5G and IoT are promising technologies that will provide multiple benefits, including a new generation of smart and connected products.
Telcos are taking steps forward by pumping billions of dollars in the development of the 5G infrastructure. The essential highlight of this investment towards the betterment of 5G technology is the efficiency achieved in the business model.
The amalgamation of IoT and 5G technologies have just started to change the world and has powered billions of additional devices to connect to the web. These technologies are taking over all industry verticals like education, healthcare, automobile, smart cities, BFSI, etc. From manufacturing, agribusiness, retail, citizen services, and more, IoT will leave no industry immaculate. Enterprise connectivity in the form of the Internet of Things (IoT) as a technology has evolved well beyond the industry hype-cycle and is leading towards maturity.
IoT promises significant value propositions for the government, businesses, and citizens, alike. Embracing the IoT movement and presenting multi-billion-dollar business opportunities is no longer an option for progressive organizations that are facing unprecedented business challenges. With COVID 19 pandemic, the technology adoption has accelerated, especially the IoT based solutions enabling remote asset monitoring and control across industries.
With 5G, the world will see a further surge in connected devices, generating 100x higher mobile data volumes, coupled with 5x lower latency than now and newer applications, especially in connected healthcare and remote management solutions with batteries lasting up to 10 years for low-power devices! IoT and 5G applications are being used in everything from sensors to artificial intelligence to big-data analysis, which makes everything not just connected but also smart.
While all industrial sectors like manufacturing, automobiles, utilities, smart cities, BFSI, and even agriculture are adopting advanced technologies; in the Indian context, IoT and 5G together, have a critical role to play in the field of Healthcare. The technologies help in increased use of telemedicine and mobile Health transcending the geographical boundaries and making them redundant. Setting up telecom infrastructure in rural areas to increase the reach of Registered Medical Professionals is easier than making specialists available physically.
With 1 billion plus mobile phone connections, m-Banking, m-Entertainment, m-Commerce, and m-Governance are becoming a reality. This indicates a great potential of telemedicine in the healthcare sector with the emergence of 5G, IoT services, and its applications in making the healthcare industry more connected and accessible. In the current times, virtual visits and consultations enabled through telemedicine are a game-changer in the light of the fact that physical consultations and OPDs are cancelled due to the COVID scare.
In most of the hospitals, tele calling, video consultations, and doctor on-demand services are now readily available. It can be anticipated that online pharmacy, medicine technology, medical devices, and healthcare data & analytics can flourish even if this virus subdues. A study from Report linker predicts that investments for the implementation of IoT solutions in the healthcare sector will drive a 19.9 percent annual market growth between now and 2025, eventually reaching an estimated $534.3 billion.
Another sector destined to achieve enormous operational efficiencies with IoT & 5G is the manufacturing and supply chain. For business, smart mobility means connected supply chain and connected fleets, which can be tracked and monitored anytime and from anywhere in real-time. As supply chains get disrupted, and demand patterns change amidst the Covid19 lockdown, real-time supply chain visibility is proving to be extremely important. Thus, technologies enabling remote asset access, digital twins, live tracking & tracing tools, workforce collaboration platforms, and smart cities data platforms are now mission-critical.
Aeris recently launched the Smart Fleet Platform, which is the industry’s first end-to-end connected platform and telematics solution for the fleet owners. It offers a single platform and comes with unique features to help maximize fleet efficiency and operational excellence. The unique value proposition of this innovative platform lies in its ability to address three of the biggest challenges that fleet owners face – reducing accidents, instances of theft, and improving efficiency.
Enterprise-wide high-speed connectivity is no longer an option for organizations competing on the grounds of innovation and talent. Connected everything from IoT, and high-speed data transfers from 5G technology together can enable enterprises to manage everything from marketing intelligence to improved operations, enhanced customer experience, and business excellence. The industry can expect exceptional speed, connectivity, low latency, ubiquitous coverage, and some other notable benefits which would make IoT far more superior and effective than it is now. How each sector and enterprise leverage the competitive advantage brought by IoT and 5G is limited only by their imagination.
The future of enterprise technologies centres around people, processes, and data. Connecting physical objects, machines, humans, and the wider corporate network allows organizations to maximize resource utilization and workforce potential as part of the connected enterprise movement. Enterprise connectivity is no longer an option for organizations competing on grounds of innovation and talent instead of capital investments and existing brand reputation.
Sameer Mahapatra, vice president and country sales head – India & SAARC at Aeris Communications