Have you ever thought about how much electricity affects the world around you? With each passing year it powers and connects more systems, creating all sorts of efficiencies.
From physical spaces, to virtual spaces, electrification is creating new ways to accomplish complex tasks. 5G connections reduce latency by up to 10 times, creating enough support for applications that weren’t possible a few years ago, such as robotic surgeries. Because of stronger connections, many of us have more engaging tools to use when we can’t be together but need to collaborate. In the next 5-6 years, $3.5 trillion is expected to be invested in 5G infrastructure1. The continued expansion of 5G means more of the world will have access to increasingly advanced applications and the cost of using these applications will decrease.
Electrical innovations create efficiencies in other areas too. The way many of us get around is getting smarter. Because of improved electrical signaling, rail transportation is faster and more efficient in many parts of the world. It will become even more popular as time goes on. In fact by 2050, the number of urban kilometers traveled is expected to triple! Electricity powers more of our cars too. By the year 2030, 32 percent of cars sold will have electric engines.
Speaking of cars, industrial automation improves manufacturing capabilities of cars and other goods we need. This process marries physical production with smart technologies and big data, using control systems like computers, robotics and information technologies to manage processes and machinery. All of this adds up to producing what we need more quickly and sometimes at a lower cost. By the year 2027, the global industrial automation market size is projected to reach approximately $330 billion.
Demand for electricity is growing almost twice as fast as total energy demand because of all of these advances. This sudden increase in demand even changes how we store and distribute energy. Improvements in smartgrid allow utilities to store up the right amount of resources and quickly release them as needed to power our world, creating a seamless cycle from storage, to transmission, to end user.
In today’s world, electrical systems can’t fail because failure would disrupt everyday life. This is where we fit in. At nVent, we connect and protect our customers with inventive electrical solutions. You will find our solutions in rail transportation, smart utilities, electrical vehicle charging stations, modular building construction and everywhere in between.
Electrification is changing our world, and the changes will keep coming. While some improvements may seem beyond imagination today, we’re preparing by innovating the solutions to support the electrical applications that will power tomorrow’s advances. While we don’t know precisely what the future holds, we will be part of what’s next.
1. The Economic Impact of Restricting Competition in 5G Network Equipment. Oxford Economics, Nov. 2019.