In today's era of rapid development, hyper-connection and technical support, we have witnessed the invention and subversion of a number of new technologies, and the entire technology-supported ecosystem has brought about changes in the entire field. As early as 2009, when 4G technology emerged, it brought a new wave of Internet experience to the public, driven by high speed and powerful connectivity.
Now, with the launch of 5G or 5th generation wireless communications launched in 2020, the industry will definitely wait for more. In many other areas of technology, the Internet of Things (IoT) will undergo some dramatic transformations, primarily in the form of increased efficiency of all communications between sensors/devices and enterprise applications.
The Internet of Things is just a growing network of physical devices that can be easily connected to the Internet or connected to each other, with the ability to collect and share large amounts of information/data. These devices are next-generation smart devices that require the support of an efficient network to reach their full potential. Interestingly, according to Bain, by 2020, the B2B IoT market will exceed $300 billion.
The arrival of 5G technology will bring exceptionally fast speed, maximum connectivity, ultra-low latency (target is less than 1 millisecond), ubiquitous coverage, and other significant benefits that will make IoT even more Superior and effective. just now. By integrating with this intelligent next-generation network, IoT devices can now increase efficiency and deliver a superior experience. Device-to-device communication will be a steady reality, and computing power may be integrated with local communications. Existing applications, products, and features will be enriched and enhanced, and people can see the origins of various new IoT use cases that 4G cannot achieve.
Another breakthrough advantage of using 5G is the speed of data transfer. Today's large enterprises rely on large amounts of data that need to be quickly shared or transmitted for efficient operation. At present, Internet of Things applications mostly rely on 4G networks to transmit data. Due to the relatively slow speed and long processing time. However, with the increase in the amount of data per day, companies have begun to demand better connectivity, which is promised by 5G.
By transmitting data ten times faster than existing 4G networks, it will enable businesses to make decisions faster and more efficiently. In addition, due to the high speed of data transfer, existing latency issues will be resolved and enterprises are expected to begin deploying more of these connected devices. This means we will see a surge in the number of devices used. Interestingly, by 2020, the number of connected devices is expected to exceed 30 billion, and BI Intelligence expects to install 22.5 billion IoT devices worldwide by 2021.
In-depth study of the impact of this revolutionary network on the Internet of Things, all devices built with sensors are able to communicate and respond faster. For example, driverless cars have built-in cameras and sensors needed to communicate with GPS and other sources, and therefore rely on a large amount of real-time data. In this case, the implementation of 5G technology may be a boon. The telecommunications industry will also gain huge gains as 5G networks will support the massive growth of wireless communications enabled by the Internet of Things.
The mobile phone as a platform will be further strengthened, and the flexibility and scalability of the existing mobile network will be greatly improved. According to Machina Research, the Internet of Things will account for a quarter of the world's 41 million 5G connections in 2024. However, for these next-generation 5G networks, making greater changes to the business community and the entire ecosystem requires a strong strategy to take advantage of the next wave of disruptions. People can think of this as an investment that can lead to greater breakthroughs and more efficient results over time.