You’ve been hearing the buzz of “Smart Cities” and 5G and probably thinking what does it mean to my company or my family? 5G is the name given to the next generation of mobile data connectivity that comes after 4G. It is anticipated that pilot cities will potentially begin deployment of the technology in the next 2-5 years. After reviewing the info below – I think you will see there are tremendous benefits to adding your voice as the Chamber advocates for Bellevue to be the place of choice for early adoption.
While 5G has unbelievably fast mobile/broadband speeds, its selling point is the reduced latency (lag times) so everything is in real time. Like within 1 millisecond (which is wickedly fast – a thousandth of a second). The aim of 5G is to be software versus hardware focused. The goal is to be invisible similar to electricity. In urban areas, 5G technology will be in the form of small cells that are in traffic lights, lamp posts, rooftops and even inside bricks in new buildings. This allows for key uses to reach their full potential like IoT (Internet of Things) and Augmented, Virtual , and Mixed Reality (AR, VR, MR) and even more importantly driverless vehicles.
Let’s fast forward to 2020. Internet of Things (IoT) devices are expected to number 24 billion, and IoT is predicted to be a $3.2 billion industry cluster. This is where gadgets and objects employ smart, connected features. This can range from existing technology like smartphones, tablets and smart watches, to refrigerators, cars, augmented reality specs and even smart clothes. Analysts are predicting that every person will own and use 27 internet connected devices.
A/R, V/R, and M/R are predicted to be a $150 billion industry cluster in five years, crossing all industries and lead to future prototyping, new features, driving sales, and enhancing retail store experiences. Opportunities are endless in education, healthcare, training, simulation and entertainment.
The connection to smart city infrastructure includes smart roads, smart parking, and driverless vehicles, and smart metering just to name a few. 5G economic impact to Bellevue alone is anticipated to be over $400 million and is expected to create 1,200 new jobs.
The Bellevue Chamber has recently launched the Bellevue/Eastside Chapter of ACESNW (Autonomous, Connected, Electric and Shared) vehicles. In partnership with other key stakeholders, efforts are underway through public and private partnerships to secure ways to increase mobility and connections in lower density areas (where your employees live) and get them faster and more efficiently into the denser infrastructure network. If you are interested in learning send me a note.
5G has benefits to transform the future – let’s seize the opportunity!