At MWC Shanghai, 5G mobile was a major topic as it serves as the underlying enabler for more bandwidth, IoT, and new applications across industry verticals. Major industry participants, including Huawei, LG Uplus, Government of Australia, and Nokia, all presented their views for 5G mobile services. Many presentations, rather than focusing on the technology itself, centred on the potential value 5G could bring to consumers.
The value of 5G mobile is not confined within the traditional boundaries of telecom connectivity. Instead, 5G mobile will be the enabler of services that can be realised across many industry verticals – including healthcare, agriculture, automotive, etc. 5G mobile will be the foundation for the Internet of Everything – connecting everyone and everything in our society; enabling many new services through evermore connectivity. It has been estimated by the industry that the number of connected machines will rise from 5b at end-2014 to 27b by 2024; 5G will serve as the critical infrastructure to enable such connectivity.
While the telecom industry should continue to control this key enabler in connectivity, the industry will need to collaborate with partners in various verticals to create solutions and services that enhance efficiency and productivity. New business models need to be developed along with the collaborative efforts. Value creation would shift away from basic connectivity toward application- and industry-specific solutions.
Technical Capabilities for 5G
As the technical specifications for 5G mobile are being defined, the industry’s vision for the next generation of mobile services include,
We believe collaborative platforms need to be established to enable development services and solutions that are specific to industry verticals; business opportunities would likely extend beyond the telecom industry.