A new report from Keysight Technologies reveals some of the key reasons companies are choosing to invest in 5G technology.
We know that 5G will improve mobile broadband speeds, reliability, and reach for the general public. It’s also expected to pave the way for advanced public services like automated cars and smart cities.
But what tangible benefits are there for companies investing in 5G today? The recently released Keysight 2018 State of 5G survey provides some interesting answers.
Of the companies quizzed by Keysight Technologies, more than half (53%) claimed that customer demand was driving their current 5G investment. The need for a flexible and scalable network came next with exactly half of respondents, while just under half (46%) claimed that they are investing in 5G technology to secure market leadership.
Interestingly, headline 5G features like greater network speeds don’t seem to be an immediate concern to most companies. Only around a third of respondents cited it as a major cause of 5G investment, though a massive 78% conceded that this would be the biggest benefit of 5G.
Virtually all (98%) of the companies quizzed believe that 5G will have a significant impact. Around two thirds (63%) of those companies felt that higher reliability and lower latency would be the most impactful aspects of 5G, while the technology’s greater flexibility - as expected to be seen in things like on-demand provisioning and slicing - was highlighted as a major prospect by 57% of respondents.
It’s unsurprising that the majority of respondents pointed to the telecommunications and technology industries as being the biggest beneficiaries of 5G. What’s more interesting is that the financial services and service industries were the next most popular industries cited (37% and 36% respectively).
This just goes to affirm that 5G will prove transformative to a range of everyday industries, and not just those directly involved with network technology itself. Most of the companies quizzed (69%) claimed that they were “actively seeking 5G-capable testing solutions to support and accelerate the development or rollout out of 5G technologies”.
For the average consumer, then, this should all come as a considerable encouragement that 5G is much more than just a flighty concept. Companies are taking it seriously, and are already investing heavily in a bid to secure a competitive advantage.