Why 5G Innovation for industries is defining a new era of economic impact

Published: 9 October 2019 - 12:30 a.m.

Since the dawn of time, technology has been implemented to bring real-world impact for people, societies and businesses. In the case of industries in specific, technological innovation is key for enabling industries to drive wide-scale economic impact.

Throughout every industrial revolution, new innovations have helped businesses achieve more by doing less. From the creation of the steam engine to the evolution of the telegraph and subsequent communications breakthroughs, innovation has been a catalyst for social and economic cohesion as well as business transformation.

Like the steam engine, 5G is also steaming ahead as a technology that will define a new era and will drive real change in the fourth industrial revolution. The imminent impact of 5G on the enterprise sector is enabling businesses to develop new products and value propositions that will empower knowledge-based economies. By powering the future of industries, 5G will influence progress in all sectors as it redefines technology’s ability to create greater efficiencies across the board and will present new value creation drivers for new levels of economic output.

At the heart of this technology evolution, 5G mobile connectivity and modern IoT ecosystem innovation is the front runner for enabling digital transformation. While physical connectivity infrastructure has been the conventional basis for long-range and high bandwidth communications, the new era of 5G-enabled cellular connectivity is providing enriched benefits that surpass those supplied by physical infrastructure.

This digital transformation is coming to life through Ericsson’s devotion to delivering 5G networks. With Broadband IoT, Critical IoT, and Industrial automation IoT in the delivery pipeline, the systemic rollout of 5G networks by operators is setting up nations to be global driving forces in the digital age thanks to an empowered array of enterprise capabilities.

With Broadband IoT, high throughput and low latency are fueling industrial applications for use cases like drones and virtual and augmented reality. With Critical IoT, the business impact is being derived from enterprise applications that require ultra-reliable, low latency, and truly uninterrupted connectivity. This is driving the likes of autonomous vehicles and smart traffic infrastructure in the digital age. Lastly, with Industrial automation IoT, advanced automation and precise indoor positioning of robotics is coming to the fore, fueled by extremely high throughput and low latency. These transformations are creating distinct operating advantages that are in turn driving economic impact via real time connectivity and unprecedented efficiency.

Industrial productivity is being enhanced by 5G as a significant enabler for Industry 4.0. New business models and revenue streams are being created as a result of putting new technologies to use in intelligent and meaningful ways. As these trends evolve even further, finding the perfect combination of new technologies, connectivity, and platforms will offer unparalleled opportunities to democratize and harness innovation to fuel economies. With 5G, achieving more by doing less is a redefined reality – and Ericsson is proud to be driving this change at the forefront of innovation discovery to turn this enticing vision to a solidified future.

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