With the technological innovations like, chatbots, artificial intelligence, blockchain that promises to create waves in the world of technology, businesses are required alter their business models to adapt to these changes, and this is especially true in case of the real estate industry.
Today the focus of the distinguished technology companies has shifted increasingly on residential and commercial real estate services and properties. The rapid changes in the domain of technology are pushing the traditional real estate companies to revamp their business strategies, develop fresh business models and make way for the digital-first innovations. Now since the real estate industry has come of age and has recorded tremendous potential, the organisations trying to adapt to this changing landscape need to be acquainted with the forces that will be the agents of change..
Insights on 5G Wireless technology: What does it bring on the table?
Even though experts believe that the 5G technology isn’t making an appearance until the year 2020, still in order to keep up with the digital innovations, the organisations are already gearing up for the latest mobile wireless standard. Now let’s dig a little deeper and explore 5G, how it functions and its effectiveness as a next-generation wireless system.
Simply put, 5G is the fifth generation wireless broadband technology andis based on the IEEE 802. 11 ac standard of the broadband system. According to the experts, 5G connections will be focused on system performance, user experience, business models and management & operations.Mentioned below some of the features that the 5G technology will boast of.
- Faster speed: This means a lot less waiting time than what’s offered with 4G and 4G LTE. According to the tech experts, the speed in 5G could go up to 20 Gbps.
- Amazing capacity: 5G will have higher bandwidth to keep up with capacity requirements. This will considerably decrease the strain from the Wi-Fi-enabled devices or gadgets.
- Lower Latency: Latency refers to the time span between making a certain request, and the request being carried out.5G will reportedly bridge the gap between action and response. And if everything goes perfect, the response time could be reduced to 1-millisecond.
- Remarkable user experience: From all the points mentioned above, it can be easily assumed that this technology is going to offer an unforgettable user experience, something no one has come across before.
All in all the technology promises to revolutionize the way people consume technology and make the overall experience a lot smoother.
Integration of 5G Technology within the Real Estate Industry:
The introduction of the 5G technology has created quite a buzz in the spheres of real estate as more and more organizations are looking to implement it within their business plans. As the real estate industry is set to witness a paradigm shift in terms of the convergence of 5G wireless technology, let’s look at some of the innovations that will see the light of day.
Distributed Antenna Systems (DAS) and Small Cell Technology:
Small Cell technology integrationand DAS (Distributed Antenna Systems)is the new dawn of wireless technology, which assures excellent coverage and capacity, and also looks for the suitable platform for the implementation of 5G within the system.
Now the Real Estate industry has a significant role in the launch of Small Cell and DAS, offering physical space to establish the present and future generations of devices. This space can be anywhere, be it in the densely populated urban regions offering wireless connectivity in buildings and offices, or large commercial spaces like airports and stadiums. In any case, covering a space or area is vital for realistic integration of the DAS or small cell technology, and that space must be utilized in such a way that keeps the integration process going, over the span of a decade in future.
The inclusion of 5G technology to pave the way for smart cities:
Standing in 2018, the cities have to deal with quite a few concerns, which include promoting energy efficiency, increasing safety, purifying the air quality, presenting a better transportation facility and enhancing the quality of life for both the visitors and residents alike.
In order to integrate smarter infrastructure in the cities, it’s necessary that these concerns are addressed, and this is why communication networks are said to be the medium, which if successfully integrated can be the answer to these pressing issues. In this case, the development of these cities will rely on ubiquitous broadband connectivity to provide assistance on an array of crucial services.
To live up to the promise, the 5G technology has to use higher radio frequencies to its advantage, which generally encompass a rather small geographical territory owing to the restricted reach of the radio signals, yet is compatible with much higher data rates. So 5G connectivity will depend on dense networks of antennas, in the form of small cells,closely packed together unlike the macro networks that are used today.
Another extremely significant approach, which is presently being evaluated is the installation of 5G antennas into different areas of the cityscape. With this approach, 5G can be integrated into street side furniture (like bus stop shelters) and in vastly disseminated infrastructure like light poles, which are widespread within any urban setup.
For the implementation of 5G technology, many cities and the commercial hubs within them have started several trial programs to gain an understanding on the possible challenges they will face once the deployment of 5G begins in the commercial spaces.
Aside from these logistical concerns, what also needs to be understood is that the systems need to be attractive as well to gain wider acceptance from the masses. They also have to maintain longevity, so that it functions properly for a prolonged period in diverse weather conditions. Finally, they need to be secure from theft, tampering, or vandalism, which are quite prevalent issues in many urban areas. These questions will become even more pertinent when these devices are introduced.
So all things considered, the implementation of 5G does hold a lot of promise for the future for the real estate businesses, as it seeks to employ a path-breaking approach in urban planning and development.
Author Bio: Ava Lee serves as a business manager in a multinational organization Top Homework Helper, who has a great deal of knowledge in real estate sector. She acquired his MBA from the University of Melbourne. She has also been working as an academic expert for All Essay Writer for a year now.