Study finds 5G investment set to soar

February 28, 2020 //By Jean-Pierre Joosting
Study finds 5G investment set to soar
According to a new EY study, which surveyed more than 1,000 enterprises globally on the 5G opportunity, fifteen percent of enterprises are currently investing in 5G, rising steeply to 69% within three years. Yet, less than half (48%) are confident they can transition to 5G-based Internet of Things (IoT), with 74% indicating that they need to overhaul the operating model to realize implementation.

The study finds that most enterprises (74%) believe 5G will enter the fabric of their business over the next five years. However, of those investing in fifth generation technology today, 67% are either engaging in trials or are in discussion with suppliers, rather than moving to the operational phase.

This caution is driven by several key factors, including knowledge gaps around use cases (75%) and a perception of 5G as an incremental progression on 4G (69%). In addition, respondents cite integration with existing technologies as the biggest internal barrier to adoption (37%), while the perceived immaturity of 5G technology tops the list of external challenges (35%).

Tom Loozen, EY Global Telecommunications Sector Leader, says: "Enterprises are aware that 5G can fundamentally reshape their organizations. To succeed, they need to develop a road map that is aligned to the broader landscape of technology transformation, but anxieties persist around technology integration, maturity and cybersecurity. To overcome this inertia, 5G vendors need to articulate a more compelling vision of the opportunity, while enterprises need to educate themselves on the game-changing possibilities that go beyond efficiencies alone."

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