5G Networks Expected to Change Lifestyle, Create New Business Models

The much anticipated new generation high-speed communication networks will bring improvements to daily life – both work and pleasure – and make industries more efficient. They will open up possibilities for the creation of new business models, market roles and relations, as well as financial solutions. India needs to be ready to take advantage of 5G sooner rather than later.

“Digital India” Was Simply the Beginning – 5G Will Mean a Jump in the Future

India has a young and tech-aware population, with over 750 million of internet users. Many have been eager to enter a new era of fast mobile communications. In turn, media reports and industry experts have become more specific about the ways 5G technology can improve our lives and the nation’s economy.

Quite often, the first aspect that comes to mind is the internet speed which will become lightning-fast. But this will also change how we work and consume, communicate and entertain ourselves. When the “Digital India” initiative was launched by the Government back in 2015, many of the potential benefits of 5G were not even invented. Yet, the fundamentals of technological growth were laid in these few years.

The first to make us appreciate 5G will be lifestyle gadgets, gambling platforms like Purewin.com , gaming apps like Indian lottery online or cricket fantasy league online. Media, infotainment and smart home devices make up the top-level consumer market and have great visibility.

But when mass transition from LTE to 5G actually begins (towards the end of 2021) more working citizens will be able to see advances in industry efficiency and enterprise management. And, ultimately, the Union will probably benefit the most from improvements in public services (tele-education, remote healthcare, agricultural efficiency and monitoring) and security (banking, public records, etc.)

Online Media and Entertainment in the Spotlight

ENV Media’s research piece into the territorial relevance of gambling across India reveals an interesting trend. Despite the fact that urban and rural gamers are almost equal in total numbers, search volumes and actual gaming sessions are concentrated in mostly 6-8 major cities across Bharat. Two-thirds of online casino players come from Mumbai, Delhi, Kolkata, Chennai, Bangalore and Hyderabad. This confirms the importance of technological advancement, business climate and media exposure of consumers.

While the nation is getting increasingly urbanized (over 1/3 already, with 54 cities above 1 million inhabitants), urban and rural users will both enjoy enormous advantages with the introduction of 5G networks. Metropolitan areas are ahead in infrastructure and will use high-speed services namely for media and entertainment first, with smart home devices close behind. Rural and remote regions will benefit from faster telecom networks by closing the gap in public services and enjoying improved connectivity.

A Variety of Applications and New Business Models Expected

Lag-free gaming and spectacular entertainment will get all the buzz at first. But 5G connectivity is not only quick downloads and streaming: Low latency (response-time) will bring computing closer to our devices in what is called mobile edge computing. Consumers will experience a closer and more realistic contact with their touch-devices and cloud services.

Augmented and Virtual Reality (AR/VR) will enrich general entertainment like sports, shows and movies. Gamification will be used more frequently for teaching and professional training, as well as direct consumer engagement.

New business models will allow service providers to access their customers more efficiently, including through the segmentation of network resources (by quality and experience). Delivering services to other companies will be more challenging to telecoms but will open new possibilities for media and advertising delivery.

Manufacturing and logistics chains will be able to match supply to demand in real time; online retail is expected to get a boost across all product categories; and the energy sector will improve its efficiency through optimised distribution and monitoring.

To accelerate adoption, both the Centre and some States might have to provide some subsidies in certain areas. And businesses might have to accept cloud service collaborations in some cases. But real-time reporting (e.g. for taxation purposes, public security, medical records) and business process monitoring (e.g. for revenue sharing) will probably be worth it for everyone involved.

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