In a new report from Ericsson, ICT players who leverage 5G to digitalize industries can capture business worth 6.5 billion US dollars by 2026 in UAE.
The report is titled "The 5G business potential - Industry digitalization and the untapped opportunities for operators" and it analyzes the 5G business opportunity that comes from industrial digitalization, focusing on eight key global industries, including: manufacturing, public safety, financial services, healthcare, automotive, public transport, media and entertainment and energy and utilities.
For telecom operators who address industry digitalization, Ericsson foresees revenue potential of USD 3.1 billion by 2026 in UAE (for telecom operators only).
The report shows that manufacturing and energy/utilities sectors represent the biggest opportunity for revenues created or enhanced by 5G. To capture this market potential requires investment in 5G technology, but also business development, go-to-market models and organizational adaptation. To leverage the power of 5G technologies, operators need to rethink their role and what value to deliver, and what business models to use.
The fast-paced change in business ecosystems and disruptive technological advances affect vertical industries to different extents. As the world becomes ever more digitally and globally connected, industries are experiencing an ICT-driven transformation. For operators, traditional methods of revenue are slowing; however, the market for industrial digitalization is only just beginning.