We’ve been hearing about the benefits of 5G for a long time! The advent of 5G is supposed to have revolutionised the telecommunications industry but have you wondered why you still aren’t able to access it? We’ve had the same question in our minds and during a recent event on Propelling New Growth Opportunities in India 5G conducted by Madras Management Association (MMA), we finally got our answer!
During the event, a conversation between Prof. Bhaskar Ramamurthi (Former Director, IITMadras) and Josh Foulger (Country Head & MD, Bharat FoxconnIndia), moderated by V. Shankar included what 5G will change for us, from an Indian context. We are here to break it down for you and share our insights on the advantages of 5G over 4G and how it can impact brands. But before we get into this, let’s begin with answering the question- what is 5G technology?
5G is the 5th generation of mobile network that is designed to connect all of us together virtually, including machines, objects and devices. One great advantage of 5G over 4G is its speed; while the peak speed of 4G is only 1 Gbps, 5G technology has a peak speed of 20 Gbps- therefore improving the performance of all business applications and digital experiences.
The many benefits of 5G have left us all excited, but we haven’t been able to reap them, even if we are based in a city that is ready for 5G. According to the speakers at the event, this is because of a software update. Most earlier smartphones come with a Standard Configuration that doesn’t support 5G networks, With a software update and Non-Standard Configuration (Jio is a pioneer in India that plans to use this), we all should be able to use 5G soon enough. GlobalData estimates that only 27% of the country’s mobile subscribers (around 329 million) will be using 5G services by 2026.
Starting with the most obvious one, the main benefit of 5G is that it offers greater speed in transmissions, thereby improving efficiency and connecting new industries.
Access to 5G will lead to high reliability and low latency which is helpful for implementation around IOT/Autonomous driving and what Professor Bhaskar called Tactile Internet Remote Operation (TIRO). This could mean, in the future a highly skilled plumber can send a fresher with a device and remotely fix the plumbing issue at your house. This could also mean marketers can create richer digital experiences for their customers.
A great advantage of 5G over 4G is the capability of network slicing where multiple virtual networks are overlaid on top of a shared network domain. Network Slicing was always a reality but will become more affordable with 5g, leading to organisations having their own Private Network or what some countries call Local 5G. In places like airports, ports, stadiums, large enterprises/factories, etc. This could also be beneficial for public services like police, healthcare, etc.
Device to Device interaction will also be a reality with support from the telcos, without the need to go back to the cell tower. This could mean that autonomous cars could interact with each other to know where each car is at any point - to either give warnings or to take other actions. This could also positively impact the IoT ecosystem.
Besides these benefits of 5G, there are several other use cases that businesses can leverage. Location Accuracy is a key ask for many businesses and to be able to bring it down to an accuracy of just 10 cm in an indoor area is something that could become a reality in the near future. The future is indeed exciting!
With the launch of 5G in India, it is predicted that the entire digital landscape will change. When 4G was first introduced, it revolutionised social media and the kind of content brands were able to create. With the advent of 5G, we can expect a complete disruption in the digital landscape. Here are a few ways 5G can impact brands:
A key benefit of 5G is its speed and this could expand the usage of AR and VR content, allowing brands to create more immersive experiences for their core audience.
Explore how to leverage AR for brands on Facebook and Instagram!
With significantly higher speeds and ultra-low latency, brands will rely on high-quality video content to market their product. The world of advertising is also predicted to change significantly as more people will shift away from cable TV towards OTT content when 5G becomes the norm.
The increase in connectivity that 5G promises also means generating significantly more data and insights. This data can also help brands communicate with their audience through hyper-personalised content and creating real-time experiences.
Also Read: What are consumer insights and how can they help in creating a digital strategy for brands?
These are just a few ways 5G can transform the digital landscape and help brands effectively utilise every marketing dollar. The real impact will be seen very soon as 5G is predicted to reach all urban areas of the country by the end of 2023. So, what are your thoughts on how 5G will impact your future?