The advent of the 5G era has opened up numerous possibilities, with different currencies embedded in its capabilities – speed, latency, the number of connected devices, capacity, and reliability. However, despite the promises, the quest for applications that truly harness the potential of 5G is just beginning. This presents an exciting opportunity for scaleups to enter the scene, assisting corporates in differentiating their assets and taking advantage of the untapped potential of 5G.
As we anticipate the upcoming MWC24 event in Barcelona, we’re delving into key industry themes with insights from our network of experts. This week, we had the privilege of sitting down with Daniel Gurrola, Chief strategy Officers Group and Global Head Strategic Engagement at the GSMA, SVP Strategy and Wholesale at Verizon Consumer Group, VP Strategy and Business Development of Orange Group and now a Partner with Match-Maker Ventures, to explore the untapped potential of 5G and how scaleups can strategically position themselves in the ever-evolving landscape.
Read on to discover how scaleups can best collaborate with corporates to harness 5G’s capabilities.
Current telecom landscape
As of now, most applications are in the B2B space, particularly in areas like robotics and smart manufacturing that demand high capacity, speed, and low latency for precision processes. However, in the consumer space, we see glimpses of 5G’s power with applications such as gaming and guided navigation, but the true potential is yet to be fully realized.
Connectivity, the most commonly used asset, often fails to capitalize on the speed provided by 5G. Operators have not yet found ways to innovate and leverage its capabilities but those that will do are set to revolutionize the telecommunications industry, redefining the landscape of connectivity and communication and showing what is possible. As highlighted by Daniel, “The winners of tomorrow will be those who innovate and leverage 5G’s capabilities effectively.“
The development disconnect – bridging the gap
Despite the speed and low latency offered by 5G, developers have not taken full advantage of these capabilities. The lack of priority, financial justification, or simply overlooking the potential may be the reasons. This seems controversial as, with a richer customer experience, developers can increase customer loyalty and stickiness, leading to potential revenue growth.
While 5G-enabled applications are scarce, the opportunity for developers is vast, especially in the B2B environment to begin with because as applications get more tractions and more developers can appreciate the potential, they will find consumer applications. Smart manufacturing, private networks, smart offices, and backup services are areas where 5G’s speed and capacity can be utilized effectively.
Comparing the transition from 3G to 4G, where apps were ahead of their time, the scenario is different with 5G. Developers are yet to catch up, creating a noticeable gap between the technology’s capabilities and the applications developed. The challenge remains in bridging this gap, and scaleups have a unique opportunity to lead the charge in unlocking the full potential of 5G.
How scaleups can best position themselves in the ever evolving 5G landscape
In navigating the intricate landscape of corporate-scaleup communications in telecom, scaleups can optimize their approach by gaining a deep understanding of the assets employed by operators.
This involves comprehending the various currencies within the 5G environment that operators capitalize on, from speed and latency to the number of connected devices and overall capacity.
Scaleups must showcase a profound awareness of these key elements and articulate how their solutions effectively leverage these assets. By aligning their offerings with the specific currencies within the 5G spectrum, scaleups can demonstrate the value proposition they bring to the table.
This strategic approach not only establishes a deeper connection with telcos but also positions scaleups as integral partners in the telecom ecosystem.
To sum up, as the 5G revolution unfolds, the bridge between untapped 5G potential and transformative innovation lies in the strategic collaboration between scaleups and corporates. By understanding and leveraging the key elements within the 5G landscape, scaleups can empower telcos to differentiate themselves and foster innovation.
The journey to fully harness the power of 5G has just begun, and it is through the collaborative efforts of scaleups and corporates that these possibilities will be realized.