5G technology could accelerate disruption
Many decision-makers are reluctant to embrace 5G technology - due to technical skepticism, high upfront investments, security concerns, and a lack of skilled workers. Accordingly, the disruptive potential of 5G technology is underestimated.
According to a global study by consulting firm Accenture, only slightly more than one in three of the decision-makers surveyed (37 percent) expect 5G technology to bring about a "revolutionary" change in terms of the speed and capacity of network solutions. More than half (53 percent) currently see only "very few" new deployment scenarios that 5G will enable compared to 4G technology. Six in 10 of the executives surveyed believe 5G will cover nearly the entire population by 2022. "5G will bring a big wave of connectivity, opening up opportunities for innovation, commercial and economic developments," said Thomas D. Meyer, Country Managing Director of Accenture Switzerland. "Our everyday lives will be transformed by autonomous driving, smart city infrastructures, three-dimensional videos and immersive TV. The question is not if they will, but when. Companies need to prepare for this now."
Hurdles still outweigh potential at present
In terms of potential customer benefits, corporate decision-makers see great potential in the new network standard. 70 percent of respondents believe that 5G applications can give them a competitive edge in their dealings with customers. However, perceived obstacles are clouding the spirit of optimism in companies: CEOs and IT decision-makers primarily fear high upfront investments (36 percent) and express security concerns (32 percent) when introducing 5G technology. In addition, 29 percent of respondents expect a continuing shortage of qualified specialists.
5G technology needs partners
Collaboration with suitable partners is seen by 72 percent of the executives surveyed as an important component on the path to successful implementation of 5G technology. However, more than half (60 percent) of the executives state that partners from the telecommunications sector in particular often lack knowledge about the challenges and potential of 5G technology for their own company's respective industry.
"In the end, it is the incredible added value of this technology for companies and people that will be decisive, despite all the reservations that are currently being discussed in connection with 5G," emphasizes Meyer. "I advise companies to focus on the benefits and potential of this technology and to put aside their reservations as quickly as possible."
