Although 5G is one of most important innovations, according to study by PAC, many companies have not developed a strategy for introduction. Astonishingly, only a third of telecommunications providers have developed a strategy for implementing 5G. Therefore, this sector is lagging behind the companies that inevitably depend on the support of telecommunications service providers for the introduction. 5G is on the way to becoming one of the most important and transformative innovations that will shape companies in the future.
The benefits of the technology are obvious, and business cases are being developed in the executive suite for investments based on more responsive, secure, and stable networks. As a result, they also enable new digital capabilities, from a greater density of sensors in the production area to expanding operations beyond conventional boundaries.
5G: Companies Accelerate Adoption
The study, supported by NTT Data, Wind River, Vertica, and Tallit, shows that companies in various industries are increasing the pace with the introduction of 5G. Many are already very far in the implementation of their roadmap. They benefit from detailed strategies that adapt existing operating processes and technologies to the new possibilities that 5G opens up. Many others experiment and research and seek experts and partners to help develop a coherent plan. Still, others remain in a wait-and-see attitude. You are hesitant to invest, or you are unsure of the right course of action.
A Lot Of Work Until The Real Added Value Through 5G
“We are seeing companies start looking seriously at the impact 5G will have on their business. And despite the great optimism, executives slowly realize that there is still a lot of work ahead of them to lay the foundations for real value creation through 5G,”.
“In addition, there is an urgent need to find solutions to a growing number of challenges, from the maturity of the solutions available on the market to robust security and solid data management to ease compliance concerns. The evolving ecosystem of vendors and service providers in this area will play an important role, as companies need more support as their 5G projects progress”.
Growing Differences In The Degree Of Maturity In The Industries
The study reveals significant differences in the individual industries. Some have a head start in strategy development. For example, in the banking and insurance sector, more than half of respondents say they have a clear strategy for 5G, while the percentage for utilities is just 35 percent. Despite their role in developing 5G infrastructure, the telecommunications industry is among the least likely to have a clear strategy: only a third say they have such a strategy for integrating 5G into their business.
5G Enables The Use Of New Technologies
“5G creates new potential in all industries for which more information and computing power at the edge of the network are crucial. These exciting new fields of application, such as augmented reality, telemedicine, or lights-out manufacturing, require low latency and high reliability. Future success depends on how we all together plan and implement infrastructure today. The results of the PAC study underline the importance of well-thought-out and proactive preparation and provide insights into the industry’s status quo. “
“Tallit has been working with PAC for a long time. One of the main aspects of PACs market research is objectivity with a clear perspective, no hype or blackout. This perspective emerges very clearly from the considerations and the conclusion of this whitepaper. This deals with the highly dynamic market for 5G and its areas of application and segments. A fascinating read! “
On The Methodology Of The PAC Study
PAC’s study “Building the business case for 5G” supported the sponsors NTT Data, Wind River and Vertica, and Tallit. More than 200 high-ranking decision-makers who are involved in 5G initiatives in their companies were surveyed. Participants came from the UK, France, Germany, and Italy. Broken down by sector, the sample included more than 80 executives from the telecommunications industry. There were also 120 executives from banking, manufacturing, utilities, healthcare, and transportation.
The technology Group is an independent European market analysis and consulting company for the IT industry. It combines the expertise of the two companies CXP and PAC (Pierre Audio Consultants). The group supports user companies in defining their IT strategy, managing teams and projects, and minimizing risks in technology decisions.