The Impact of 5G on Retail, Healthcare, and Manufacturing in 2022

5G on smartphone
photo of Veloxy's CEO Samir Majumdar

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The Impact of 5G on Retail, Healthcare, and Manufacturing in 2022

5G on smartphone

Despite having one hell of a year in 2021, a lot of technologies and processes still continue to roll out and build.

5G in particular is one area that is sure to impact almost every industry out there.

Not only will this technology and its capabilities delight customers, it will also bring in organizations that are prepared for new growth and revenue streams.

Sure enough, the pandemic accelerated the need for improvements in bandwidth, network connectivity and speed which are all major benefits of 5G.

But according to the FCC, almost 20 million Americans still don’t have access to high speed internet

Needless to say, this can spell disaster especially for people working and learning from home. But with 5G, carriers are able to provide cheaper, faster wireless internet to get to more people than ever before.

Let’s see what 5G is poised to do in the healthcare, retail and manufacturing industries.

5G wireless photo

1: Healthcare – Delivery Optimization by 5G

In 2020, there was a whopping 154% increase in telehealth visits as a result of the pandemic.

With faster 5G speeds, telehealth offerings will be improved. The bandwidth will also likely usher in a new era of improved patient monitoring. For example, you’ve got health conditions such as asthma, diabetes, COPD and many more.

Patients who do not live near hospitals will greatly benefit from remote, around the clock ubiquitous monitoring. And with the delivery of COVID-19 vaccines now in motion, business leaders are making plans.

5G now has the potential to expand the capabilities of pharmaceutical internet of things.

Enhanced connectivity of several devices throughout the supply chain means improved product tracking. This will ensure timely delivery of pharmaceuticals with closely monitored environmental controls such as vaccine storage at -100F. These are crucial considerations where time wastage could lead to life and death situations.

2: More Personalized Retail Experience with 5G

We can all agree that shopping looks a whole lot different than it did barely a year ago.

A lot of you probably had to order things online with curbside pickup. But while 5G will improve retail in terms of online shopping, it will also have a dramatic effect on in-person shopping.

That’s because 5G offers faster, real-time tracking of customer shopping habits and product preferences. With this data, retailers can create a more personalized shopping experience via digital signage and loyalty programs.

Similarly, 5G will also usher in a mixed mode shopping experience. For instance, a customer may start their shopping online only to get guided to a physical store where they are directed to the exact aisle.

Virtual and augmented reality are also expected to bridge both offline and online. For instance, one furniture retailer recently updated its augmented reality to allow users to place multiple pieces of furniture in a virtual room before making their purchase. The same app also allows shoppers to simply point their smartphone cameras at furniture and search an entire database for similar products.

3: Manufacturing – Faster, Safer, and more Flexible with 5G

One of the hardest hit industries disrupted by COVID-19 was manufacturing. Reports show that almost 80% of manufacturers expect some sort of financial impact.

Fortunately, 5G will help manufacturers become faster, more connected and malleable. One example is how 5G speeds and bandwidth will allow manufacturers to transmit a whole lot more data almost instantaneously for ops analysis. By monitoring production and performance in real-time manufacturers can determine where to make improvements.

Much like healthcare, an overly efficient supply chain will help manufacturers track supplies and parts. Live monitoring and tracking of equipment will also save resources, reduce waste, and improve uptime.

Thanks to 5G wireless capabilities, factories are able to reduce cabling and improve their agility in configuration.

Similarly, pervasive, always on 5G will limit the need for other Wifi networks. Of course, this will in turn reduce radio frequency interference and improve security. Remote video surveillance can also provide smart hands on the shop floor.

Real-time data transmission and sensors also mean less staff required on the floor thus cutting down production costs. The sensors also implement responsive emergency shut-offs to keep all employees safe.

Conclusion on The Impact of 5G

That wraps up our segment on how 5G will impact manufacture, healthcare and retail industries in 2021. These benefits are by no means exhaustive – they barely scratch the surface of what 5G can achieve. But while much work still lies ahead, COVID-19 has definitely accelerated the race to new tech such as 5G.

What’s more, there’s already plenty of momentum coming through several industries including healthcare, retail and manufacturing. We can all agree that exciting times wait ahead as we continue to move forward and make 5G a reality. Make use of 5G networks with your CRM and Sales assistant tools such as Veloxy for instant data transfer and updates.  

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Samir Majumdar

Samir Majumdar

Samir is the CEO and Co-founder of Veloxy. After spending 20+ years creating corporate systems, boosting revenue, and eliminating inefficiencies, Samir started Veloxy to help sales professionals shorten sales cycles, accelerate pipelines, and close more deals.

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