How to Catch 5G Monetization in 2022: Use-cases, Trends, Guides
In this Article:
3.1. B2B Model
3.2. B2B2X Model
They say that the era of new digital opportunities is coming. I’m saying it’s already here. The global crisis showed how fast businesses can grow in challenging conditions. At the beginning of 2020, 77% of 5G operators did not bundle 5G-rich apps. Today, 47% of respondents admitted their companies started planning 5G implementation and thinking of monetization.
The level of engagement has changed, so why not talk about it? Below, you’ll discover how the next generation affects business development, what’s new in 2022, and how to prepare your business for 5G monetization.
5G Means New Revenue Streams. Use Them
5G versatility leaves no doubt that the technology can and should be applied to every industry. Companies need to use their chance to launch new services and modernize current. It will bring them:
an additional revenue stream
a wide, diverse, and happy audience
beyond the competition zone, stopping the rat race
5G for individuals
Monetizing 5G capabilities vary and start with telco providers. Until recently, US large companies like Comcast or Verizon did not charge fees for new generation facilities usage. Today, some of them are acting in this direction, turning a free opportunity into a full-fledged service. For example, Comcast recently renewed pricing information. Buying 1 unlimited 5G line costs $45, 2 lines - almost half as much as $80. For the purchase of three lines, the user will have to pay $100, and for the buying of four - $120. The following lines will cost $20.
The US government, already worried about relatively high Internet prices, recommends telco providers slow down. Its goal is to ensure that 5G is accessible to all Americans. Most likely, the state will set a fund to ensure 5G accessibility.
Some telco players decided not to wait for imperative measures and cut 5G services costs. Following Bloomberg, T-Mobile has reduced the price of its 5G wireless home broadband service by 17%.
5G for business
In other business areas, enterprises receive complete freedom of action. 5G is driving the limitless development and usage of B2B and B2B2X business models.
B2B Model
Let’s consider it using the agricultural sector's success. FarmX is the US eco-farm that provides fresh products to restaurants. It uses a 5G-based solution that simplifies relations with partners, manages and controls farm processes, etc.
One more bright example of B2B cooperation is the large Brazilian farm region Rio Verde and Huawei. It produces over 1.2 mln tons of grain per year. The farm uses Huawei 5G powers for it.
The new generation helps farmers save their time, providing accurate farm management, disease prediction, and constant monitoring.
B2B2X Model
B2B2X involves cooperation between a telecom operator and any industry representative to provide services to myriad end-users. Do you remember the live broadcasts? Due to this model usage, they will become more quality and accurate. In the healthcare domain, this model is also important. It is a new opportunity to support heart implants for patients worldwide and track their work dynamics.
Top 5G Monetization Trends of 2022
Public & Private sectors collaboration
Earlier, we talked just about B2B cross-industrial partnerships. Now the range of engaged entities becomes broader because of governmental agencies. This year, companies and public authorities will work side-by-side to create a seamless 5G connection between countries.
Demand from new industries
Telecom, retail, constructions, and other domains have already used the benefits of 5G and complex services. Now it's time for logistics, the agricultural sector, geology, etc. They will use new B2B2X-based services to boost business agility.
IT infrastructure transformation
Close cooperation between two or more companies from different domains requires software readiness: one database, robust integrations, etc. Enterprises are looking for suitable ways to improve BSS, ensure a high-security level, and create decentralized networks.
You may also like: The Second Wind for BSS: How to Adapt It to 5G and IoTThe volume of transactions will grow
Nokia predicts that the number of transactions will exceed legacy software capabilities. This year, enterprises will continue to modernize outdated systems to remain flexible and customer-centric.
What Should Be Done For 5G Solutions Monetization?
"Over the coming four years, companies will invest heavily — up to $57 billion — to build higher network density, add spectrum, and upgrade active equipment. By identifying and tapping into these opportunities, operators have the chance to ensure that the returns on their 5G investments exceed those from 4G. But to achieve this, operators will need to develop or acquire several vital capabilities." PwC, Making 5G Pay
Software-defined network. Transform your traditional hardware-bound architecture into the cloud one to get the most out of 5G monetization. Cloud makes it possible to manage complicated services centrally.
Boost BSS/OSS capacities. They should operate through open APIs and stay available to a wide range of users.
Ensure high-quality orchestration. It will allow coordinating the service provision, knowing that the products are consistent with each other and activated on demand by the client.
Take care of a high level of component integration and productive cooperation with telecom providers. Make associations with cutting-edge services to launch them.
Successful 5G Monetization With the Cloud Fast Code Platform
Idea launching is always risky. Particularly, in the matter of new technology usage. Of course, there is room for testing but no room for error. Dozens of your competitors also strive to create something innovative.
Thinking on monetizing 5G opportunities, remember that this process must be cost-effective and flexible. It allows saving your company from risks of failure.
It seems that it's an arduous task. But what if we tell you that it's possible to make it so effortlessly?
Fast-code tools aim to help you benefit from 5G to support your business growth:
4 weeks for idea deployment into a usable application. Your team can design and test a prototype rapidly due to a set of modern instruments and build-in templates. Validate ideas fast to find unicorns.
Launch a product 2x faster. Solving all primary technical issues will enable a team to focus on complex business logic implementation. The risk of human errors is minimal. Development speed is 50% faster than creating the custom product from scratch. Your service will be one of the first in the market.
Customer Experience, Employee experience matters. XME. fast code platform can help you create a responsive, highly scalable, and well-integrated 5G-based service. You may quickly respond to changes in the business environment and adapt to them profitably.
Cloud-native Digital BSS builder. Here you can create in-house apps, empowering BSS/OSS systems and transforming the existing infrastructure.
As seen, 5G requires a versatile, agile approach from businesses. Our solution will help you get all at once: both create the base you need for 5G monetization and turn your business ideas into impressive results.
Looks good? Drop us a line to discover how we can help you use 5G monetization benefits.