What makes 5G technology so interesting are not necessarily the service improvements it will bring to consumers, although this is important. The biggest benefit comes from the way technology expands the horizons of telecommunications, giving them opportunities in a number of markets hitherto unavailable to them.
In a specialized session at the Congress Total Telecom this year, Kimmo Pentikäinen, vice president of business development at Finnish telecommunications company Elisa, said that despite the many improvements, consumers should be strongly encouraged to switch to 5G.
“In our market, in 4G, you can even reach speeds of 300 mbps, so where will you find that extra value? Why should you upgrade from 4G to 5G? He said, pointing to cloud games and 4K broadcasts as the main factors that could provide this added value. Michel Sabatier, Director of Business Development at West Midlands 5G added that augmented reality at sporting events is still becoming a very dynamic area of interest.
But the main value of this technology is for companies and SMEs.
“It will be possible to compete in new markets that did not exist before 5G,” said Azam Beyk, an OSS pre-sales consultant at Comarch. “For example, mobile operators can compete effectively with fixed operators through fixed wireless access. But most of the 5G monetization will be in the industry and for companies. ”
“I always say that the absolute size of the industry correlates with the absolute impact of 5G on that industry,” he continued. “The biggest effects will be felt by production, retail, healthcare, media and entertainment. It is estimated that the implementation of 5G in these industries will lead to a 5% improvement in global GDP by 2030 – ie $ 1.4 trillion. “
But in order to truly seize the 5G opportunity for Europe and get a share of that $ 1.4 trillion, the continent will have to invest. Lise Fuhr, CEO of ETNO, said Europe’s investment in 5G lags behind other nations, saying the US has achieved almost double the level. However, trends are changing, with COVID-19 creating an environment in which investment in 5G is now critical.
“For many years, Europe has been very tough on competition policy,” Fuhr said. “He was not as focused on the thinking of industrial policy. I see that change is happening right now in Europe with new economic recovery plans. “
Motivated by the enormous potential of industrial applications, 5G clearly has the potential to justify its implementation costs.
“Although there will be some consumer use cases – including cloud gaming and augmented reality – we see most of the opportunity in the industry,” said Angel Dobardziev, IDC’s senior director. “From production, remote controlled equipment, autonomous driving, remote medical care.”