5G to garner major investments from 70% of Indian enterprises in next three years | The Financial Express

5G to garner major investments from 70% of Indian enterprises in next three years

Not just telecommunication enterprises but companies in various other sectors are keenly eying to tap into the benefits of the 5G technology, the survey noted. Out of the total 56 enterprises factored in for the survey, 18 per cent have already started investing in 5G technology.

5G to garner major investments from 70% of Indian enterprises in next three years
The auction for the 5G spectrum concluded on August 1, 2022. A total of seven spectrum bands were auctioned.

Almost three-fourth (70 per cent) of enterprises in India are willing to make the highest investments in 5G in the next three years as compared to other emerging technologies such as AI (artificial intelligence), blockchain, quantum computing, among others, a survey by Ernst & Young has found. With the advent of the 5G technology right around the corner, Indian enterprises need to focus on cross-industry collaboration to unlock the full potential of the technology, the EY report added. The auction for the 5G spectrum concluded on August 1, 2022. A total of seven spectrum bands were auctioned. The total frequency totalled up to 72,098Mhz, out of which,71 percent has been sold to various telecommunication companies. Reliance Jio emerged as the top buyer with an expenditure of over Rs 88,000 crore.

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Not just telecommunication enterprises but companies in various other sectors are keenly eying to tap into the benefits of the 5G technology, the survey noted. Out of the total 56 enterprises factored in for the survey, 18 per cent have already started investing in 5G technology. 20 per cent of all enterprises surveyed planned to invest in the emerging technology in the next one year. Half of the enterprises plan to invest in 5G in the next two to three year. An almost similar number of enterprises are exploring the relationship of 5G with other emerging technologies, including AI and cloud computing. 5G is believed to have limitless possibilities and myriad benefits. Among these beneficial vectors of the 5G technology, AR/VR, live-streaming, and cloud gaming, emerged as the top 5G uses.

The report also noted that the 5G era will require a co-innovation approach between all stakeholders ranging from technology players to academia to the government. The collaborative approach is expected to establish and foster a robust ecosystem and regulatory framework that will help the country seize the 5G-enabled opportunities. Prashant Singhal, Emerging Markets Technology, Media & Entertainment, and Telecom (TMT) Leader, EY, in a statement, said, “5G in India will transform the socio-economic fabric as well as society at large. By enabling high-speed broadband connectivity for people, it will bridge the digital divide and promote newer avenues of economic growth. The transition to 5G will unlock new use cases and revenue streams through innovative business models.”

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