5G, the latest iteration of wireless cellular technologies, has started to be rolled out by network operators and industry stakeholders. Previous iterations of technologies (3G and 4G) were developed with a consumer-oriented focus. However, 5G will have further reaching impacts; enabling a large number of use cases in IoT sectors such as healthcare, automotive industries, smart cities and mobile broadband. 5G networks will deliver high bandwidth and low latency that supports services such as UHD (Ultra High Definition) video streaming.
5G will provide the data infrastructure not just for the next generation of mobile communications, but also for serious developments in IoT, including smart cities and AVs (Autonomous Vehicles).
The idea of 5G coverage is not as clearly defined as other wireless technologies, as the network will have changeable characteristics at any given location. Network slicing enables operators to manipulate network features to suit the needs at locations at various times. For example, densely populated areas will be provided with high data rates during peak usage times and ultra-low latency will be introduced to accommodate edge computing use cases.
Enterprises take time to embrace new technologies, but 5G appears to have captured their attention at an early stage. Even though 5G was only introduced to the market for the first time in 2019, 36% of enterprises already believe 5G networks will be transformational.
Though 5G for enterprises is at an early stage, the potential of 5G is substantial. Businesses expect the technology to lead to productivity gains, enable automation, reshape customer experience, and facilitate product enhancements. We believe that, more crucially than all of the above, 5G will be a catalyst for the creation of new commercial and business models. Mobile, platform-based businesses were made possible by 4G; 5G promises to do the same for a broader set of industries.
5G represents a steep change in the kinds of services operators can offer, especially in the enterprise sector, and how they can monetise them. But guaranteeing the quality of these new 5G services requires operators to utilise evolving service assurance capabilities which provide real-time performance monitoring and management insights.
Critical IoT is intended for time-critical communications in both wide- and local-area use cases that require guaranteed data delivery with specified latency targets. Critical IoT will be introduced in 5G networks with the advanced time-critical communication capabilities of 5G NR. It will enable a wide range of time-critical services for consumers, enterprises and public institutions across various sectors.
Operators all over the world are seeking support for their increasingly virtualised environments. They are looking to overcome the limitations of their static and cost-intensive legacy systems and to provide seamless digital experiences with a high QoS (Quality of Service) to mobile customers.
5G operators understand that NFV (Network Function Virtualisation) is the key to addressing these network needs. NFV allows, in its promise to support traffic scalability, dynamic elements management, and virtual operations.
This situation turns NFV to a top priority for operators. It enables the operators to increase efficiency, control and visibility, while gaining unprecedented flexibility and cost reductions in the management of their networks.
Our latest whitepaper, How to Monetise Future 5G Services, analyses the 5G landscape, highlighting potential new trends in this dynamic and fast-paced market.
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Related Research: 5G Monetisation