Telcos would monetize 5G, but how?
Consumers’ demand for being continuously connected and provided with seamless access to data regardless of location makes companies moving forward to create more developed technologies. The 5G network is one of the innovations, which offers reliable connection and unprecedented speed on mobile devices. This technology affects various industri es in ways that transformation will take place extensively.
5G monetization in telecom industry: 5G telecommunication will have a great impact on voice and data services. It allows the kind of simultaneous connectivity that is impossible on 4G. Telecom companies should evolve business model and monetization strategies that have concerns about 5G monetization. Following are some of the ways that help companies for the same:
Paying for infrastructure: When infrastructure goes virtual, even small vendors require connectivity for their enterprises. The “pay as you use infrastructure” model should be used by the companies.
Accessing developer-friendly arrangements: Connectivity providers should offer attractive options for developers seeking access, with usage flexibility and other features. This business model should be used for applications which require a centralized cloud.
Conducting phased trials: Trial roll-outs or phased roll-outs are valuable to service providers. But the mistakes can be expensive and the process has not always been efficient. 5G helps infrastructure vendors to define network slices to roll out services in a phased manner. It helps vendors to follow the reaction of users of the service in an area and how to monetize the service better.
Switching low latency applications to cloud: 5G network aids carriers to monetize by putting computational functionality on ultra-low latency edge networks and switching on the cloud for the computer processing without compromising on latency.