Earlier this year, we shared our perspective on the future of 5G at Mobile World Congress (MWC) in Barcelona. We believe that in the next five years, 5G-enabled IoT, edge computing and advanced networking capabilities will transform entire markets. Our enthusiasm is clearly shared: Capital expenditures on 5G infrastructure is strong and “co-opetition” among hyperscalers, service providers and the entry of nontraditional players into 5G and edge computing suggests that the fifth-generation mobile network technology is approaching a major inflection point. Some notable indicators:
5G and next-gen technologies
Rapid tech innovation has conditioned many of us to greet this week's Next Big Thing with a yawn. So what makes 5G so special? How can it possibly live up to its hype?
Well, for starters, 5G is powerful—supporting ultra-fast speeds, increased data volume, more connect devices, real-time response and precise location sensing. So far, so impressive. But the game-changer is 5G’s ability to power virtualisation, AI, analytics, automation and other next-gen technologies with the capability to transform businesses and industries. In short, connecting everything—instantly and constantly.
Contribution of 5G to the global economy
Let’s look a bit closer at the economic effects of 5G. While it will affect all industries and regions around the world, IT and telecom, energy, utilities and manufacturing stand to benefit the most.
4Deloitte analysis based on multiple reports available on the public domain including Grand View Research, 5G Services Market Size, Share & Trends Analysis Report, Feb. 2022.
Seemingly endless 5G applications
Within these key industries, 5G's low latency, high bandwidth and high connection density can support a nearly infinite number of use cases. The unifying thread: deeper connectivity between the digital and physical realms. Just a sampling of high-potential use cases by sector:
Exploring 5G in your organisation
Given the overwhelming number of potential use cases, if your executive team hasn't identified multiple opportunities to transform connectivity in the organisation, you're behind the curve. To catch up, start by considering how you might use 5G-enabled solutions to: