5G to Offer Huge Business Opportunity in India By 2026
Published Date | 2018 September 12
5G mobile services are projected to create a business opportunity of over USD 27 billion for India by 2026.India: India is eager to launch the 5G services along with other nations who are technologically advanced after the technological standards have been finalized by United Nation's telecom body ITU. The telecom operators are presently recounting an average top speed of around 22 mbps on their 4G networks, although 5G services tests have shown a download speed of over 1000 mbps or 1 gbps. 5G network will enable a market of worth USD 27 billion business opportunity in India. Out of which USD 13 billion is the revenue opportunity for the mobile operators in India. This latest technology will have a positive impact on the telecom industry in the near future. According to Nitin Bansal, Ericsson has already started the trials with Indian telecom operators for the advance technology which will help them in 4G to 5G transition with the usage of the spectrum in which they will be providing mobile services. As per the recent report by Ericsson, by 2023 over 10 million 5G subscriptions will be there in India. “Ericsson is currently doing Massive MIMO trials with Indian telecom operators. These products enable a smooth evolution from 4G to 5G. All radio products within Ericsson Radio System delivered since 2015 support 5G new radio capability through remote software installation. It enables fast and smooth migration to 5G in existing bands," Bansal said. According to a study by Ericsson’s on 5G Business, digitalization will have a revenue opportunity for Indian ICT industry of over USD 27 billion by 2026. If the Telecom operators expand their role from being a provider for connectivity and infrastructure to become a service creators and service enablers, then they can gain a profit from 5G-enabled market opportunities. According to BlueWeave Consulting, the telecom industry will have a potential growth in the upcoming years due to the 5G technology. India is currently standing at a vital edge as the government is looking for the potential advantages and benefits of a growing digitized economy, in terms of budding 5G technologies. A 5G spectrum allocation policy is being announced by the government, and also recommended additional airwave bands for the next-gen technology support that might have an economical blow of more than $1 trillion. The government recommended that for trail purpose free bandwidth will be assigned for a fixed time frame for setting up of the network. The telecom operators should also keep in mind that even after the entry of 5G networks in Indian, the 2G, 3G and 4G will continue to be used and it will take another good ten years to fade out.