Information and Communication Technologies (ICT) players in the UAE who leverage 5G to digitalise industries can capture business worth $6.5 billion by 2026, according to a new report from Ericsson.
The report is titled The 5G business potential - Industry digitalisation and the untapped opportunities for operators , and it analyses the 5G business opportunity that comes from industrial digitalisation, 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 digitalisation, Ericsson foresees revenue potential of $3.1 billion for UAE telecom operators by 2026.
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 organisational 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 digitalisation is only just beginning.