Ericsson 5G platform predicts $582 billion global market in next 10 years

Ericsson

Ericsson has officially launched 5G platform with a predicted growth of the global mobile market pegged at $582 billion. According to the company sources, the massive growth of $572 billion can be achieved in the next 10 years. It is expected that the existing telecom operators could take advantage of 5G technology for the overall digitalization of the industry.

In a statement released to the press, Ericsson disclosed that the predicted explosion in 5G signals the need to add 34% growth in overall revenues in 2026. Moreover, manufacturing, energy, and utility sectors will gain rapidly because of the huge revenue possibilities created or enhanced by 5G.

Ericsson has unveiled the 5G platform to meet the growing requirements of 5G first adopters. The global communications industry are moving at a fast pace with the rapid explosion of data-intensive applications such as Virtual Reality and Augmented Reality. The videos will be pushed in a powerful and high-speed. Hence, you will be able to visualize rich and compelling experience when you view the videos using a 5G network.

Commenting on the development, Arun Bansal, head of Business Unit Network Products at Ericsson revealed that the 5G platform would mark a new era in the mobile connectivity and will be a new beginning of a huge change in network capabilities. It enables customers to provide improved use cases and new business models to their customers. The launch of 5G is an important milestone enabling operators to continue their evolution journey to 5G, said Bansal.

Responding to media queries, Roger Gurnani, chief technology officer, Verizon added that the initial customer trials with 5G in 11 cities across the US are an important step in accelerating the path to the next generation of wireless services. The company is committed to driving huge advancements in the 5G technology commercially, said Gurnani.

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According to Ericsson, the company has launched its first 5G Core System capable of 5G use cases, which is ultimately based on network slices. It enables an operator to provide dedicated virtual networks with functionality specific to the service or customer over a common mobile network.

Meanwhile, Ericsson said that they are introducing new additions in many areas of its 5G core system and applications. The company has introduced federated network slices for 5G roaming, network slice management, 5G policy and user data for network slices including distributed cloud to facilitate short latency applications. You will be able to activate real-time face recognition with 5G.

Ericsson also announced the launch of 5G transformation services, which will help in the migration of the network and operation from legacy to 5G core through an automated operational model.

Anand Narayanaswamy is the editor-in-chief of Netans. He was recognized as a Microsoft Most Valuable Professional (MVP) for 9 years (2002 to 2011) and currently part of MVP Reconnect program. He is also part of the prestigious ASPInsider program. Anand has published several articles and reviews related to various software and hardware products for various software and technology related websites. He is also active on social media and also participates as an Influencer for various brands. Anand can be reached at admin@netans.com