With LTE-M (not sure if it's considered 5G, but it's a new LTE standard being rolled out at the same time anyway) or NB-IoT you can have devices using way less power to stay connected to the internet, and the range can be very impressive too. Of course, the bandwidth is also very low. But that's OK for things like tracking devices (they're making reindeer trackers in Finland) and basic smart watches.
With eSIM or iSIM you can also make the device smaller
> is using 2G cellular modems
I think carriers really want to discontinue 2G eventually. It's really inefficient. They've already dropped support for 3G around here.
I'm guessing it's also way more power hungry than LTE-M/NB-IoT
Can you make something like this with 2G? https://www.kickstarter.com/projects/airbolt/the-airbolt-gps
I don't think so...
[edit - noticed sibling post... “smart toasters” etc total BS nonsense, but IoT for business will be transformative]
We all know that the manufacturer will stop updating the firmware after a few months, leaving botnets to pick them up.
Most of the times, when people discuss how 5G will serve "massive machine type communications" they refer to LTE-M / NB-IoT.