Market Research on 5G Technology in Transportation Industry

by Global Market Research Analyst

The world around us is changing at a breakneck pace. The transportation and logistics industry are two key segments that have faced a radical change in the past decade. These changes are driven by the need to communicate efficiently between consumers, businesses, vehicles and modes of transportation. They’re also influenced by political forces on different continents, and there’s a blockchain, which necessitates increased connectivity and real-time data exchange between distributed ledgers. The need to communicate more effectively is one of the key factors that boost market growth. Additionally, 5G technology could be the solution that powers the next generation of transportation industry operations.

The transportation industry lags behind other sectors of the economy in terms of technology adoption; many of the systems in use today are based on designs that are 30 years old or older. Industry innovation is driven by compliance, not effectiveness, and the sector still relies on paper-based systems. Inefficient use of the present data is another factor that limits market growth.

Trucks are also transforming into key data platforms. The introduction of real time data and digital techniques into modern day traffic is poised to boost market growth. Data about vehicles and their operators can be collected efficiently on a real time basis. The introduction of 5G technologies will enable real time two communication which will improve transport efficiency. Real-time communication will enable real time decision making via the integration of technologies like artificial intelligence.

5G has the potential to revolutionize air travel by enabling services that reduce passenger delays and streamline operations. Real-time video streaming offered by 5G technology could improve baggage management and surveillance, allowing passengers to keep track of their belongings throughout loading and unloading, as well as during the trip. In addition, real-time equipment monitoring through 5G networks can enable predictive maintenance, and 4K/8K video analytics that can help airlines track aircraft turnaround times.

The transportation industry has entered a phase of fast development, and the rate of change is only expected to increase. 5G technology should underpin all the new developments to support and help evolve the logistics industry of the future. As today’s digital transportation solutions grow and whole new options become possible, the development and distribution of fifth-generation (5G) mobile broadband have the potential to not only enable, but expedite these revolutionary transformations.

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