5G Brings Demand for Electronic Components in the Healthcare Industry

5G Brings Demand for Electronic Components in the Healthcare Industry

Throughout recent years, there has been endless talk and speculation regarding the emergence of 5G technology and how the use of this new network will impact the world we live in today. Both hospital and patient-based applications paired with 5G can deliver many healthcare opportunities to consumers and healthcare physicians, bringing technological advancements into the health industry.

In 2019, the journey to a 5G-integrated world is expected to start with the highly anticipated release of new 5G-enabled smartphones. 5G’s large bandwidth and low latency features are expected to provide phones with drastically fast download speeds and enhanced connectivity. Utilizing 5G-enabled devices, doctors will have the opportunity to offer patients virtual appointments, allowing for doctors to visit more patients per day, resulting with decreased patient wait times.

To allow for these healthcare developments to take full effect, the appropriate 5G foundation of electronic components must already properly be in place. The structure of 5G is known to consist of a multitude of modems, antennas, base stations, fiber-optic cables as well as numerous sensors to enable full functionality. As mentioned in Advanced MP Technology’s previous blog, 5 Predictions for 5G in the Electronics Industry, the infrastructure spending on 5G over the next 6 years is estimated to exceed US $326 billion by 2025, with the majority of first 5G-enabled smartphones released to consumers expected to be powered by Qualcomm’s Snapdragon line of chips.

For the foreseeable future, the demand of 5G components is expected to rise. According to industry experts, the 5G chipset market size is forecast to expand to US $9.22 billion by 2023, growing at a CAGR of 41.2%. The demand will be due to the anticipated increase in available connected devices and machine connectivity, with healthcare contributing as one of the main industry influencers. Some key manufacturers in the 5G electronic component market primarily consist of both Qualcomm and Intel with their 5G processors.

With the use of these manufacturers 5G components, some 5G service providers are already beginning to implement new 5G ideas into healthcare centers. Recently, AT&T revealed at CES 2019 its innovative project with Chicago’s Rush University Medical Center and Rush System for Health to bridge the gap between 5G technology and hospitals. With this project, AT&T aims to provide a 5G-enhanced environment allowing for improved hospital operations with the highest-quality of patient and staff experience.

Advanced MP Technology, a full-service supply chain solutions provider, has proved to stay up-to-date on all market trends within the electronics industry for over 40 years through significant research. Our well-informed staff is able to keep customers updated on excellent market knowledge while providing them with aid to source the right electronic components to fit their needs.