As per the study, the global market of 5G technology is growing year by year. The real growth is seen to be between 2020 to 2025 in which 5G technology market will be developing more than at a CAGR of 70.83%. In fact, by the end of the year 2025, the market can achieve a valuation of $700 billion and is expected to generate $10 trillion by 2035.
Due to technology’s proliferation, including wearable devices, smart TVs, connected cars and household appliances, beacons, and other technologies, the future consumer journey will look complicated. Consumers can start and end their shopping experiences on a mobile platform, in-store, or online. It is a fluid movement that will be even harder for retailers to keep up with or predict because it will include a growing number of devices and touch-points.
Increased connectivity and technology usage in Consumer Electronics through IoT, AI, robotics, AR/VR, and others will transform the industry, and 5G network roll-out will be at the heart of it. Devices will provide essential data from sensors give new insights faster, boost efficiency, and allow companies to make more informed decisions.
Real-time applications, such as voice, video, and Ecommerce connectivity, have always been sensitive to disruptions. An unstable connection can result in jitter, latency, and packet loss that translate into obvious performance issues such as delays, echoes, slow checkouts, and lost sales. 5G will prevent these disruptions by enabling users to stay on the same cellular network throughout the journey.
The impact of 5G on current and future applications will drive increased demand for electronic components. With less than a millisecond latency and a peak data rate of 20 GB per second, 5G will enable and speed up the development of self-driving cars, the Internet of Things (IoT), augmented reality, and smart cities. A key module that allows devices to connect with the mobile network is radio frequency front-end (RFFE). With 5G, RFFE module requirements will be more complicated and dynamic.
The 5G will bring about a novel technological change for the corporate world. Companies would have a multitude of opportunities to take advantage of if they have access to fast data anywhere.If you let your mind run for some time, then you might start running away with ideas about all the crazy things that 5G could enable.
The 5G can also completely meet the requirements of equipment interconnection and remote interactive applications in the industrial world. Intelligent manufacturing areas such as the Internet of Things (IoT), Industrial Automation Control, Cloud Robot, and so on, would open up a new era of widespread interconnection and deep human-computer interaction with the help of 5G technology.
The future 5G technology will become the key to foster the transformation of smart manufacturing.In multiple scenarios, it can not only connect widely dispersed and scattered individuals, machines and equipment, and build a centralised Internet, but also support the entire mobile Internet application with real-time and reliability.
Electronic sector skills council of India enrolls more and more people, being amongst the largest employers in India to provide jobs to youth. But this time, while there are plenty of new jobs coming in this sector, the biggest challenge exists in getting the skilled manpower specifically in revolutionary technology like 5G. There is a need of creating a demand of talent pool transformation and make them ready for this future generation technology.To cope with the rapid transformation in the industry, youth have to learn about new technologies that have become an important skill these days.
The writer is Varun Bhatia, General Manager-Standards, ESSCI