How Businesses Can Use 5G Technology
5G is one of the main emerging trends in the telecommunication sector. It is, first of all, an opportunity. 100x higher speed than 4G’s one triggers a long chain of changes: new services, business models, sources... Not only telco but a variety of other domains will benefit from the technology after its full implementation. But now, let's consider how the revolution begins. Unicorn startups and powerful partnerships can already offer magnificent 5G-based products. What exactly? And what will help you to become one of these lucky ones? All the answers are below.
Emerging trends in telecommunication sector: can Business Benefit From 5G Technology
5G CSPs win a chance to reinvent themselves. New customer relationships, new partnerships, business models, and revenue streams, as well as the opportunity to become a leading innovator of technologies.
Shekar Ayyar, EVP and GM of the Telco
and Edge Cloud Units at VMware
The first thing that comes to mind during this topic discussion is "What will the business get from the 5G spread?". Some do not notice the advantages and vice versa, say that small telecom providers will go bankrupt under such conditions. But it is not quite so. Several programs guarantee local companies full 5G access, so small businesses here will live. And now, let's back to the main.
Key benefits that 5G wind of changes will bring
Efficiency. Enterprises can provide quality service assurance, increasing the response speed proportionally. The customer experience will improve, the CLV will grow. Users will get timely satisfying needs, the supplier - a wide happy audience.
New opportunities. 5G will allow enterprises to launch innovative solutions that were previously almost impossible to implement. It will help to offer more to get out of competition. Take at least AVATOUR - the Imeve’s development. Engineers designed a technology that enables users to recreate live presence conditions in a particular place. The product forms an avatar of each speaker and adapts it to a certain space (like the production or conference hall).
The most important result of the 5G impact on modern medicine became the world's first remote surgery operation in China. Over the past few years, enterprises have also developed a variety of services that offer to reduce live visits to doctors and serve remotely. Under coronavirus conditions, this convenience became a necessity.
Additional sources of profit. The Telecom sector will be especially lucky here. Now, its representatives can easily create 5G ecosystems in different domains (medicine, environmental protection, communications), and use a profitable b2b2x business model. For instance, some telco companies like AT&T and Airtel except their services plan to create 5G devices.
Easy investment attraction. It is effortless for startups building 5G-based products to enter into partnerships with larger companies. A striking example is Google's cooperation with the Indian company Jio. Together, they produce low-cost smartphones and laptops that support 5G. "They will launch devices at the end of the second quarter of the 2021 fiscal year," reports India Today.
One more pleasure option for businesses is the ability to create private networks. Last fall, Verizon partnered with Microsoft and Nokia to help businesses seamlessly use 5G without having to fight for speeds.
How Fast Code Platform Boosts 5G-Adapted Service
As the 2020-2021 events confirm, the total 5G expansion is not far off. Business needs to adapt to all the changes ahead and try to make the most of them. XME. fast code platform will become a reliable tool for this purpose.
The environment can equip you with all the tools you need to develop a 5G-based product rapidly. Users have the opportunity to use the real experience of other companies and customize it. This approach allows you to:
prepare the software ground by eliminating all existing bottlenecks
create robust SaaS products, expanding the scope of commercial activities
Is it possible to create the right 5G product for the audience in a short time and benefit from it? It all depends on the complexity of your idea. Anyway, the fast code platform will accelerate its implementation 2x, compared with development from scratch.
One of the key fast code platform's benefits is open source. You can make any product changes or use the source code for further development without being tied to the vendor.
In 4 weeks of active development, you will receive a working, high scalable, well-integrated prototype. Imagine what the product will be like after all the improvements.
Supported by XME.platform, your business will be ready to grow and function efficiently under any conditions. Don't worry about 5G. Use 5G.