5G is expected to create avenues of collaboration
With the advent of 5G and the potential to boost innovation across the globe, Deloitte India and CII in a report released today have projected the Indian telecom industry to grow by $US12.5 billion every three years. India is all set to pave its path towards ‘AtmanirbharBharat’ as 5G will accelerate economic growth, increasing job opportunities and connecting the urban and rural population. It will drive efficiency in critical sectors, such as energy, healthcare, and agriculture, a step in the direction of not only commercial consideration but also social outcomes.
Together with ultra-low latency and high data rates, 5G is expected to create avenues of collaboration and alliances as well as drive India to reimagine a whole new way of engaging in the new, faster, agile digital world.
Newer trends will emerge like smartphones becoming bigger and slimmer, likely becoming more foldable or expandable. Given the embedded 5G hardware, technology will be seen summarising the world in our hands via smartphones seamlessly bending reality into virtual reality.
Digital experiences will transform traditional shopping behaviours and the focus will be on providing enhanced customer experiences by combining the benefits of physical brick-and-mortar stores with immersive shopping platforms.
While telecom companies continue to strengthen their 5G capabilities and build a robust infrastructure, various state governments are gearing up for the adoption of 5G connectivity for good governance.
In addition, the allocation of spectrum licences to non-telecoms will help promote non-public captive networks which would not only yield benefits for major telecom and technology companies, but also strengthen India’s start-up ecosystem, enabling them to operate as system integrators for enterprises and administer their 5G private networks. Deloitte expects a spurt in private network requirements in Indian industries once the benefits of the shift have been realised, ultimately solidifying the B2B enterprise telco story.
Peeyush Vaish, Partner and telecom sector leader, Deloitte India said “With the right mindset and technological prowess, the Indian Telecommunication Industry can use 5G to accelerate economic growth and resilience in the country. 5G is also expected to empower organizations to act on rich datasets in real-time, offering unprecedented visibility, insights, and control over assets, products, and services. We also expect a surge in the requirement for private networks in Indian industries once they comprehend the benefits of shifting to 5G network.”
He added, “While the current outlook for the Telecom sector looks stable, there is a need for telecom companies to revisit their strategies and keep pace with keep pace with new technologies and evolving marketplace.
Apart from commercial benefits, 5G can also work as a growth propeller for Industry 4.0 by facilitating use of Information and communication technology (ICT) across sectors like manufacturing, education, healthcare, agriculture, finance, and others. This will not only transform businesses in India but also create value for the society at large.”
