Enterprises Believe 5G Will Help Generate New Revenue Streams: Infosys Research
Infosys surveyed 850 senior executives representing firms from 12 industries with annual revenues over one billion dollars across the United States, Europe, Britain, Australia and New Zealand.
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A new market research study by Infosys Knowledge Institute has gathered empirical evidence to show how mass machine communication is expected to be the most transformed application with 5G and why data security emerges as the most critical barrier to its adoption.
Infosys surveyed 850 senior executives representing firms from 12 industries with annual revenues over one billion dollars across the United States, Europe, Britain, Australia and New Zealand. The research titled 'State of 5G -- The Road Ahead' was aimed at gathering insights around the current state of 5G adoption and identifying current and future initiatives that can serve as a guide for business and technology leaders across enterprises in their 5G digital transformation journey.
Key findings of the survey show that a staggering 90 per cent of the respondents are either actively investigating 5G business cases or defining various use cases and service portfolios with ecosystem partners.
Besides, nearly 60 per cent of respondents mentioned cost and effectiveness as the primary criteria for use case adoption, while 57 per cent of surveyed enterprises are looking at 5G for new revenue streams.
Over 50 per cent of enterprises are looking for 5G use cases that can help them disrupt the market or drive their brand forward. Data security (59 per cent), finding the right talent (57 per cent) and device readiness (57 per cent) were identified as key barriers in 5G adoption.
Industry-wise, energy and utilities call out integration while manufacturing mentions virtualised 5G core deployment as key challenges. Maintenance of the new technology (47 per cent) and defining a roadmap for artificial intelligence and machine learning technology advancements (33 per cent) emerged as key challenges post-implementation.
Nearly 50 per cent of enterprises firmly believe that system integrators play a vital role in 5G deployment.
"5G holds significant transformation potential for both network providers and enterprises that will consume it," said Nitesh Bansal, Senior Vice President and Global Head for Engineering Services at Infosys.
For network providers, he said, there are significant opportunities for network virtualisation, artificial intelligence and automation while considerably lowering associated costs and enhancing the delivery of network-based services.
For enterprises, on the other hand, it unlocks significant value with the addition of use cases that were not possible without low latency and high bandwidth network coverage.
"Through our research, we are looking to present a comprehensive view of the adoption and barriers in implementing 5G. The research also highlights relevant use cases that will serve as a ready reckoner for businesses looking to explore new opportunities in the 5G space," said Bansal.