High-speed, high-volume data transfer facilitated by 5G will enhance industrial operations in connected factories. Frost & Sullivan’s recent analysis, Role of 5G Communication Revolutionizing Industrial Internet of Things, finds that the integration of 5G in IIoT systems will accelerate the realization of Industry 4.0 with high-speed, low-latency, and large-volume data transfer. While the application of 5G-enabled IIoT is currently limited to quality inspections, supply chain management, and generic machine control, key system manufacturers are actively exploring other areas in industrial operations where the benefits of 5G connectivity can be leveraged for process optimization and increased automation.
“Incorporating 5G in IIoT devices will enable low latency, increase data throughput, and reduce operation time, thus leading to improved overall process productivity,” said Mogana Tashiani, Frost & Sullivan Technical Insights Research Analyst. “Apart from enhancing the automation of industrial operations and control, 5G-enabled IIoT devices can also minimize the complexity of supply chain networks and warehouse management, helping businesses to efficiently operate in dynamic business environments.”
Tashiani added: “5G will play a key role in ensuring the sustainability of businesses in the wake of the COVID-19 pandemic. The low latency will aid in managing the high traffic to e-commerce by improving network accessibility at a faster pace, accelerating online purchases and order placements. Furthermore, 5G-integrated IIoT devices have the potential to disrupt traditional on-site job functions through remote working and virtual meetings. COVID-19 has led to a massive shift to remote working to maintain business operations on par with on-site job operations.”
IIoT integrated AI analyses real time data and draw insights for the data from various sources related to the operations. The visualised real time data will enable the management to take strategic decision on the critical factors impacting production operations for cost efficient and optimised production throughput including identifying and reducing unnecessary costs through better planning and execution of the operation processes.
Key sectors that can leverage the growth opportunities from 5G-integrated IIoT include:
Oil and Gas: Enables low latency large volume data upload and alterations into the automated production system via cloud platform across plants located at multiple operations. This enables to effectively respond to the changes in the operational input when there is a decision made by the management within a shorter period of time, therefor reducing the idle time of machines and labours at the on-site operations and promoting more centralised system.
Banks, Financial Services, and Insurance: The BFSI sector deals with millions of transactions every day and most of them are mundane and repetitive. 5G-integrated IoT devices and systems allow transactions to be completed and recorded at a faster pace, increasing accuracy by reducing human errors in the process, thus improving the overall productivity of the system.
Agriculture: AI integrated IIoT devices allow low latency communication with on site machines such as autonomous harvester in terms of motion control and transferring captured data, and communicating key decisions through IIoT devices to the machine for task execution without actually being present at the field. Remote control of irrigation systems is also achieved with 5G enabled IIoT devices.
Retail: Businesses in the retail sector can automate in-store transactions with 5G-ready radio-frequency identification (RFID) tags, which can be attached to items or shopping carts to facilitate autonomous check-out in brick-and-mortar stores, leading to unmanned/cashier-less stores.
Automotive: 5G facilitates data transfer among AI algorithms, sensors, and mechanical parts to navigateself-driving or autonomous vehicles. In addition, 5G-enabled vehicles establish a connected system in which real-time data transferring and receiving can be achieved conveniently and effectively. Apart from vehicle-to-vehicle communication, interaction with traffic system is possible with 5G technology, which enables data transmission beforehand to achieve practical navigation for certain road conditions.
Role of 5G Communication Revolutionizing Industrial Internet of Things is part of Frost & Sullivan’s global TechVision Growth Partnership Service program.
For further information on this analysis, please contact Mogana Tashiani, Research Analyst, TechVision at Frost & Sullivan.