Acccording to Qualcomm by 2035, 5G will have created 22 million new jobs and contributed $13.2 trillion to global economy. The breakout of this new technology is set to power digital technology applications with higher network speeds and lower latency, creating a major impact on numerous industries. For example:

Healthcare

5G will help healthcare organizations quickly and reliably transport vast amounts of medical records and imagery, improving access to quality care. For organizations that are building telemedicine programs, 5G will be extremely important – as telemedicine requires real-time high quality video support. On the A.I. front, the large amount of active data processing required for machine learning needs a high-bandwidth and low latency network – which is exactly what 5G promises to provide.

Energy

5G mobile networks will help integrate previously unconnected devices to smart power grids for accurate monitoring and the precise forecasting of energy requirements. Smart grids, in turn, will help manage energy demands and cut down on energy costs.

Retail

With the successful rollout of 5G, retailers will be able to deploy multiple sensors to provide real-time inventory visibility. Smart shelves will help them update pricing according to the requisite demand. On the AR/VR front, the increased capacity of 5G networks will allow retailers to create richer and more detailed experiences while integrating their physical and digital worlds. Retail companies may also be able to achieve a 90% reduction in power consumption, making it possible to guarantee up to 10 years of battery life for low power IoT devices for 5G.

Media & Entertainment

Faster speeds, more reliable connections, and lower latencies of 5G networks will result in better video quality on mobiles and far more immersive experiences for VR and AR. The OTT business will see a renewed thrust once 5G takes over. This 5G rollout will also result in the rise of a sports technology ecosystem, in which E-sports may give traditional sporting events a good run for their money.