5G to revolutionize transport, retail
THE latest 5G technologies and services will soon be used in the smart driving, retail, video and photography sectors, industry officials said at CES Asia 2019, the consumer electronics show being held in Shanghai.
“5G will boost the V2X (vehicle to everything) platform and the development of connected vehicles and smart cities,” said Enno Tang, president and CEO of car parts giant Continental China.
The company is displaying its V2X technology and a driverless bus.
Suning Commerce Co said it is working with the Jiangsu branch of China Unicom on how 5G networks will benefit the retail industry.
The two parties will carry out studies on how technology can help optimize retail operations, especially for small and micro businesses, and also build prototypes for smart retail spaces through a joint research lab unveiled yesterday.
Digitalization of brick-and-mortar stores will be the focus of Suning to strengthen its key capability to help retailers drive transformation, said Jing Wei, Suning Technology Group’s vice president.
Shi Weiwei, general manager of the Jiangsu Province branch of China Unicom, added: “Business models, product offerings and shopping scenarios as well as services of the retail industry will undergo radical changes with the deployment of the 5G network.”
It aims to set up a benchmark for the leverage of the 5G network in the retail industry by working more closely with partners.
A number of unmanned grocery stores are already in operation in selected cities thanks to Suning’s technology platform and logistics network.
5G will also boost startups like Guilin Feiyu Technology Incorporated Company, which produces stabilizer gears for smartphones and cameras.
“With the improved speed of 5G, video sharing (to website) will become easier,” said Moses Wu, Feiyu’s senior marketing manager. “It will boost the demand of the whole market (on stabilizer for video shooting).”
Its revenue reached 500 million yuan (US$72.3 million) last year, compared with 20 million yuan in 2014.
The figure will hit 1 billion yuan this year, with booming demand and the development of video blogging and social websites like Tik Tok, Wu added.
5G technology is expected to generate 10.6 trillion yuan of economic output and create more than 3 million jobs between 2020 and 2025, according to the China Academy of Information and Communications Technology.
Startups from South Korea, Switzerland and Norway are also attending CES Asia, which runs until tomorrow.