5G technology has been making headlines over the past few years, generating huge buzz in the world of sports, music, and entertainment. In fact, forecasts predict 5G subscriptions to reach 4.4 billion globally by the end of 2027. However, they come at a high cost for communication service providers (CSPs). As the world swiftly moves toward 5G-enabled environments, CSPs are moving away from legacy systems and seeking a more cohesive communication stack that can be fully cloud-native and will improve upon speed and agility as a part of their overall strategy. After investing billions in 5G infrastructure, CSPs need to monetize their investments for ROI. However, to make 5G monetization possible, CSPs require the right tools and strategies.
HCL Technologies is a pioneer in developing 5G frameworks that support CSPs in identifying customer requirements and monetizing the technology to generate higher revenues. As telcos race toward the 5G leading space, benchmarking is essential for service providers to make relevant changes in technical aspects, end-user satisfaction, and experience.
The 4D framework
When it comes to 5G monetization, CSPs need to consider their customers and deliver solutions that are tailored to their specific needs. The 4D framework is created to support the opportunities of I4.0 for various industries. It builds a path that will lead to excellence with a strategy to conquer the market space so that monetizing 5G will be easier, simpler, and error-free.
The 4D framework created by HCL Technologies has different phases, starting from the discovery to the deployment of 5G
Discover: The first phase in 5G monetization is discovery. This phase aims to identify the problem statement and how 5G can play a crucial role in fixing the issue by transforming the customer’s journey. It requires identifying the exact pain point for the customer through a thorough analysis of all the factors that restrict the customer from generating higher revenues.
Design: The second phase in the 5G monetization framework is to design the solution blueprint. With networks evolving, communication companies are bringing in new value to their services. It requires seamless integration of the solution components to consolidate the use cases. A proper and fine-tuned solution design reflects the salient features and indicates the areas improvised when using a 5G-licensed spectrum in place of Wi-Fi. Designing also includes detailed R&D work to frame and implement a solution that best fits a customer’s requirement.
Develop: Once the design is finalized, it is followed by the development phase. Although the architectural design contains several components which need proper testing in HCL Technologies’ 5G lab, the feasibility of any solution is critical before its implementation in a customer’s network. Furthermore, relevant partners with a ready-to-implement solution for consolidated output must be identified. Monitoring is another critical step that needs to be carried out once a solution is ready to be implemented.
Deploy: This is the final phase in the 5G monetization framework. At this stage, the solution is ready to be deployed in the customer’s network. The emergence of new solutions requires countless integration as these new solutions merge with existing ones. In addition, all the solution components may come from different vendors; therefore, technical analysis of how they can be aligned is essential.
With HCL Technologies’ 4D framework, CSPs can now realize their dream of staying competitive while making significant ROIs at the same time. 5G on its own is powerful, but, coupled with next-gen technologies such as IoT, AR, VR, AI, and so on, it opens up the door to a treasure trove of network monetization opportunities. With HCL Technologies’ proven experience, CSPs can leapfrog into 5G with ease, build revenue business models and stay ahead in the race.
Recouping capital investments cannot be achieved through consumer business alone. According to a survey, widespread adoption of 5G is not expected until 2025, and 50% of the revenue will come from business customers such as the healthcare industry, manufacturing, and oil and gas. HCL Technologies is continuously working towards emerging as a market player in delivering industrial scale 5G to its enterprise customers with a cloud stack for building 5G architecture, unlocking the actual value of their network.