Ericsson showcases potential for 5G to fuel digital transformation
Real-time automation and other innovations that rely on 5G could help boost profits
Ericsson has presented an action plan for mobile operators to make the most of 5G technologies, including how to generate revenues from IoT and automation.
The guide to capturing the 5G industry digitalisation business potential claims that those offering 5G technologies will be able to grow revenues by up to 36% ($619 billion for the average network), by ensuring they focus on 10 key sectors when introducing 5G innovations.
Ericsson looked at 400 use cases to compile the report, 200 of which are focused on sectors where 5G is expected to play a "vital" role. It identified that businesses most able to boost their profits with 5G operate in industries covering energy and utilities, manufacturing, public safety, healthcare, public transport, media and entertainment, automotive, financial services and retail and agriculture verticals.
The company also identified nine technology clusters likely to take 90% of the share of success, of which real-time automation has the opportunity to have the biggest impact, potentially generating $101 billion by 2026. Video was also highlighted in the report, responsible for up to $96 billion by 2026.
"Our case studies have shown that operators employ strategic and operational activities to address challenges facing the success of their offerings," Thomas Noren, head of 5G commercialisation at Ericsson, said. "Even though they're not yet 5G offerings, these activities such as go-to-market channels and trial and experimentation will be equally important, if not more, when evolved towards 5G."
Ericsson's report explained that of the total 5G-related revenues, up to 47% can be obtained by networks, taking advantage of the insights the tech firm has released in its report.
The company explained the next few years will be key for businesses to test 5G use cases. The majority of businesses wil trial services this year, with 70% of the use cases active by 2021.
Picture credit: Bigstock
The case for a marketing content hub
Transform your digital marketing to deliver customer expectationsDownload now
Fast, flexible and compliant e-signatures for global businesses
Be at the forefront of digital transformation with electronic signaturesDownload now
Why CEOS should care about the move to SAP S/4HANA
And how they can accelerate business valueDownload now
IT faces new security challenges in the wake of COVID-19
Beat the crisis by learning how to secure your networkDownload now