EY has released the findings of a survey conducted to understand corporates perspectives around 5G.
According to the study of more than 1,000 global enterprises:
- Amongst corporates investing in 5G, 23% operate in the energy sector and 22% in the technology industry. However, health care (61%) and the financial services sectors are expected to become the biggest investors within the next three years.
- Of the 1,000 surveyed, 69% will invest in 5G within the next three years, up from 15% this year. 74% believe 5G will enter the fabric of their business over the next five years. Of those investing in 5G today, 67% are either engaging in trials or are in discussion with suppliers, rather than moving to the operational phase.
- 47% are confident to deploy 5G-based IoT. 74% of these need to overhaul their operating models.
- 52% are not confident in the ability of their organisations to implement 5G-based IoT.
- The US is set to lead 5G investment over the next 12 months and beyond. Amongst enterprises investing in 5G, 19% are in the US, 13% in Europe and just 10% of Asia-Pacific enterprises are currently investing
- 37% say integration with existing technologies is the biggest barrier to adoption, whilst 35% say technology’s immaturity.
- 79% say they require external support to generate robust 5G use cases, while 77% prioritise vendors to deliver 5G business outcomes as partners – rather than offering pure cost benefits.
Tom Loozen, EY Global Telecommunications Sector Leader, says: “Enterprises are aware that 5G can fundamentally reshape their organizations. To succeed, they need to develop a road map that is aligned to the broader landscape of technology transformation, but anxieties persist around technology integration, maturity and cybersecurity. To overcome this inertia, 5G vendors need to articulate a more compelling vision of the opportunity, while enterprises need to educate themselves on the game-changing possibilities that go beyond efficiencies alone.”
Click here for more information about the report.