According to Bell Labs Consulting, companies that have adopted the 5G business segment in the wireless market can only show a 10% increase in productivity in the Covid-infected market. Nokia estimated that the 5G telecommunications market could add $ trillion by 2030.
“In a world that increasingly runs on the transfer of huge volumes of data, the step-change 5G will create in capacity, bandwidth, and latency represents a megatrend that will catalyze multiple technological revolutions.” Explained by Gabriela Styf Sjoman, Chief Strategy Officer, Nokia. She further explains, ” Areas of innovation that have been gradually emerging – from blockchain to augmented and virtual reality, artificial intelligence, and robotics – will rapidly accelerate their development as 5G makes high speed, live=streaming data a reliable reality. In turn, our capacity to collaborate remotely, to operate autonomously, and to manage resources more intelligently will increase by orders of magnitude. We will enter the era of digital-by-default.”
While many companies foresee 5G as a technology for the near future, deployment varies by organization, industry, and geography.” As stated by Raghav Sahgal, President, Nokia Enterprise. 35.9% of companies are planning to invest in 5G during 2021-2025, and 16.6% of companies are planning to invest in 5G during 2026-2030. According to Nokia 5G readiness scale, 17% of companies are showing low 5G maturity as they are either in the passive or discovery phase. 50% of the companies are in the early planning stage showing midway level on 5G readiness. If you talk to the implementation and expansion stage, then 26% and 7% of companies come under it that show 5G mature stage.
Around 50 percent of organizations across eight nations – Finland, Germany, Japan, Australia, Saudi Arabia, South Korea, The UK, and the USA- can stand between the early and 5G mature stages. 5G mature stage organizations exhibit a minuscule fraction as a whole 50 percent. Only 13% in Saudi Arabia,12% in the USA, 3% in Germany, 3% in Finland, and 4% in the UK exhibit 5G mature stage.
Nokia Advancement into 5G market
The 18 high-quality 5G networks have already lived around the world by Nokia. It has secured 100 5G agreements and 63 global 5G contracts. Its latest end-to-end portfolio can give the benefits of slicing and upselling to new markets. Nokia R&D wing, Nokia Bell Labs, has been tirelessly working in the wireless market by securing 2,000 patents to 5G standards. In the latest developments, European mobile carriers Orange and Proximus will partner with Nokia to provide a 5G network in Belgium and revoked the deal with Chinese telecom giant Huawei.
Today, the world is burgeoning towards 4.0 acceleration. 4.0 commences towards rapid automation and merger of AI and IoT. The refined and organized implementation of 5G can only bring revolution in 4.0 industrialization. 5G has the immense capacity to connect billions of IoT-enabled devices. Nokia 5G bolder and collaborative approach can transform overall business and its strategies. Nokia will fuel growth and complete digitalization through its mature 5G telecom instrument.