How 5G Technology Will Drive Future Business – Huawei, Partners

HUAWEI Technologies, leading global provider of information and communications technology (ICT) infrastructure and smart devices, recently held its 5G+, Better World Summit, where various operators and industry partners shared their experiences of how 5G applications can drive significant business and industry efficiency.

Several Huawei partners during the summit highlighted the different industries that are getting great benefits out of 5G. Even as they say 5G’s Impact on Global GDP is over $7.5 trillion.

Bob Cai, Huawei Carrier CMO in his address said; “5G development has entered a new phase.”

“With over 80 5G networks commercially available worldwide, determining how to leverage 5G to create more value is currently a topic of great interest within the industry.”

“Currently, 5G for business is still more of a branding concept, and more solid work needs to be done. To build a positive business cycle, work should be done in four aspects: technology, ecosystem, standards, and business model.” 5G will drive future business

Dimitris Mavrakis, research director of ABI research, highlighted that new ‘G’ technologies have historically offered major benefits to consumers. 5G, however, is likely to be most beneficial to the commercial sector. By 2030, Mavrakis predicted that 5G’s impact on the global GDP will be over $7.5 trillion – compared to the $5.1 trillion 4G contributed in 2019.

“We expect that 5G will transform businesses in the same way 4G transformed consumers,” said Mavrakis. However, he cautioned that it could take several years for the manufacturing world to adopt the technology. Mavrakis also implored governments to provide opportunities for 5G to flourish within their countries, and highlighted ways that this is already being done, such as in the provisioning of free 5G spectrum and the reduction in taxation of carriers. Several Huawei partners also highlighted the different industries that are already getting great benefits out of 5G.

Xu Mengqiang, General Manager of China Mobile Ningbo, highlighted that several 5G implementations have resulted in substantial benefits to a Ningbo port.

These include 5G-powered self-driving container trucks, remote controlled cranes, and backhaul HD video streaming – which shows key cranes in real time.

The Ningbo port envisions that efficiency will be increased by over 260% while labour costs will be cut by over 70% as a result of new 5G-powered technologies.

Dr Thomas Anken is the head of the Digital Production Federal Department of Economic Affairs Education and Research in Switzerland.

Anken highlighted that 5G is enabling a variety of smart farming methods that have a significant impact on the yields of farms in the country.