A report from ABI Research predicted revenues from 5G private networks and network slicing deployments, will surge private enterprise revenues from US$732 million and US$151 million in 2022, to over US$13 billion and US$12 billion respectively by 2028 in the Asia-Pacific.
ABI Research 5G markets industry analyst Matthias Foo said: “5G-to-Business applications have been shown to improve productivity and reduce costs for enterprises across different verticals.
“Beyond that, 5G enterprise deployments were also shown to reduce power consumption by improving equipment efficiency through data analytics and workplace safety with machine vision and AI.”
Within private 5G networks, manufacturing is projected to be the highest revenue potential for the business applications of 5G. Key use cases for manufacturing included enabling robotic control for remote-controlled operations, autonomous vehicle operations, extended reality technology for training and support applications, and collecting a large amount of sensor data for developing digital twins.
LG and Fujitsu are examples of private 5G network use in manufacturing, stated ABI.
In 5G network slicing, logistics is expected to be the highest revenue contributor. Use cases in this domain included vision-based inspections for autonomous and remote-controlled operations, asset tracking, and smart transport applications. Firms currently using network slicing are China’s Ningbo-Zhoushan Smart Port and Australia’s drone delivery operator Swoop Aero.
ABI noted several countries in the Asia-Pacific are tapping into 5G to optimise their businesses. Other countries will also follow suit such as India which recently released 5G spectrum and CSPs are deploying standalone 5G networks.