Implications of 5G for Ecommerce Development Companies
Technology is evolving rapidly today, and numerous innovations pressure businesses to comply. Users are getting ever more demanding and tech-savvy, so it’s not enough to be simply good at what you’re doing. Forward-looking companies need to surpass the competition by delivering cutting-edge solutions. One of such pressing challenges is the introduction of 5G. This high-speed mobile network technology promises to change the digital market, and ecommerce development companies will also be affected. Here is an introduction to 5G and its implications for the ecommerce market from Beluga Lab experts.
What Is 5G?
In a nutshell, 5G is the innovative mobile network technology that will become the world’s fastest network. It will fuel the fourth industrial revolution to change the ways people transact online, access information, and receive digital services.
For many users, 4G already seems fast enough. But just fancy these productivity gains coming with 5G introduction:
- 5G will allow downloads 1,000 times faster than 4G, reaching 10Gbps in speed.
- The projected 5G latency will be one millisecond (4G currently allows around 15-60 milliseconds).
- 5G will make the Internet globally accessible without boundaries, allowing universal coverage for all people.
- VR and AR applications will become more robust with a 5G loading speed.
- AI will become a part of the regular user’s daily life.
What’s in It for Ecommerce Development Companies?
So, what do ecommerce development companies get or lose with the introduction of 5G technology? Overall, the challenge is pressing, as all businesses need to adjust their tech infrastructures and make their resources 5G-compatible. However, the gains of such adoption are also pronounced.
#1 Greater Revenues
The full-scale introduction of 5G in everyday use will increase the number of Internet users worldwide. The global online customer base is expected to exceed 8 billion by 2024, which is a twofold increase compared to 2017 figures. This means a doubling user base and a promising increase in revenues for companies ready to catch up.
#2 New Technological Trends
With the 5G introduction, innovative technology becomes much more accessible as Internet connection speed increases. AR and VR applications, smart wearables, and resource-intensive graphics – everything becomes much more usable and affordable with 5G.
It’s Time to Get Ready Now
As you can see, the future is coming, and its face is 5G. The introduction of this new technology promises better customization, lighting download speed, and broad Web accessibility. You can embrace this trend by preparing early and covering the growing target audience with relevant, convenient ecommerce services.