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Growing Significance of 5G IoT Devices in Smart City Projects to Offer Significant Growth Opportunities for Players in the 5G IoT Market

   January 5, 2023

Smart cities utilize emerging technologies, such as 5G and IoT, to create and deliver connected solutions. While the innovation of 5G technology will not facilitate the advancement of smart cities, the new 5G infrastructure vastly expands the opportunity for cities to utilize smart devices, sensors, and data to improve operations and functions. 5G and IoT technologies are the key components for developing smart city infrastructure to accelerate digital transformation for improving operations and functions. The 5G IoT devices bring a lot of features for enhancing the development of smart cities, including intelligent transportation, smart energy management system, security systems, smart healthcare systems, and public utilities, among others.

Along with 5G technology, the Internet of Things (IoT) is key to enabling a true, fully functioning smart city. In simple terms, IoT is a network of connected devices that communicate and exchange data – this can be anything from connected cars to street light sensors. IoT technology allows businesses, cities, and individuals to monitor, manage, and control these connected devices while gathering real-time data, analytics, and insights. Smart buildings can leverage wireless technology, IoT devices, building automation, and data analytics to evaluate and monitor processes while operating more cost-effectively and efficiently.

Smart cities use 5G IoT technologies to collect real-time data to process, communicate, and share data at a higher speed with low latency. The 5G networks provide flexible, higher speed, low latency, and high-reliability results. In addition, IoT devices communicate and exchange real-time data for monitoring, managing, and controlling devices for implementing the technologies to advance smart city projects. 5G and IoT are key components for transforming how cities connect and operate. With IoT’s unlimited potential and 5G’s incredibly fast speeds and low latency, these technologies unleash critical infrastructure for the future of connected communities.

Several companies and government bodies are focusing on advanced technologies, including 5G, AI, and IoT technology in smart cities, to implement intelligent infrastructure automation, smart grids, and control systems. For instance, in 2021, Siemens (Germany) acquired Wattsense (France) to expand Siemens’ building automation offering using IoT systems for small and mid-size buildings. Also, in 2019, in Canada, the government announced a federal program called the “Smart Cities Challenge” for smart cities that focuses on integrating advanced technology, including 5G and IoT, in smart cities. Such developments, the increasing need for efficient management and utilization of resources, rapid urbanization, and increasing investments in smart city projects are contributing to market growth.

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