One day, the smart city movement may be the most transformative step in urbanization history. Smart cities can save the world as much as $22 trillion by 2050, according to the Global Economy & Climate Commission. With traffic congestion, infrastructure deterioration, crime and other challenges affecting cities around the world, smart city innovations cannot come too fast.
Many think 5G is going to be the key to smart cities. Although most sometimes hyped for its blazingly fast data rates, 5G might provide 100 times higher coverage density than current standards. 5G will deliver the massive improvements required by the smart city ecosystem in speed, performance, device deployment, traffic capacity, latency, and spectrum efficiency. According to the reports published by MIT, it is found that the New York traffic could be reduced by 75 percent via ride sharing. By merging the 5G technology can make a full-fledged autonomous vehicles possibility true. The 5G technology in the smart cities will benefit transportation, healthcare, education, management of buildings, and city management. 5G networks also aid in crime prevention, improve overall school safety, facilitate disaster management, and enhance preventive health care through personal and social lifestyle nudges.
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IoT and 5G connectivity has unlocked for the first truly smart city. The main obstacle to shifting the smart city from the theoretical to the practical was the sheer speed and bandwidth to tolerate and process in real time the amount of data generated by the IoT. The cost savings generated by 5G is going to be a huge boon. According to statistical reports from Accenture, smart city solutions applied to manage vehicle traffic, and electrical grids alone has made $160 billion in benefits and savings through reductions in energy utilizations, traffic congestion, and fuel costs. This means that travel times will be reduced, public safety will be improved, and significant efficiencies in the smart grid will be achieved.
It is easy to deploy technology to protect the environment and promote long-term sustainability with the emerging 5G network and the IoT. These future technology innovations can become an integral part of global efforts to address sustainability challenges and accelerate them. With 5G networks governments, industry, and people will still have the connectivity to meet most of those challenges facing the world to ensure that the planet and its resources are sustainably protected.