, latency is the amount of transfer time taken to send data from a sender to a receiver.
The longer the delay between sending and receiving data, the greater the latency.
The quality of a mobile network is measured by its latency. It is measured in milliseconds.
Low latency results in faster response times. They are important for the effective functioning of real-time and interactive applications.
History of 5G Networks
The 5G standard was first laid down in 2018 by the 3rd Generation Partnership Project, also known as 3GPP.
5G networks were commercially rolled out beginning in 2019.
Since then the availability of 5G network services has increased based on location and the number of providers.
Some 5G service providers are serving the consumer market. And depending on demand, others are serving the business community.
As more and more businesses are leveraging the power of the Internet, 5G use is expected to become the norm.
The statistics below point in that direction.
Potential of 5G Business Internet
As of September 2021, the Global Mobile Suppliers Association (GSA) recorded 653 commercial 5G networks in 208 countries.
Cellular phone giant, Ericsson, predicts that by 2026, 5G subscriptions will touch 6.5 billion. That will be 70% of all mobile subscriptions.
A Deloitte study predicts that 5G-enabled businesses and industries will rake in annual revenue to the tune of $565 billion by 2023.
An International Data Corporation (IDC) report mentions that the world market for 5G-based technology is expected to grow to $26 billion. The figure was $4.2 billion in 2019.
Bear in mind that the above figures are projections and estimates from reliable sources. They’ll be subject to such factors as the pace of technological development, government regulations, and economic conditions, among others.
Despite 5G business Internet’s potential, many businesses are skeptical about it, according to Harvard Business Review.
5G Networks vs 4G Networks
What makes 5G networks superior compared to 4G networks?
Well generally, 5G networks have a latency of about 1 millisecond.
4G networks, on the other hand, record a latency of about 50 milliseconds.
Latency is, however, subject to the conditions in which a 5G network operates.
Factors that may affect latency include, network congestion, the distance of the data sent, and even network design.
Practical Uses of 5G Networks
While not all businesses need such a low network latency, 5G networks are useful in the following areas:
- video conferencing,
- drones and robot manipulation (remote control)
- cloud computing
- video streaming
New Technologies Facilitated by 5G
5G also enables new technologies like the Internet of Things (IoT) and Edge Computing.
Examples of Businesses that Have Benefited
Here are some business examples that have benefited from 5G Internet.
5G networks are capable of supporting remote monitoring and telemedicine apps.
It makes it easier for medical personnel to monitor patients’ conditions remotely. Remote consultations are also possible with a 5G network.
It saves time and money for patients and medical professionals.
Thanks to 5G’s reduced latency and faster data transfer is a boon to the manufacturing sector.
5G networks help speed up the use of automation and robotics in manufacturing processes. Real-time monitoring is also facilitated with a faster network speed.
5G benefits the retail sector as well. For one it facilitates the use of augmented reality and virtual reality. Customer experience is enhanced with the potential to increase sales.
Internet of Things (IoT) devices also contribute to business efficiency.
5G in the construction sector will allow the use of robots and drones. This will help improve work efficiency and slash costs.
Again, real-time monitoring will be possible apart from the control of construction machinery.
5G Business Internet Services
Here are among the 5G business Internet services available in the USA.
AT&T’s 5G+ network makes available speeds of up to 2 Gbps in selected cities as part of its 5G Internet services.
T-Mobile and Sprint offer similar 5G speeds.
Verizon’s 5G Ultra Wideband network, on the other hand, offers speeds of up to 4Gbps in selected cities.