Internet of Things and 5G- the two modern age technologies have immense capabilities to rejig the workflow of the industries. On one hand, IoT has already found firm grounds in various sectors and is being incorporated into various processes and operations. On the other hand, 5G technology still has to find applications for full-fledged implementation. 5G is promised to have much higher bandwidth than its predecessors, eliminating latency issues and powering performance targets, system capacity, device connectivity, and cost- energy saving. It is the perfect support for IoT to operate with full efficiency and improve operations quality. Better connectivity will result in higher data transmissions for agile workflow.
Logistics industry always strives for real-time tracking of goods; still, it has not been able to achieve 100 percent success in it. IoT devices have been embraced for the same but flaws still exist. Merging IoT with 5G would be of great use as 5G will allow data sharing in real-time because of a better network. Customers to merchants, each entity in the supply chain will have complete access to real-time data enhancing the supply chain efficiency. Also, goods validation will become easier and frauds will reduce to minimal, making the supply chain more transparent and trustable.
Currently, it is hard to predict the exact delivery time of goods, as an outcome the sales get affected. The retail industry is in a quest for a solution to this and IoT combined with 5G seems like an answer to it. Live tracking would enable vendors to predict the exact delivery of their goods allowing them to take up more number of orders than in the past and burgeon their business.
Apart from logistics and retail, both the technologies can be utilized for other sectors. Manufacturing industry can enhance its asset management and tracking. Live video streaming can be made more real-time for better experiences, allowing entertainment and security industries to improve their services and solutions.