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The unit price of all these technologies has
        come down over the last decade making
        “things” cheaper and hence more affordable.
        Figure 3 shows significant decline in some
        of the key fundamental technologies such as
        power, various sensor products, and radio
        devices from 2012 through 2020. Sensor
        products, such as microelectromechanical
        systems (MEMS), are key to the success and
        growth of IoT products. Figure 4 shows how
        the average sensor unit cost has declined by
        half from $1.30 in 2004, to $0.60 in 2014
        and estimated to go down to $0.38 in 2020.
        MEMS technology allows us to “digitize”
        our analog world. Figure 5 depicts the unit
        price reduction of MEMS sensors from over
        $3.00 in the early 2000s, to about $0.50
        in 2018. Figure 5 rightfully predicts two
        possible outcomes for MEMS unit prices
        for the first half of this decade. It is likely
        that both will happen depending on MEMS
        integration and application. Unit prices of
        advanced integrated MEMS products will   Figure 3: Unit price for fundamental technology has steadily declined in the last decade [1].
        likely rise because of the complexity of such
        products, while prices for standard MEMS
        products will fall driven by high volume in
        IoT application. However, the average unit
        price of MEMS will continue to decline.
          The most important element for the
        technology convergence (as shown
        in Figure 2) is the development and
        deployment of 5G mmWave technology.
        While there is a lot of buzz going around
        about the potential for deployment of 5G in
        the next two to three years, the real 5G will
        not be widely available until the second half
        of this decade. It is this real 5G that will be
        the very basis for the next generations of
        electronic applications.
          The best way to look at 5G is to put this
        technology deployment into two phases.   Figure 4: Average price for sensor products, key enablers for IoT, have come down significantly. SOURCES:
        Phase 1 is up to the 6GHz frequency   Goldman Sachs and [2]
        range, and Phase 2 is in the >24GHz range   4G, 5G mmWave can have up to a 100X   5G mmWave technology will open new
        as depicted in Figure 6. The current 5G   improvement in data rate, a 10X reduction   frontiers of capability and usher in the
        deployment that is scheduled to start   in latency, and a 100X traffic capacity   introduction and growth of advanced
        by the end of 2020 is Phase 1. In this   allowing a significantly higher number of   technologies. For example, the up to
        phase, most of the 4G infrastructure can   connected devices.         100X transmission speed will allow
        be used with 5G component upgrades   5G mmWave will require brand new   seamless transmission of high-resolution
        while consumers will have to buy new   infrastructures as it works only with “line   8K video enabling people to watch such
        5G handsets. In this <6GHz frequency   of sight” transmission. In other words, the   video on their handsets without any
        range, while transmission will be faster   cell towers will have to be much closer to   interruption. This higher transmission
        than current 4G, it will not have the step   each other. This will take some time to   speed along with the 10X reduction in
        function improvement as the 5G Phase   implement and most likely will not be ready   latency is extremely important in the
        2, which is called 5G mmWave. It is in   in wider areas until 2024, or even later.  proliferation of autonomous vehicles.
        this frequency spectrum where the true   T h e s i g n i f i c a n t p e r f o r m a n c e   Driven by improved safety standards, a
        benefits of 5G lie. As shown in Figure   improvement with the deployment of   higher level of connectivity and improved
        7, when compared to the performance of

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