Ericsson-LG Releases Global Report 'New Opportunities Through 5G in 8 Major Industries'
Automobiles offer new value propositions through 5G, such as enhanced GPS and collision avoidance features.

Through the recently released global report "New Opportunities with 5G in 8 Major Industries," Ericsson analyzed the impact that 5G, the next-generation mobile communication technology, will have on specific industries. This report takes an in-depth look at how 5G will be applied in the eight industries analyzed, what new technologies will emerge, and what the business objectives are for adopting 5G.

This report (Opportunities in 5G: The view from eight industries) surveyed over 650 chief IT infrastructure executives worldwide, including CIOs, CTOs, and CMOs, from eight major industry sectors expected to be most impacted by 5G: automotive, utilities, public safety, high-tech manufacturing, Internet/digital natives, health care, financial services, and media/gaming.

Most of the key decision-makers in the business are pursuing innovation through active investment in telecommunications technology. 94% of respondents predicted that next-generation mobile communication networks would play an important role in the strategic development of the business in the future.

<Reference Photo: SK Telecom's 5G Exhibition>

Responding to changes in continuously evolving technologies such as M2M communication, broadband connectivity, cloud, and mobile is a key driving force enabling innovation in companies and industries. A significant number of respondents stated that they plan to consider major changes to their existing businesses to leverage 5G in the future.

Rima Qureshi, General Manager and CSO of Ericsson North America, said, “Emerging technologies like IoT are bringing significant changes across industries as they become part of our economy and lifestyles. 5G will further accelerate these changes and present new uses, additional revenue, and new business models for both enterprises and consumers. Based on 5G, companies will experience the agility to respond quickly and innovatively to customer needs, as well as customized connectivity tailored to specific requirements.”

1. Guaranteed high-performance network, automobile

The business value of 5G appears significant in enhancing automotive performance and security, as well as in communication between devices. Connected vehicles are currently the most 주목ed trend in the automotive industry. While many people are looking forward to autonomous driving systems, there is even more interest in how 5G will improve GPS performance along with real-time traffic conditions and map updates.

2. Cost reduction and safe facilities, utilities

Utility companies will adopt 5G primarily to improve productivity, deliver new products and services to customers more quickly, and increase operational efficiency. Protecting facilities and assets in remote or hazardous areas through sensor-based remote monitoring and maintenance is expected to be the greatest benefit of 5G.

3. Better experience, security, and public safety for citizens

Public safety agencies aim to ensure the safety of citizens at minimal cost through 5G and IoT technologies. 96% of respondents stated that they are already investing in new technologies. They intend to expand the capabilities of connected devices and utilize network slicing via 5G to provide secure emergency communications in the event of a disaster.

4. Highest productivity, high-tech manufacturing

Existing manufacturers are facing challenges due to the emergence of new competitors and business processes. Many companies are leveraging 5G technology to increase productivity and provide a better customer experience, while simultaneously delivering new products and services to customers quickly. Many companies expect to be able to enhance risk management and remote safety and security at the site through monitoring via 5G.

5. Securing Customer Loyalty, Internet/Digital Natives

Companies in online stores, social media, digital devices and collaboration tools, and travel and car-sharing services are adopting the latest technology to attract new customers with trendy services and increase brand loyalty. 96% of respondents plan to invest to reap the benefits of 5G, stating that providing a better customer experience is the greatest benefit.

6. Improvement of quality of life, healthcare

Most respondents in the healthcare sector viewed 5G as helping to provide new services and products that improve quality of life, and 94% of respondents stated that they would significantly modify their existing businesses to leverage the strengths of 5G networks. They also indicated that the business value of 5G is important not only in terms of performance but also in terms of security.

7. Improvement of productivity and customer satisfaction, financial services

The financial services industry expects to leverage 5G to enhance real-time mobile trading and High Frequency Trading (HFT). As security is a top priority, 84% of respondents showed greater interest in providing services with enhanced security through 5G.

8. A truly immersive experience, Media/Games

Respondents in the media/game sector placed the highest priority on entertaining audiences and generating interest. To this end, they intend to leverage 5G networks to provide new immersive experiences on mobile devices, such as Ultra HD 4K or virtual reality. A significant number of respondents cited live 360-view broadcasting and fixed wireless broadband as other benefits of 5G technology.