The COVID-19 pandemic that has affected us since last spring is already wreaking havoc on the economies of many countries, including ours. Companies in critical sectors are at the limit by not being able to bill, something that does not happen with other sectors, such as that related to 5G networks , whose companies continue to grow strongly.
Something logical if we take into account that now we are in full explosion of 5G networks , expanding coverage in many countries at a forced marches. Not long ago we knew that the deployment of 5G was being even faster than that of 4G, something that is logically positively affecting the entire productive fabric that surrounds this sector.
5G will contribute up to $ 8 trillion to global GDP
The strength of a certain sector can be measured basically on the basis of its participation in the national or global GDP, and in this aspect of course 5G is going to have a major role during this decade that we have started off on such a bad foot. Today we echo the conclusions of the 5G Business Readiness Report , which concludes that companies related to 5G networks and this sector in general will contribute up to 8 trillion dollars to global gross domestic product until 2030.
Furthermore, this report shows that the sector is not suffering the ravages of the crisis at all, and is the only one that has allowed productivity growth of more than 10% since the COVID-19 crisis began. This report that has been carried out by Nokia and Nokia Bell Labs reflects the good moment of this sector and the great future that lies ahead even in these times of economic crisis.
Rapid growth of 5G companies
Those considered as mature companies in 5G are also growing notably, much more than similar companies in other sectors. The companies that are considered to be in the expansion phase account for 49% , while those that are in the implementation phase reach 37% and are those that represent the most advanced stages of maturity in terms of 5G. At the other extreme we have the 5G companies in the planning phase, which only account for 20% of the total. More advance means more impact on your performance. According to this same study, up to 72% of companies will invest in 5G during the next five years. The digitization of these will drive a large investment in this type of network.
And it is that 5G connectivity is perceived by companies as a key element to grow in the future. In fact, most fear that they could be overtaken by their competitors if they don’t do their homework when it comes to 5G . The level of digitization in 5G depends a lot on the region in which the company is located. Thus, it is more likely that they have some maturity in this type of network in countries such as the United States or Saudi Arabia, while in countries such as Germany, Finland or the United Kingdom, this rating of mature companies with 5G does not represent more than one in twenty . 86% of those responsible for technology purchasing decisions stated that they have some kind of strategy for 5G.
Factors slowing down 5G adoption
The study points to different factors as key so that this expansion of 5G is not even faster than it is being. In this regard, up to 28% of decision makers related to 5G in companies have alluded to the limited availability of essential infrastructure of this type beyond urban centers.
Also the understanding and adoption of this technology is one of the great threats, since up to 14 of those responsible for making these decisions do not understand this technology well. The priority is another problem, and that is that up to 22% of those responsible for purchasing technology of this type do not consider 5G as a priority for their company. The economic factor is key , in fact 15% of these managers do not believe that their companies can implement these technologies because of their cost. Finally, 34% of these managers have some concern about the security that 5G may provide in the future.