How do you monetize 5G?
Per a forecast by ABI research, worldwide revenue from 5G services are expected to be around $250 billion annually and a major pie of this revenue will be cornered by communication service providers (CSPs). With an ever-changing technology ecosystem, predicting all possible 5G monetization use cases is a continuous job, but at HCLTech, we have identified some immediate benefits that CSPs will receive from 5G implementation.
- Higher recurring revenues: With 100x speed and 10x lower latency, data consumption patterns of users will change dramatically. This will lead to a significant increase in a mix of subscription- and usage-based fees tied to incredibly fast data speeds and massive data volumes.
- IoT connectivity- The value of 5G in IoT applications will not be associated with improved speeds but its capability in supporting billions of connected things simultaneously with extremely low latency. This feature will improve adoption of IoT devices like sensors and beacons, among others, and will eventually lead to massive opportunities in the fields of Smart cities, connected factories, and connected transport among others.
- AR/VR- The two major benefits of 5G (higher speed and lower latency) will help in large-scale adoption of AR/VR systems in areas like gaming, education, and field service management,among others. This new trend will bring in opportunities to diversify business in multiple other domains like media, education, and entertainment, to name a few.