Industry Digitization will be Top Opportunity for 5G business solutions
July 21, 2020
Industry digitization will generate an estimated $700 billion market opportunity for service providers by 2030, equivalent to approximately 35 percent of current industry revenue, says Ericsson President and CEO, Borje Ekholm.
Moreover, Ericsson found that 70 percent of enterprises are seeking to engage with a non-telecom service provider, while a third already consider communications service providers as an important partner in their digitization efforts.
Ekholm highlighted that service providers need to expand beyond traditional mobile network services to capture 5G-enabled revenue. He said that the evolution of cellular IoT and private networks is crucial in establishing momentum for 5G-enabled businesses.
Ericsson has established partnerships with multiple tier one operators, such as Telstra, Deutsche Telekom and Telefonica, to provide dedicated cellular connectivity solutions to their customers.
In China, Ericsson is a partner for all 5G service providers and is actively working with each to explore 5G applications in different industries. In 2019, Ericsson signed an agreement with China Mobile and Shaoguan Steel Group in Guangdong to jointly build a 5G smart mill and explore 5G industrialization. Ericsson also deployed its Ericsson Dedicated Networks platform to connect more than 10,000 square meter, in cooperation with China Mobile.