New research has revealed that 5G is viewed as an “innovation engine” by executives in key industries.
The report, entitled ‘Opportunities in 5G: The view from eight industries’ and compiled by Ericsson, has revealed the anticipated impact of 5G on specific industries.
It sets out to examine how these industries expect to apply 5G, which specific uses of the new technology are likely to dominate in the different sectors and what business reasons will drive businesses to move to 5G.
Ericsson surveyed more than 650 executives around the world – including information officers, marketing officers, technology officers and other heads of IT Infrastructure – from the eight key industries it considers most likely to be impacted by 5G: automotive, utilities, public safety, high-tech manufacturing, internet/digital natives, healthcare, financial services, and media/gaming.
A total of 94 per cent of those surveyed said they rate next-generation mobile networks as important to the strategic development of their business.
High-tech manufacturing and the media industry reported the highest levels of disruption from emerging technologies and new entrants.
Ericsson said responding to disruption from emerging technologies – such as machine to machine (M2M) communications, broadband connectivity, cloud service and mobile – is a key driving force behind business innovation within the respondents' companies and industries.
The report revealed that a large majority indicated they intend to make significant changes to their businesses in order to take advantage of 5G when it arrives.
Rima Qureshi, Ericsson’s head of region North America and chief strategy officer, said: "5G will accelerate this transformation and create new uses, new revenue streams and new business models for industries and consumers alike.
“With 5G, industries will have connectivity that is customised for their requirements and the agility to move quickly to meet customer needs and be innovative."