Growth of the 5G market is attributed to the proliferation of IoT and connected devices demanding for a more robust, reliable and lower latency communication network. 5G has the potential to address few key challenges of network operators while offering mobile broadband and they are, cost-effective functionality to manage the ever-growing traffic on the network, help to meet expectations of speed and quality over the network, and also monetize customer value in the highly competitive market landscape. Mobile data consumption has witnessed exponential growths in the last few years. On a global level, that data traffic rate has grown at an annual rate of more than 65% over the last five years. Also, between 2018 and 2023, the data traffic is anticipated to grow at a compound annual growth rate of close to 40 percent. This exponential growth in data traffic over the internet is out rightly attributed to the growing penetration of smartphones and other consumer electronic devices that can be connected over the internet with the advent of IoT. The advent of IoT has enabled each device to be connected over the internet and the rising adoptions globally would result in more than billions of devices connected over the internet. These devices are bound to generate huge amounts of data. On top of this growth in mobile broadband data, completely new use cases will also evolve that are Fixed Wireless Access, Massive IoT and Critical IoT. These evolutions will further increase the data traffic.
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Encouraging Government support and investments in developing economies worldwide
As soon as 5G was announced and its potential benefits were showcased at global level, numerous countries have put their hand forward in ensuring a healthy evolution of this technology. A large number of global players have also ventured into developing, research and innovations for the 5G technology globally. Some of the leading vendors, carriers and stakeholders in the 5G technology market include Qualcomm, Samsung Corporation, Ericsson, Nokia Networks, Huawei Telecommunications Inc. and ZTE Corporation who have formed partnerships with various stakeholders across the globe in funding for research & development of the 5G technology. 5G is proven to be a technological evolution that will have the potential to bridge a consumers physical, virtual and social world. The associated transformation into the digital world will bring in business opportunities to a plethora of industry verticals in true sense. Also, at the same time it represents a change in the business models and environments.
The existing network infrastructures of 4G LTE and 3G are incapable of handling such an exponential surge in the data traffic over the internet coupled with rise in the number of devices. The in capabilities of the existing network infrastructures have propelled the telecommunication service providers and carrier operators along with various telecommunication bodies across the globe to develop a standard that would support this splurge of data. As 5G operates over a very high frequency spectrum, it enables connection of large number of devices over the network.
Sensing, these business opportunities, Governments of various developing economies across the globe have realized the potentials of 5G and the impact this technology can have on the GDP of the country. Also, it is anticipated that due to digitalization of businesses, huge jobs would be created that would in turn have a positive impact on the economy of a particular country. TeleBrasil, which is the Brazilian Telecommunications Association has signed an agreement with China, the US, European Union, Japan and South Korea to develop 5G technology in the country. Also, the Brazilian Government has established a partnership with Ericsson for building an innovation center focused on 5G and IoT. The Mexican Government is striving to increase the connectivity coverage across the country with its project named Red Compartida. This project involves building a 5G ready network using the LTE technology for rollout in Mexico. Further, countries like Argentina, Chile, and Columbia have also taken initiatives for investment in the 5G technology through partnerships with giant telecommunication players such as Nokia and Huawei Telecommunications. Moving on to the Middle East and African countries, the Saudi Arabian government is strategically focusing on the development of 5G technology in various countries present in this region. The government has laid enhanced focus on the development of 5G technologies to meet the country’s plan for building a prominent economy as per the VISION 2030. The leading Telecom companies such as Ooredoo (Qatar) and Etisalat Group (UAE) are taking various initiative for the development of 5G technology in countries like UAE and Qatar. Ooredoo partnered with Nokia for the deployment of 5G across the Middle East which will permit industrial networking, virtual reality and ultra-high-definition video, mobility, remote healthcare, and also improve the digital experience of the customer.
Strategic Insights
Players operating in the 5G market are mainly focused on the development of advanced and efficient products.
• In 2018, AT&T Signed an agreement with Crown Castle International Corp. for expanding and simplifying their continuing leasing agreement for wireless network infrastructure. This leasing operations and management are modernized for improving the flexibility and efficiency by deploying new technologies and increase network capacity.
• In 2018, Cisco announced its collaboration with Saudi Telecom Company (STC), for developing 5G communications systems and networks in Saudi Arabia. Under this agreement Cisco will transform the development of the commercial prospective of 5G mobile networks.
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