Partnerships are the future of 5G, and they will shape the future of the CSP. Success will rely on the systems and infrastructure that enable CSPs to create new and innovative business opportunities, helping build a vast and diverse partner ecosystem. Increasing their 5G revenue will mean that telecom operators will need to look beyond offering network coverage and support more advanced uses and outcomes with the connectivity they provide.
The use of technology is increasing in sectors such as agriculture, logistics, energy, manufacturing, automotive, and transportation, helping drive business decisions, improve processes, optimize resource use, and secure new revenue streams. Many have also begun using RFID tags, sensors, cameras, drones, and other real-time surveillance and data-gathering devices. As more and more industries begin to digitize their businesses and use cloud-based infrastructure, they need robust and reliable network connectivity to ensure they can efficiently monitor and operate their assets, support process automation, and handle large volumes of data unlike ever before. And that’s where 5G comes in.
Through private or enterprise 5G, CSPs can enable businesses to run their own secure and reliable networks. Network slicing also reduces the need for businesses to invest in dedicated infrastructure. CSPs can optimize and monetize their network by dividing it into dedicated “slices” for different enterprise customers, allocating resources depending on the use case.
Top 8 industries that benefit from 5G partnerships
Partnerships provide infinite possibilities for CSPs, though some industries are more likely to be early adopters of the technology. Some of these industries and their use cases include:
5G will revolutionize transport: a recent World Bank report states that 5G holds the potential to accelerate several evolving technologies such as sharing economy and digital platforms, electric and autonomous vehicles, and advanced business models like Mobility as a Service (MaaS). The report also says that mobility-driven demand for connectivity will likely be an important revenue stream for expanded 5G coverage, and the revenue from connected vehicles in major road corridors could potentially yield ROI within just 3-4 years.
Autonomous vehicles will improve road safety and be especially viable on closed campuses in the near future. Smart traffic control with real-time management through connected traffic lights will alleviate traffic congestion. Extending route-mapping technology to transport fleets will improve efficiency and provide real-time updates to commuters on transit times and/or delays. Connecting public places like stadiums with public transport systems will enable them to anticipate higher demand during events.
Energy and utilities
The energy industry currently faces the shift to renewable power, uncertainty over fuel prices, outdated infrastructure, declining revenues, and regulation and policy restrictions. Next-gen technology can help tackle these challenges, helping build a digitalized smart grid using AI, machine learning, and data analytics, and connected with 5G. Intelligence gathered from IoT devices and other technologies gives utility providers more control over distribution, battery energy storage, and renewable energy generation. This enables building smart factories, improved agility, improved CX, lower operating costs, decentralized business models, and high ROI.
Private 5G is set to revolutionize healthcare, helping ensure more efficient patient care, implement monitoring to enable preventative practices, and reduce escalating treatment costs. It will also mean improved healthcare practices, safer storage of patient data, and broadening access even to those in remote or distant areas.
The high speeds, reliable connectivity, low latency, and real-time data streaming that private 5G networks provide enable limitless IoT applications, also known as the Internet of Medical Things (IoMT). Teleconsultation is already being adopted by many hospitals and clinics – a trend escalated by the pandemic to enable patients to access quality medical care from the safety of their homes. As IoT-enabled automation and private 5G networks become more pervasive, healthcare professionals will be able to leverage these technologies to provide e-health applications and personalized treatment options.
Today, the success of financial services such as banks, finance, and insurance (BFSI) companies is hinged, among others, on two important factors: security and customer experience. Private 5G helps fulfill these two requirements by providing ultra-high reliability, higher data capacity, and low latency. The adoption of private 5G and more widespread use of IoT systems and devices will help boost security and CX while driving ROI. It supports disruption from fintech firms, enables a host of advanced mobile transactions, and facilitates service providers to create custom financial solutions to meet an array of business requirements.
Entertainment and media
5G technology will change the face of entertainment and media. According to this report, the global media industry is expected to gain $765bn in cumulative revenues from the new applications and services that 5G enables. Smartphones and consumer devices increasingly support the richer and more advanced audio, video, and multimedia experiences that are facilitated by 5G’s low latency and high bandwidth. The next step is new media experiences for residential and enterprise applications. This will mean collaborative and shared live entertainment, AR/VR, interactive and cloud gaming, immersive events such as sports, personalized content, immersive advertising, and much more.
Manufacturing units that run business-critical activities require infrastructure and applications that demand high reliability, low latency, and uninterrupted connectivity without a wired network. Enterprise or private 5G enables the application of robotics, AI, automation, Industrial IoT, and augmented reality to improve efficiency, lower costs, transform production processes, and facilitate new business models for manufacturing companies. It can help minimize downtime and delays in production, enable streamlined supply chain management, facilitate improved quality checks, boost staff safety, and empower more informed decision-making in real-time using BI analytics.
The pandemic has already accelerated a massive digital revolution in learning, moving teaching to virtual classrooms. And while e-learning is off to a good start, 5G will help bridge the divide caused by the limitations inherent to legacy networks such as lagging speeds and the lack of more immersive experiences. Improved connectivity, ultrafast speeds, and the integration of IoT and robotics will enable educators to create enriched educational experiences that not only match classroom experiences but also surpass them.
5G is expected to revolutionize the agricultural sector, enabling centralized and real-time control over agricultural practices. Many have been turning to newer technologies in recent years to monitor and improve farming practices. Drones, sensors, and cameras are already in use to monitor soil hydration, rainfall, soil nutrients, weeds, temperature, and so on. Connecting these devices to a 5G network and leveraging next-gen features will enable more precision and efficiency in the systems. Smart farming applications enable farmers to segment their fields and treat different sections based on their unique needs using machine-to-machine (M2M) communications and AI. Farmers can use geolocation services to track livestock in real-time, monitor food intake, keep a check on animal health, and more.
How Alepo can help
Cross-industry partnerships will be the most lucrative path to success for 5G service providers, and to attract more partners, they will need to enable innovative 5G use cases. This means providing a robust platform that supports easy onboarding of partners and customers, omnichannel support, and in-built monetization systems. As early movers in enabling 5G, we’ve already begun facilitating operators to stay ahead of the global trend of small and medium businesses turning to operators for their private 5G networks. Our end-to-end solutions enable operators to forge cross-industry partnerships, meet regulatory needs, and develop fail-proof cybersecurity strategies. Learn more about our 5GC solutions.
Director, Product Management
Pankaj Garg is a telecom and FinTech expert with over 15 years of experience in the software industry. Handling digital BSS and 5G offerings is among the many hats he wears at Alepo. Always up to speed with the newest advancements in the products he handles, he takes it slow only when he’s road-tripping across India to discover new places.