According to an industry report, Singapore was placed to be the best among all South East Asian countries that could turn to account on the new revenue options generated by fifth generation(5G) mobile technology.
The estimate made by the report released by Cisco, a multinational technology company, and A.T Kearney, a consulting firm, could shoot the revenue lines up to US$510m ($704 million) by the year 2025.
The break down of the estimation was given as the following:
- Comsumer 5G mobile subscription: US$240
- B2B or enterprise users: US$220
- B2C enhanced services: US$50
These three factors mean Singapore telcos are more likely to capture maximum value from 5G compared to their regional peers, said A.T. Kearney partner Nikolai Dobberstein, one of the report’s two lead authors. He also noted that Telcos in Singapore are more advanced with a big leap and effort of digitalisation of enterprises in the country.
As reported by The Straits Times, the report came up with the projections using market research on future technological developments and data on existing trends. The introduction of 5G could likely total up to $6 billion in revenue for telcos across SEA by 2025 if they successfully counter the current challenges.
Singapore is expected to roll out two 5G networks by next year (2020). 5G provides a huge opportunity for telecom operators to increase their presence in the enterprise market and sustain their long-term growth.