
According to the International Data Corporation (IDC), it will take the telecom industry three to five years to wholly establish 5G enterprise services, and that same amount of time will be needed for top companies to carry out proof of concept and trial projects before deciding to base their business operations entirely on 5G services.
The initial trend indicates that because of the wide range of advantages it would provide to industries, private networking has attracted the most attention across all areas.
IDC forecasts that revenue from 5G services in Asia/Pacific (excluding Japan) will increase at an annual compounded growth rate of +137%, from $106 million in 2021 to $8 billion in 2026.
Fixed Wireless Access (FWA) service revenues for businesses, MEC (Multi-access Edge Computing) edge cloud service revenues, and network slicing service revenues, according to IDC, were all taken into consideration while determining the estimated value.
Network slicing will be used primarily in manufacturing facilities, distribution centres, and Smart Airports, but will also ultimately be used in outdoor locations including Smart Ports, Smart Stadiums, Smart Campuses, and transportation hubs.
While waiting for fibre internet, 5G FWA is anticipated to serve as a temporary fix in certain markets, including the Philippines.
IDC listed markets that have or are anticipated to have 5G FWA as Australia, India, Hong Kong, New Zealand, Philippines, Malaysia, Thailand, and Vietnam. According to IDC’s study, network slicing revenues will expand at a compound annual rate of 268.8%, driven by MEC services (CAGR 125%), enterprise FWA (CAGR 73.5%), and private wireless managed services (CAGR 64.6%).