Firms boost 5G budgets on likely demand, better investment returns
Information and communications technology (ICT) firms looking to profit from this prospective growing sector are investing in the roll-out of 5G services.
Information and communications technology (ICT) firms looking to profit from this perspective growing sector are investing in the roll-out of 5G services.
KPMG's survey of Indian businesses found that about half of them reported raising their budgets, particularly for non-time-sensitive communications use cases. The report was made public during the four-day India Mobile Congress (IMC) 2022 telecom conference in New Delhi, where Prime Minister Narendra Modi on October 1st, 2022, announced the launch of 5G services. Reliance Jio stated that its services would commence around Diwali, whilst Airtel stated that it would begin providing 5G services to clients in eight locations. More than 85% of businesses across all industries expect a 20% return on investment (ROI) from 5G and other industry 4.0 use cases, according to the survey.
Virtual reality (VR)-based learning solutions are currently the most prevalent request, according to a senior executive of one of India's largest telcos. He claimed that businesses including factories, hospitals, and others are considering using 5G connectivity and virtual reality to train staff members on how to use specific products.
According to the survey, businesses anticipate that the usage of technologies like blockchain, augmented reality (AR), and machine learning (ML) will increase ROI over the next two to five years. Up to 52% of businesses indicated they anticipate 5G will boost supply chain and operational efficiency. According to the CEO of KPMG India, "5G will be a catalyst to India's road to reaching 20% digital GDP by 2025."