The global business leaders believe that the current business needs outpace the existing access networks, according to a new report by Forbes Insights and Huawei. The current business needs require a radical increase in the speed, capacity and connectivity of mobile devices. The leaders look forward to 5G technology to fulfill their current needs.
The report titled "The Mobile Industrial Revolution: Anticipating the Impact and Opportunities of 5G Networks on Business," has surveyed 1000+ executives, comprising of more than 55% executives coming from companies with more than $10 billion revenue.
The data suggest that 38% of executives in Asia/Pacific, 36% in Europe, 34% in N. America said that their needs have out grown their networks, followed closely by Europe (36%) and North America (34%).
Commenting about the network trends, Bruce Rogers, Chief Insights Officer at Forbes Media said, “Organizations with an eye on the future are already anticipating the impact of 5G technology. They are working on long-term plans to innovate and realize value from this.”
According to Mr. Qiuheng, President of Wireless Network Marketing Operation of Huawei, 5G will help to realize a completely new world for consumers, for vertical industries and for operators.
“This will be a fully connected world converging the physical world and the cyber world, and this world will provide infinite new business opportunities for vertical industries and for operators,” he said.
Among the people surveyed in Asia/Pacific, 36% of executives conveyed their ignorance about the upcoming technologies. 38% say that they understand the fundamentals. However, 27% said they are well-versed with the technology.
In Europe, 24% said that they are ignorant compared to 42% in Asia/Pacific and 40% in North America.
26% of the executives are preparing for the 5G disruption. However, 15% are least prepared.