!DOCTYPE html> The Significance Of 5g In A Digitally Controlled Business Environment

The Significance of 5G in a Digitally Controlled Business Environment

By CIO Applications| Monday, September 28, 2020

The telecom industry has always been one to leverage the latest technology and trends. The telecom revolution has no end as it needs to keep up with the changing times, as the rollout from 1G till 4G, and now 5G.

FREMONT, CA: The COVID-19 pandemic has drastically transformed life all around us, and a as result accelerated the relevance of digital applications and services. Whether from offices or homes or somewhere in between, the increased need for better communication services, tools for remote collaboration, and fast and reliable access to data is a direct result of the pandemic. Augmented reality (AR) and Virtual Reality (VR) are two technologies that provide significant benefits in this new digital era. The technologies have added new dimensions to working in manufacturing, gaming, media, automotive, and healthcare, enabling increased productivity and unique user experiences. Studies have shown that 7 out of ten early adopters of AR and VR technologies will fundamentally change everyday life. The applications of these technologies can also open up new business models and opportunities for service providers. The combination of 5G access networks, edge computing, high-performance distributed 5G core capabilities, and new devices have brought new use cases to life.

The telecom industry has always been one to leverage the latest technology and trends. The telecom revolution has no end as it needs to keep up with the changing times, as the rollout from 1G till 4G, and now 5G. The latest addition, 5G, is set to shatter all existing benchmarks and accelerate technology adoption over the next year. Technologies like virtualization, cloud-native, cloud computing, edge computing, artificial intelligence, machine learning, network slicing, automation, management, and orchestration are critical components in enabling the use cases and business models expected to come with 5G. These technologies will add to the high-performance, high-capacity, high-reliability, and low-latency associated with 5G, all delivered at a low total cost of ownership (TCO). The combination of high performance and low TCO will prove essential in addressing the exponential growth in data traffic and handling the increasing number of IoT devices.

The telecom industry will soon be empowered by 5G to develop business models and use cases, creating additional value to customers and new revenue streams for telecom operators. The technology will also enhance various other services to businesses across multiple industries, along with customer and personal communication services. A recent study identified that the business potential for 5G, especially in the industrial segment, could be around USD 700 billion.