Industrial manufacturing, retail, automotive hold highest potential of 5G adoption: Report

By: |
December 08, 2020 5:54 PM

The report is based on a survey of 300 TMT (Technology, Media and Telecom) CEOs from India - a mix of executives from fortune 500 companies and startups, according to a release.

The report titled 'TMT Industry CEO Outlook: Smart. Secure. Sustainable' was launched at the ongoing India Mobile Congress 2020.The report titled 'TMT Industry CEO Outlook: Smart. Secure. Sustainable' was launched at the ongoing India Mobile Congress 2020.

Industrial manufacturing, retail and automotive are the top three areas expected to hold the highest potential in terms of 5G technology adoption and number of use cases, according to a report.

The report – launched by KPMG in India in association with India Mobile Congress (IMC) and industry body COAI (Cellular Operators Association of India) – said that high-speed data requirements propelled by the pandemic are expected to drive 5G efforts in India.

It, however, pointed out that although telecom players are inking strategic deals with network infrastructure providers to bolster their ability to deliver 5G technology, the high price of spectrum, significant infrastructure investment requirements and regulatory policy concerns “are impeding its commercial launch”.

“While there could be some delay in the launch of 5G considering the current COVID-19 situation, elongated 4G monetisation period and hyper price-sensitive market, the country can potentially stand to benefit from a delayed adoption through the availability of more mature business use cases, numerous prototypes and a collaborative environment to ensure profitable and sustainable 5G deployment on a large scale,” it said.

The report titled ‘TMT Industry CEO Outlook: Smart. Secure. Sustainable’ was launched at the ongoing India Mobile Congress 2020.

The report is based on a survey of 300 TMT (Technology, Media and Telecom) CEOs from India – a mix of executives from fortune 500 companies and startups, according to a release.

It captures views of CEOs on the challenges and opportunities brought about by digital acceleration as well as how the TMT industry is digitally empowering businesses to ensure the future survival and gain a competitive edge on a global scale.

“The upsurge in demand from both end-users and businesses during the pandemic has reinforced the surveyed TMT CEOs’ positive outlook on the growth of the sector. Companies are capitalising on India’s growing digital economy and witnessing an increase in revenues as well as private investments,” the report said.

It revealed that 61 per cent of CEOs reported an earnings outlook of more than 10 per cent over the next three years.

“However, to sustain this momentum and steer it further forward, the government and TMT organisations need to find newer and deeper ways to collaborate,” it said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Covid-led operational curbs in India impacted business: Walmart
2Dull Demand: Drop in commercial papers issuances points to slowing credit growth at banks
3Solar auction winners fret over ‘red tape’ in UP as input prices surge