In order to evolve and succeed in the mobile-centric future, companies will require revolutionary increases in the speed, capacity and connectivity of mobile devices – and they’re looking to 5G networks to provide it.
That is according to a new report from Forbes Insights, in association with Huawei, “The Mobile Industrial Revolution: Anticipating the Impact and Opportunities of 5G Networks on Business”. Global business leaders say that mobile and wireless are critical to the way they do business, but they worry that their needs are outpacing existing access networks.
The introduction of 5G networks in the next five to 10 years is expected to create huge opportunities to build enterprise value in a range of industries, profoundly affecting business operations, profit and loss economics, asset valuations and revenue models.
The global survey of more than 1000 executives found a capability gap:
- more than one-third of all executives say that their current systems already can’t support the evolving needs of their business, including 55% of executives at organisations with revenues more than $10 billion;
- 38% of executives in the Asia/Pacific region agree they’ve outgrown their mobile network; and
- 36% in Europe and 34% in North America see the need for much more capacity.
Bruce Rogers, chief insights officer at Forbes Media said, “Organisations with an eye on the future are already anticipating the impact of 5G technology. They are working on long-term plans to innovate and realise value from this.”
Qiu Heng, president of wireless networkmMarketing operation of Huawei said, 5G will help to realise a completely new world for consumers, for vertical industries, and operators. This will be a fully connected world converging the physical world and the cyberworld, and this world will provide infinite new business opportunities for vertical industries and operators.”
Other key findings include:
- 67% say they need mobile networks that provide ultra-high throughput.
- 64% say they require massive numbers of connections
- 59% require ultra-low latency (59%) – anticipated to be provided by 5G networks.
- Education is key 36% said they know “very little” or “nothing” about the technologies and issues around 5G wireless;
- 38% say they “understand the fundamentals”;
- 27% say they are “very familiar”; and
- Executives based in Europe tend to be far better informed than their colleagues, with only 24% saying they know little or nothing, compared with 42% in Asia/Pacific and 40% in North America. Unsurprisingly, leaders in the technology industry are much better informed than their colleagues in other verticals
- 26% say they are “extensively” exploring or planning how they might use 5G.
- 15% say they are not planning at all. The companies sitting on the sidelines tend to be smaller and earn less revenue: 28% of executives at companies with revenues below $500 million say they aren’t making plans – five times as many as the 3% of executives who aren’t planning for 5G at $10 billion-plus organisations.
- 80% believe that 5G technologies will have positive effects on multiple areas of their business. The areas where they’re most bullish about the benefits of 5G: customer experience, service/ product quality and worker productivity.
There is no doubt that in Australia the pent-up demand for 4G has nearly outstripped the technical capacity to deliver. Things like 4GX, VoLTE, Cat 6 to 11 or band aggregation are just band-aids. The world is going mobile, and Australia is an early adopter.
5G is not just a faster 4G – it is a complete rethink designed to keep up with the explosion of connections. It theoretically can provide stable 10Gbps data rates in perfect conditions or extremely high rates — “tens of megabits per second for tens of thousands of simultaneous users” — no more “Melbourne White Night” or footy data blackouts. It supports beacons, sensors, IoT devices and segregates them (kind of a Quality of Service issue) from voice and data and should achieve less than 1ms latency. It will make it possible to download 4K and VR content – in seconds to minutes, to send large medical files and X-rays, etc. It will be backwards compatible with existing 4G networks.
You can read more (not too technical) about 5G at GSMA Intelligence.
We will begin to see 5G devices and networks in commercial operation by 2020 – perhaps later in Australia. In the interim, the quest for standards goes on, and Huawei is a major player in this area.
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