Wireless technology fuels industry growth and innovation

Innovative wireless technology plays a role in the future of connectivity

Wireless technology has rapidly transformed our world. These innovative technological advances are not just impacting telecommunications sector; other industries are leveraging the wireless platform to create efficiencies and the potential for extensive economic development and job growth. Connected devices and 4G wireless technologies provide a glimpse into the impact that 5G, the next generation of wireless connectivity, could have across industry sectors and our economy. The report coauthored by Deloitte and CTIA (a telecom industry association), explores four major industries, highlighting case studies that demonstrate how wireless connectivity has enabled these industries to grow and evolve.

• Energy: Wireless technology is reshaping the energy landscape with greater access to real-time information. Connectivity helps augment the energy industry’s critical role in the economy, electricity utilities in particular, despite ongoing challenges created by aging infrastructure and sheer complexity. The benefits to electric utilities stem from the increased asset efficiency and reduced costs, which directly translate into greater reliability and lower costs for consumers and businesses, and opportunities for investment in new capabilities and technologies, such as renewable energy sources. Moving from a predictive system to a real-time reporting system that leverages wireless solutions enables electric utilities to better balance supply and demand, maintain critical infrastructure, and harness technology to educate and inform consumers.
• Health: Wireless technology enables remote access and telemedicine while providing improved care and health outcomes. This increased access reduces unnecessary costs and ensures that time and distance are not barriers to early interventions and preventative care. Consumers are increasingly attracted to these telehealth and smart monitoring trends, as they empower them to make better choices and access better care. With more reliable and faster real-time access, next-generation wireless connectivity enables innovations in imaging, diagnostics, data analytics, and treatment.
• Public safety: Wireless technology enables public safety personnel and departments to better protect and serve communities. From predictive policing that helps reduce crime to providing real-time alerts giving first responders a more comprehensive understanding of unfolding emergencies, the technological gains of next generation wireless technologies are critical to helping citizens and communities enjoy enhanced public safety. Advancements in wireless connectivity have the potential to demonstrably improve public safety by empowering public safety services—emergency responders, law enforcement, and public health—to carry out their missions more safely and effectively.
• Transportation: Wireless technology improves the speed at which people and goods move along the road safely. An integrated transportation ecosystem is being accelerated by enhanced connectivity, a trend that is expected to continue and will push innovation in the transportation ecosystem. Benefits can be seen across the entire transportation ecosystem and modalities—from public transportation to trucking to individual drivers and riders. Next generation wireless technology is building a platform for widespread adoption of smart roads and infrastructure, while simultaneously recalibrating the transportation value chain, from manufacturers to end users.

To some extent, the current stage of growth is propelled by improvements in efficiency and other rapid gains. Information that was previously difficult or impossible to acquire is now easily accessible, enabling businesses to better analyze the performance of assets, and more quickly identify opportunities to improve operations. A catalyst of this innovation cycle will be the network effects of wireless connectivity brought about primarily by the advancements in wireless technology.

This next stage of growth will be driven by 5G wireless networks. 5G is expected to provide speeds that are 10 times faster than 4G, and with lower latency, which generates significant benefits, particularly in the health industry. 5G will further unlock developments and growth in each of these four industry verticals.

Contacts

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Jack Fritz Senior Manager Deloitte Consulting  LLP +1 312 218 6097