What will 5G affect and play a major role whole economy in the World?

In contrast to previous cellular generations(GSM, UMTS, LTE), one of the major objectives of 5G is to meet projected mobile traffic demand and to holistically address the communications needs of most sectors of the economy, including verticals such as those represented by industries. In some of these economic sectors (such as consumer, finance and media) wireless communication has gradually been making inroads since the onset of the century. The years to follow are expected to push mobility and wireless adoption beyond the tipping point, and 5G will create the conditions where wireless connectivity changes from being an interesting feature to a necessity for a huge number of products in these sectors. The necessity of wireless arises due to the potential for data to build up knowledge, for knowledge to become useful information, and for information to enable higher orders of intelligence in various sectors of the society. At the very least, the data generated from various connected devices will lower the cost of delivering services, and at the very most, it will help accelerate all of humanity to degrees of efficient and productive activity that were impossible during the 255 years since the dawn of the modern Industrial Revolution. Improved wireless broadband connectivity will bring a cascade of secondary benefits to the economy and is capable of improving and bettering the lives of people in untold ways. Some of these economy sectors where wireless communication is expected to play a major role are as follows:

What are the Advantages of 5G Technology?

• Agriculture: Sensors and actuators are becoming more widely used, e.g. in order to measure and communicate soil quality, rainfall, temperature and wind, to monitor how the crops are growing and livestock movements.
• Automobile: Wireless communication is interesting for a multitude of applications associated with intelligent transportation, e.g. to enable greater automation of moving vehicles, to provide Vehicle-to-Vehicle and Vehicle-to-Infrastructure communication for information, sensing and safety to prevent collisions, avoid road traffic congestion etc., as well as commercial applications such as media delivery to the vehicle.
• Construction/Building: Buildings are being constructed with sensors, actuators, integrated antennas and monitoring devices for energy efficiency, security, occupancy monitoring, asset tracking, etc.
• Energy/Utilities: The Smart Grid is affecting all parts of the value chain including exploration, generation and production, trading, monitoring, load control, fault tolerance and consumption of energy. Future systems where consumers also become producers of energy, appliances are connected and perhaps controlled by utilities, and the increase in the numbers of electric cars pose opportunities and challenges for power companies.
• Finance (including banking): Financial activities, such as trading, banking and shopping are performed more and more over wireless links. Consequently, security, fraud detection and analytics are very important components of financial transactions that are improved due to the use of wireless connectivity.
• Health: Wireless communication can be used in a variety of ways ranging from the mundane to the complex; these include exercise monitoring, continuous consumer health sensing, medical alerts and health monitoring by health services, wireless connectivity within hospitals and for remote patient monitoring, remote health service delivery, remote surgery, etc.
• Manufacturing: Various engineering tasks and process control can be made more efficient, reliable and accurate with wireless communications; the use of 5G for ultrareliable operation and extreme requirements on latency is interesting for factory cell automation, while massive machine connectivity will increase in the use of wireless communications in manufacturing for robots, autonomous operation of machines, RFIDs and low-power wireless communications for asset management, etc.
• Media: Video is a key driver of high bandwidth consumption, and it is expected that 5G will allow excellent user experience for viewing 3D and 4K formats on a mass scale. Today, the user experience for enjoying rich content like high-resolution video is limited to fixed networks and short-range wireless, while access to high-quality music is stressed in crowded areas where users might simultaneously consume unique content. New use cases such as Virtual Reality (VR) or Augmented Reality (AR) are also expected to become popular in mobile or nomadic situations.
• Public safety: Police, fire, rescue, ambulance and medical emergency services covered by this category require a high degree of reliability and availability. Just as 4G is being adopted for public safety, 5G radio access will be a very important component of the tools available for security services, law enforcement and emergency personnel to use. The use of SDN and NFV can help the network play a more direct role in public safety functions, such as fighting fires and assisting in earthquake or tsunami disasters, by efficiently managing local service connectivity between responders and from hazards toward the network. The network can also support rescue missions using location services.
• Retail and consumer: Wireless communication will continue to play an important role in areas such as retail, travel and leisure, including hospitality.
• Transport (including logistics): Wireless communication is already playing an important role in this respect. This role will even further increase in the future with the advent of 5G. In fact, 5G will improve the infrastructure and communication functionalities in areas such as railway, public transport and transport of goods by terrestrial or maritime means.
• Additional industries: Aerospace and defense, basic resources, chemicals, industrial goods and support services will employ wireless communications increasingly in the coming years.