With 5G technology heralding a new age of faster connectivity speeds and lower latency rates, industry players are making sure that they can implement its benefits and capabilities on current business models.
Based on the results from the June edition of the Ericsson Mobility Report, the technology uptake forecast will be faster than expected and a global technology shift will take place, establishing interconnectivity between people, enterprises, and systems on a global scale.
The Swedish network equipment maker said the Philippines will reap the benefits of being a hub of digitalized operations since 5G will increase the pull for foreign investors. While interest is growing for the successor of 4G, operators are now aiming to get first mover advantage against competitors.
This will have a significant impact on mobile operators, as 5G will modify network architecture design and network operation deployment that will simplify operations while making it easier to manage growing traffic and securing new revenue streams.
“We have been actively investing in R&D to establish a flexible portfolio with 5G-ready radios, spectrum-sharing solutions, virtualized network functions as well as cloud native applications to a allow for a seamless transition,” shared Nunzio Mirtillo, head of Ericsson SEA, Oceania, and India.
Mirtillo added that Ericsson was the first to deploy 5G live networks in four continents. They currently run 18 live networks. Globally, the revenue projection for 5G- and IoT-enabled networks is estimated at $619 billion. That’s on top of their forecast service revenues of $1.7 trillion by 2026.
By Q4 of 2019, 5G subscriptions are also projected to rise to 10 million and by 2024, 45% of the global population will be accommodated by 5G coverage. The latter statistics, however, is expected to jump to an additional 20% since spectrum sharing can deploy 5G on LTE frequency bands.
“We have also recently signed a MOU with Smart to launch Clark City as the country’s first Smart 5G city as well as an alliance agreement to accelerate 5G innovations in the Philippines,” said Martin Wiktorin, head of Ericsson Singapore, Brunei, and the Philippines.
He added: “With ready and available spectrum, the Philippines has great potential for a game-changing 5G opportunity.”
Wiktorin also mentioned that their collaboration with Smart penetrates all levels of society: from connecting remote provinces with the rest of the world to preserving the country’s environment through Internet of Things (IoT) solutions, much like the current trend in startups.
“At Ericsson, we have been a long term partner to major operators in the country, where we have established a strong local footprint over the past 31 years,” explained Wiktorin.
He also noted that their company is more than ready to lead the 5G revolution since they started making 5G-ready products years before, especially in smart city integrations.