5G for the Networked Society – From Ericsson web site
5G will enable organizations to move into new markets and build new revenue streams with radically new business models and use cases, including Internet of Things (IoT) applications.
5G is the foundation for expanding the potential of the Networked Society. The move to 5G will add a new element: the industrial internet. We’ll see new as-a-service business models based on network slicing. Network slices in the context of 5G will be like virtual networks on-demand. 5G will enable more secure transactions and expand the battery life of IoT devices by 10X. All this will create opportunities for new use cases that we haven’t yet dreamed of.
New report helps operators understand the 5G business potential
Our latest report, The 5G business potential – Industry digitalization and the untapped opportunities for operators, analyzes the 5G business opportunity that comes from industrial digitalization, focusing on eight key global industries, including: manufacturing, public safety, financial services, healthcare, automotive, public transport, media and entertainment and energy and utilities.
We have identified a huge opportunity for telcom operators who address industry digitalization, and foresee a revenue potential of USD 582 billion by 2026. This represents a possibility to add 34 percent growth in revenues. The report shows that manufacturing and energy/utilities sectors represent the biggest opportunity for revenues created or enhanced by 5G. To capture this market potential requires investment in 5G technology, but also business development, go-to-market models and organizational adaptation. To leverage the power of 5G technologies, operators need to rethink their role and what value to deliver, and what business models to use.
This market potential is here now. With IoT and technologies such as GigabitLTE and network slicing enabling new services and revenue streams, the journey to 5G has started. Read the full report to learn more about 5G industry digitalization.