17 Apr The impact of 5G: real time impact and control
5G has been highly anticipated and as it is slowly introduced, many experts are already predicting its impact on the manufacturing industry and business as a whole. Earlier this year, we saw the launch of the first 5G factory promising ‘real-time impact’ and greater control of systems and processes – even in remote environments. So as Britain’s biggest mobile providers including Vodafone and EE get ready to roll out the technology in 2019, we’re examining how 5G will become pivotal in helping manufacturers to increase productivity levels, revenue and accelerate innovation.
Within manufacturing, research shows that many organisations use mobilesignal to power operations in warehouses, manufacturing plants and more. We already know that 5G technology provides the responsiveness and reach to transform current business practices and operations. Therefore, it’s inevitable that as the next generation of mobile technology takes centre stage, it will likely increase manufacturing efficiencies and help to bolster revenue. (According to TechnologyReview, with increased broadband speeds, 5G has the potential to unlock up to $12.3 trillion of revenue across a broad range of industries!) So, if the manufacturing industry can integrate the technology effectively, it has the potential to bolster profitability as the industry continues to evolve, further integrating Industry 4.0 and digital transformation into manufacturing practices and operations.
Inspire industry growth
As well as having an impact on overall revenue figures, 5G will also become pivotal to industry growth, as it has the power to enhance machine to machine communications. MarketWatch reports that with enhanced speeds comes the increased possibility of AR and VR technology entering the market. We are already seeing this trend and potential growth in action. For example, in February 2019, the UK switched on its first ever 5G factory trial with the government-backed Worcestershire Bosch as the test bed for new smart factory technology The first time that 5G has been used in a factory setting in the UK, Forbes believes that this signals the industry is moving closer to Industry 4.0. It is hoped that this approach will improve output and put preventative manufacturing measures in place through IoT sensors and data analytics to prevent failures.
Gather data insights
Ultimately, growth cannot be achieved without insight and a clear strategy. Therefore, data is incredibly important to the overall growth of the manufacturing industry. Research from the Haas School of Business at U.C. Berkeley found that 92% of study respondents believe that 5G’s ability to protect sensitive data is important, a pivotal element for many businesses across the board, especially as the threat to cybersecurity increases globally. However, as data speeds increase, this will also help to make data more accessible, particularly from remote locations. Research shows that 67% of manufacturing executives plan to invest in Big Data analytics, even in the face of pressure to reduce costs. Additionally, according to Manufacturing.net, Big Data analytics can reduce breakdowns by up to 26 per cent and cut unscheduled downtime by nearly a quarter, whilst also allowing manufacturers to schedule predictive maintenance thanks to smart insight.
With new technology comes the possibility of greater innovation and 91% of people believe that 5G will enable new products and services that have not yet been invented, or certainly not implemented. This was due to the fact that they believe 5G will stimulate developments, and the technologies inspired by it will lead to smarter homes, cities and even healthier people. However, nearly 70% of respondents are concerned that without 5G, their country will become less competitive globally, so it’s imperative that as a nation, we get this technology ‘right’ in order to accelerate innovation, particularly in manufacturing practices where competition across the globe will become increasingly fierce.
IoT and Industry 4.0 will be key to enhancing and enabling advances in manufacturing – and research indicates that 5G technology will help these trends evolve further, faster. Not only can it help manufacturers gather smart data insights more quickly to help increase informed decision-making, but it can help to accelerate innovation and therefore boost revenue figures. We have already seen the UK’s first 5G factory launched and as the technology becomes more widely available, we predict that more will be following suit shortly. However, prior to the introduction of 5G in your organisation, there are ways to ensure that your systems are up-to-date and operating effectively and efficiently keeping digital transformation at the forefront, including our CMMS and OEE systems. So, if you’d like to learn more about Idhammar’s products and services, contact us today on 0117 920 9400 or email us at firstname.lastname@example.org