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Accenture Study: Businesses underestimate the prospects of 5G technology

Accenture Study: Businesses underestimate the prospects of 5G technology

The government/public sector has the lowest awareness of 5G, with 59 percent believing it will be 10 times faster than 4G.

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Business and technology executives globally underestimate the disruptive potential of 5G technology that will result from increased network speeds and capacity, according to results of a global study from Accenture.

A survey of more than 1,800 executives from midsized and large businesses across industries in 10 countries found that most of them (53 percent) believe there are “very few” things that 5G will enable them to do that they cannot already do with 4G networks. Fewer than two in five executives (37 percent) expect 5G to bring a “revolutionary” shift in speed and capacity.

At the same time, executives acknowledge that the technology has important competitive implications. Sixty percent of executives believe that 5G will cover nearly all the population by the year 2022, and 70 percent believe that 5G applications will give them a competitive edge with customers. More than two in five executives also expect 5G to have a “significant” impact on speed (46 percent) and capacity (42 percent).

“The reality is that 5G will bring a major wave of connectivity that opens new dimensions for innovation and commercial and economic development,” said George Nazi, Accenture’s Network practice global lead. “Breakthroughs in three-dimensional video, immersive television, autonomous cars and smart-city infrastructure will unleash opportunities that are difficult to imagine today but will soon be transformative. Telecommunications companies will play a pivotal role in bringing these prospects to light.”

Among the study’s other findings:

  • The perceptions of 5G vary across industries, with more than half (53 percent) of executives in the energy sector believing that 5G will have a revolutionary impact with its ability to reach new places – like remote and inhospitable areas – compared with just 41 percent of all executives surveyed.
  • The government/public sector has the lowest awareness of 5G, with 59 percent believing it will be 10 times faster than 4G, compared with 67 percent of all respondents. Additionally, only 66 percent of government executives, compared with 78 percent overall, believe that using 5G for connectivity in the workplace will make businesses more secure.

Source: MoneyControl.com

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