The promise of 5G is enticing. Faster connectivity, great reliability and security, lower latency and network slicing – 5G is attracting significant interest in the industrial world.
According to the Capgemini Research Institute report Making the great leap forward in 5G industrial operations, two-thirds of companies want to implement 5G for industrial operations within two years of the network’s availability, but telco players may need up to three years to roll-out all 5G features. Patience will be needed before all of these next-generation options are available.
While manufacturing and asset-intensive companies are eagerly awaiting the launch of 5G, they also need to decide if they want to apply for a private license. Some companies are considering investments in private networks as an alternative. This may bring more autonomy and security but regulations and long-term management and operation need to be considered.
Companies are eagerly anticipating all 5G can bring to their business. Telcos need to collaborate closely with this sector to identify the areas where 5G can add value both in the immediate future and long-term, and design the right implementation roadmap for success.
From the shop floor to supply chain to product and service management, 5G has incredible potential for manufacturing and asset-intensive companies. It will allow reliable, secure, real-time, high-speed transmission of data and transform multiple applications.
Companies are ready to make capital expenditures and pay a premium for 5G. The ability to connect faster is a powerful motivator and telcos need to be a collaborator in the process. By working more closely than before, the two sides can deliver the full potential of this transformative technology.