KIANEWS Europe has lagged behind the US and Asia in deploying 5G-compatible technologies
13. 10. 2020 Tuesday / By: Robert Denes / Industrial / Exact time: BST / Print this page
In the U.S., 45 percent of companies plan to invest in 5G technology within the next year. In Finland, the corresponding figure is 29 percent. However, 11 per cent of Finnish companies say they have already invested in the transition to 5G.
According to a new report from Nokia, despite the economic challenges of COVID-19, the global boom in 5G investment will make huge investments over the next 5 years.
"As organizations around the world move faster towards the deployment of 5G-enabled technologies, those who want to be the first to take advantage of its potential cannot afford to waste more time. To realize the enormous potential of 5G, organizations need to start or step up they need to plan and accelerate business model innovation to stay competitive in a rapidly digitizing global economy, ”said Gabriela Styf Sjöman, Nokia’s chief strategic officer, in a press release Monday.
The study compared the introduction of 5G in eight countries - Finland, Germany, the United Kingdom, the United States, Japan, South Korea, Australia, and Saudi Arabia. Nokia found that Europe was lagging behind the US and Asia in deploying 5G-compatible technologies.
In the U.S., 45 percent of companies plan to invest in 5G technology within the next year. In Finland, the corresponding figure is 29 percent. However, 11 per cent of Finnish companies say they have already invested in the transition to 5G. A quarter of Finnish companies fear losing their competitive advantage if they do not invest in 5G over the next three years. Only 13 percent said they see no link between the company’s success and the use of 5G technologies. Despite strong growth in international corporate investment in 5G, a study by Nokia found that many companies are exploiting only a small part of their potential.“There are a lot of organizations that don’t understand 5G,” says Nokia Sjöman.
The Finnish-based telecommunications and IT company has made a big bet on 5G, but has struggled...read more
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