Many communication companies are eyeing the 5th generation wireless technology due to its high-speed connectivity. Even now, there is already a significant number of communication service providers making plans and launching trials in preparation for 5G. The technology’s high-speed connectivity is a giant step from 4G mobile technology. 5G is up to 100 times faster than 4G technology with extremely low latency. A significant portion of revenue from 5G deployment will go to communication service providers. Below is a guide to monetizing 5G:
Internet of Things
Due to 5G’s blistering speed, it can be used to monitor IoT devices in smart homes and smart offices remotely. The technology can support a massive number of IoT devices simultaneously. With low latency, communication service providers (CSPs) can earn significant amounts of recurring revenue. 5G technology can connect to embedded sensors, devices, as well as, beacons in billions.
Telecommunication companies use the high data capacity of 5G technology to deploy specialized virtual networks. 5G can provide networks that can handle low volume sensor data, as well as, higher functioning networks.
High Speed 5G Mobile Broadband
Since 5G is primarily a mobile technology, it can be used in the same fashion as its predecessors. CSPs can generate a substantial amount of recurring revenue through usage-based fees on mixed subscriptions. 5G can handle a massive number of data volumes due to its incredibly fast data speed. Below are some of the monetizing opportunities communication service providers can utilize;
- Immersive Experience
The widespread adoption of 3D technology augmented reality (AR), and virtual reality (VR) could not have come at a better time. Through 5G, people get to have an immersive experience with high definition movies, video games, and sports.
- New Content Services
CSPs can monetize new data-intensive over the top (OTT) services by partnering with OTT service providers. This is a new way of earning advertising revenue by delivering multimedia content to individuals vehicles, concert setting, and sporting events just to mention a few.
- Fixed Wireless Broadband
Fixed wireless broadband is the shortest route to monetizing 5G technology. Most 5G technology scenarios target mobile devices, but wireless broadband is used for homes, offices and other static locations. Besides, there already exists a growing market for fixed wireless broadband. The main selling point for fixed wireless broadband is that it promises affordable deployment that delivers extremely high internet speed. With 5G, companies won’t need to pay for running physical cables. Since 5th generation technology is set to use radio frequencies, there is no longer the expense of running cables.
Monetizing 5G for Manufacturing
5G technology offers a robust opportunity for operators in today’s era of intense volatility due to shorter product lifecycles. Manufacturing companies are under pressure since they have to squeeze margins more to gain a competitive edge over rival businesses. 5G technology ensures that the manufacturing industry achieves the much-needed gains in profitability and efficiency. 5G and internet of things enable advances in automation, artificial intelligence and augmented reality for manufacturing.
The partnership between telecommunication operators and manufacturing companies helps manufacturers to achieve smart factories. Operators have an opportunity to create new revenue streams since manufacturing is a significant sector. Industry digitalization with the help of 5G technology is a new revenue potential for telecommunication operators.
5G technology guarantees a more connected planet since it will not only connect people but also allow machines to communicate with one another. The advent of 5G technology will also see an unprecedented interdependence between CSPs, OEMs, content providers, and vendors as they share responsibilities, revenue as well as service delivery. 5G technology also promises a mutually rewarding relationship between telecommunication companies and customers. Contact Intraway to get tips to prepare yourself for the 5G revolution.