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5G monetization’s role in telecom evolution
5G monetization’s role in telecom evolution
The opinions expressed within this article are solely the author’s and do not reflect the views of TM Forum.
5G is paving the way towards a low latency, high-range era of communications. As a result, communications service providers (CSPs) can team up to create communication designs to accelerate the delivery of customized services that connect users globally. Today, AI is a must-have for digital services especially if they are to drive 5G monetization and open up fresh streams of innovation and revenue channels. At the same time, participating in value chain creation with other collaborators will create many alliances to mobilize customer support and network creation.
This has opened opportunities for CSPs to monetize their network architecture through new integrated customer experiences, especially as companies are now deploying software such as edge and cloud computing to make the most of data. In 2021, the estimated global metaverse market size stood at $39 billion, and in 2022, this was at $47 billion, with forecasts it will surge to $679 billion by 2030. Providers are now positioning themselves to enable the industrial metaverse.
Orchestrating 5G elements for monetization
Today 5G revolution is already creating new connections. From establishing an exceptional user experience to possessing a lower processing time, devices are carving a unique space for themselves devising a prodigious presence. 5G has facilitated the use of AR over the last year to accelerate its growth. This has generated real-time information around the clock for CSPs, producing rich resources. This combination is allowing companies to make their smart processes smarter, creating a digital ecosystem by delivering specialized industrial solutions, especially as the industry looks towards 6G. New technology developments are estimated to transform numerous industries offering many developments, including enhanced mobile broadband and massive machine-type communication. A hyper-connected society and value addition promise to increase the overall ROI for communications service providers.
Overcoming predicaments with better technology
6G - beyond connectivity
As 6G approaches, the telecom industry is expected to move towards transformational automation, implementing 6G services at speeds which will propel higher consumer demand. 6G is expected to allow the incorporation of AI to create a whole new type of processing. Over half the population wants their data providers to furnish them with more than just speed, demanding tailored packages targeting specific wants.
XR - Experiences made real
Extended Reality (XR) through 5G monetization provides a tool for businesses to encourage their employees to work as a team collaborating in various capacities. The ability to bring this experience helps them deliver a crisper service to their consumers. The growing uptake of 5G proffers a stronger foundation from which to revolutionize services at a larger scale. XR is illustrating its usefulness to providers to further amplify their business process to adapt to the dynamic ecosystem by canopying various tools related to AR and VR.
5G monetization: Unlocking the new revenue streams
5G technology can provide users with a seamless immersive experience with the help of low-latency tools like 5G. Despite this, there are some gaps inherently present. It becomes critical to notice the dependency on technologies such as storage houses and edge computing. While these technologies provide a variety of outcomes, the core transformation of human operation remains. Using this interface with horizontal and vertical partners of a company, suppliers and customers will be at the center stage of 5G in 2023 by providing service beyond connectivity. Private networks offer a wider range of service advantages by allowing connection to be made with devices in a defined space thus providing an ultimate experience for consumers. This model establishes a marketplace for suppliers to offer enhanced customer experiences using the digital portal platform.