If you haven’t heard the term 5G in the last year you’ve clearly been living under a technological rock. It’s no secret that enterprises today are betting big on 5G. 86% of Deloitte-surveyed, US networking executives expect advanced wireless solutions, including WiFi 6, to substantially transform their business within three years (Deloitte, 2020). Make no mistake – 5G is being ushered in by network operators as a platform for innovation, not simply a next-generation improvement to network infrastructure. 5G is a hundred times faster than the current 4G technology, capable of supporting one hundred times more devices / km2 with a 50X improvement in total latency (Kavanagh, 2020). While the extra speed and capacity that 5G provides is important, the improvements in network latency will usher in an entirely new spectrum of use cases that require instantaneous processing of large, multi-device data sets and faster, Artificial Intelligence decision-making at the edge. Imagine rich, immersive, location-based Augmented Reality (AR) experiences that enable consumers and brands to interact with each other and share unique moments in real-time.
The global opportunities that 5G will create over the next several years are nothing short of immense. Over 60 nations have launched 5G networks commercially and within the next five years 40% of the world’s mobile subscriptions will be 5G. But unlike with 4G, 5G will bring with it a savvier, multi-device connected, time-short consumer who expects more out of their digital service providers. According to a recent study by Ericsson, almost half of smartphone users who are willing to pay a significant premium for a 5G plan expect new applications and services as a part of that plan. And with their new, shiny 5G subscription users are expected to consume, on average, 2-3X more data than their 4G counterparts. It’s no surprise that our insatiable demand for video and augmented experiences is expected to account for 77% of high-speed, 5G traffic by 2026 (Ericsson, 2020). But amongst all the hype, its critical we remind ourselves that for every goldminer who strikes it rich, there are 20 others who went home empty-handed. Emerging technology like 5G tends to have a multi-year “teenager” period that spawns a whole mess of products that are nothing short of a “solution in search of a problem” – thinly-veiled, novelty solutions that are more proofs-of-concept than meaningful, life-changing technologies. There’s a reason we have early adopters – to weed out the losing ideas and elevate the enduring, sea-change product offerings that will create lasting, meaningful value on a broad scale.
At the same time, new technologies can be wake-up calls for established industries like telecommunications, media, and personal insurance. Subscribers no longer tolerate (or even pay attention to), mediocre apps and digital experiences that don’t have a reputation of being exceptional – 4 stars and up from here on out. Operators need not only value justification for charging 5G premiums, but also a targeted strategy that invests in solutions that help consumers benefit from the next generation of smart devices in the home. As more smart devices come online, more personal content is uploaded in 4K/8K Ultra-HD, and new 5G use cases emerge, Synchronoss will be at the forefront of testing & launching unique, localized, 5G-enabled experiences with our Personal Cloud customers. Our mission will be focused on helping our customers, their customers, and their strategic partners deliver new forms of value with 5G offerings. Make no mistake – helping the consumer capture their most important moments, unlock their creativity on-the-go, enrich personal connections between the “framily”, and protect their data from careless breeches and relentless profiteering will be a mission-critical focus for operators to expand their share of wallet in a 5G world.
To learn more about how Synchronoss’s Personal Cloud can accelerate your consumer 5G strategy and deliver unique value, speak with one our commercial sales representatives today.