5G, or the fifth-generation, is a cellular network expected to increase wireless speeds with its vast bandwidth and 10x low latency, helping new technologies with the capabilities required to stream high-quality video for education, healthcare, or publishing media and expand the Internet of Things (IoT) horizon. The transition from 3G to 4G had a significant impact on businesses. Similarly, the introduction of 5G is bound to bring a noticeable transformation in the realm of cellular connectivity.
Let us understand why businesses are fussing over 5G technology and how it will revolutionize the existing companies globally.
How Will Businesses React to 5G?
1. Customers will Prefer Using Mobile Phones: 5G technology will reach the consumers via smart devices, smartphones to be precise. It has already started to take on the existing paradigm as noticeable corporates like Apple and Samsung have already delivered 5G models in the market. With 5G technology on their hands, consumers will explore high-quality videos, graphics, and super-fast cellular connectivity. Therefore, businesses with an interactive mobile user interface, readily accessible by call, text, or other messaging apps, will have the upper hand in the competition.
2. Increased Two-Way Communication Demand: While surfing Netflix, have you ever come across a title suggesting ‘Movies you might like?’ Thanks to 4G technology, we are familiar with personalized results. 5G technology is bound to amplify the customer-oriented experience. According to a report, 93% of customers are likely to make repeat purchases with companies that offer excellent customer service. Rather than following robotic instructions, customers may expect to talk to a person that resolves their complaints with faster connectivity.
3. Constant Connectivity: Again, 5G technology will force companies and businesses to cater to growing customer demands. Resultantly, there will be fierce competition for customer attention. Calling, texting, and reaching out to customers via voice mail is considered outdated and non-effective. According to a Zipwhip study, 96% call respondents termed corporate calls as “disruptive.” So businesses will have to find new and innovative ways to stay in touch with their customers constantly.
4. Increased Demand for Advanced Tech and Features: 5G technology paves the way for advancements in technology and more so on data. Browsing algorithms, personalized results, data encryption, compliance, etc., will upgrade their logic and machinery, enabling users to expect more features from the existing technology. The improved data capacity will also be integral for creating smart cities, upgrading self-drive cars, transforming healthcare and education sectors, and more.