GlobalData believes APAC well positioned to lead 5G adoption by 2024
REGULATORS across the Asia Pacific (APAC) region are trying to work with telcos and network equipment manufacturers to ensure that 5G technology is rolled out and commercially available to the public as soon as possible.
According to GlobalData analysts, APAC will lead the region in terms of 5G technology, with 1.14 billion subscribers, accounting for 65 percent of global 5G subscriptions by 2024.
The analyst firm believes that countries that lead the launch of 5G services are likely to see mobile data traffic grow significantly over the forecast period.
While GlobalData listed South Korea, China, Japan, and Australia as those that are likely to lead 5G in the APAC, most experts believe Singapore will be part of that list as well.
The average monthly data usage of consumers in the region is expected to increase from 5GB last year to 11GB by 2024. At the same time, the global average monthly data usage is expected to reach 9.98GB by 2024.
Obviously, the rollout and adoption of 5G will have significant consequences for businesses — who not only need to prepare for the new reality but also explore how they can leverage the technology to delight customers.
“With the help of low latency, high reliability, and greater throughput, 5G is going to create demand and opportunities through platforms such as internet of things (IoT), virtual reality (VR), and robotics,” said GlobalData Telecom Market Data and Intelligence Research Analyst Ramya Sindhu-Jetty.
According to Sindhu-Jetty, 5G is expected to influence segments like automobiles, manufacturing, and IoT. To support the needs of businesses, the GlobalData analyst highlights that operators like China Telecom are looking to create a robust ecosystem of cloud, artificial intelligence, and 5G.
Businesses that want to delight customers in the coming months must also keep in mind that fundamentally, customer expectations are bound to rise with the arrival and mass-adoption of 5G.
Hence, high-touch organizations must start exploring how they can build deeper, more meaningful connections with customers, even at a distance.
Tech Wire Asia has previously highlighted 5G use cases in the automobile, healthcare, and even agriculture space, among others. In the past six to twelve months, those use cases were quite theoretical. However, with commercially available, scalable 5G technology just around the corner, 5G innovations are becoming more realistic and practical.
Businesses that pay heed to GlobalData’s forecast and think about building and leveraging 5G-powered ecosystems will definitely win big in the coming months.
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