5G is transformational. Faster connectivity, great reliability and security, lower latency and network slicing – 5G is attracting significant interest in the industrial world.
The challenge will be delivering on the promise of 5G. According to the Capgemini Research Institute report Making the great leap forward in 5G industrial operations, two-thirds of companies want to implement the technology for industrial operations within two years of availability but telco players may need up to three years to deliver all the features of 5G. It will require patience before all the next-generation options are available.
There are also decisions to be made around private licenses. Manufacturing and asset-intensive companies anxiously awaiting the launch of 5G may want to invest in a private network rather than relying on a telco. The option may bring more autonomy and security but hurdles may include regulations, long-term management, and operation.
Companies see the opportunities 5G can deliver to the business. Telcos need to collaborate closely to identify the areas where 5G can add value, both in the immediate future and long-term, and design an 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. The benefits of reliable, secure, real-time, high-speed data transmission will transform the industry.
Research shows companies are willing to make capital expenditures and pay a premium for 5G. The promise of faster connectivity is a powerful motivator. Telcos need to be ready for the opportunity and for customers eager for the faster speeds. By working collaboratively and cooperatively, the two sides can deliver the full potential of this transformative technology.
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