Juniper Research’s research estimates that carriers will generate $400 billion in service revenue from 5G networks in 2024, representing 32% annual growth from 2023, but this analysis It also warns that 5G penetration will reach saturation before these riches can be accumulated. It is imperative that carriers launch services on their 5G networks that provide value to enterprise Internet of Things (IoT) users.
Furthermore, in order to achieve growth, Global 5G future strategic market 2024-2028 The report identified two key emerging 5G technologies that will impact carriers’ ability to attract high-spending IoT users: 5G-Advanced and 5G RedCap (Reduced Capacity).
5G-Advanced provides continuous enhancements to mobile network capabilities and use case-based support to support the commercialization of 5G by mobile operators, the long-term development of artificial intelligence (AI) and machine learning (ML), and network Designed to help you save energy. A fully automated network and a sustainable future.
It will support applications such as augmented reality (XR) and promises financial opportunities for both the consumer market, with use cases such as gaming and video streaming, and businesses, such as remote work and virtual training. Compared to previous mobile generations, 5G Advanced is building an ecosystem for vertical markets, and continuous developments in this area will continue to improve traffic throughput, network coverage, power savings, and anomaly detection. .
RedCap is designed to leverage the evolution of 5G networks to standalone (SA) network architectures to bring the benefits of 5G to New Radio (NR) consumer, business, and industrial devices. RedCap promises to provide reliability for devices with low bandwidth requirements and many of the benefits of 5G without the cost and complexity of typical 5G services.
Industry experts believe that 5G RedCap is the most suitable candidate technology for the needs of medium-speed use cases. The RedCap standard was developed to enable the manufacturing of smaller, more cost-effective 5G devices, with reduced complexity and longer battery life.
Juniper believed that with 5G-Advanced and 5G RedCap, carriers can offer services such as expanded coverage, improved network efficiency, and device battery life to enterprise users.
The report predicts that the benefits of 5G-Advanced and RedCap will help grow IoT sectors such as automotive and mobile broadband. Furthermore, by 2028, he predicts there will be more than 360 million 5G IoT devices using public networks. The number of devices will increase significantly from 35 million units in 2024. Fixed wireless access (FWA) was identified as the area that would benefit most from these services, given the large amount of traffic generated.
Study co-author Sam Barker said: “FWA has always been positioned as a key service for 5G network monetization, but with the advent of 5G-Advanced and 5G RedCap, carriers are increasingly looking to increase fixed network services. “We will be able to offer the same network conditions as our providers.” “Operators need to leverage their existing billing relationships with consumers to drive FWA solutions.”
