The coronavirus pandemic has had a devastating impact on the global economy as a whole. But while it may seem bleak now, we still have a chance to beat and recover from the pandemic-induced economic fallout. Its impact on different industries has been varied. For example, while the demand for tourism and hospitality has crashed, the demand for internet and mobile services has been on the rise all throughout 2020. Roam the world and stay connected with Spectrum mobile plans.
Business survival and growth are closely tied in with a firm’s ability to adapt and transform based on changing business landscapes. Identifying opportunities early on can prove to be the difference between positioning your business to take advantage or allowing it to sink under rapidly changing tides.
This blog will examine the impact COVID-19 has had on service providers and networks offering or rolling out 5G connectivity. Let’s take a closer look below.
A very brief history of 5G before the pandemic
Many internet and communications service providers first began testing and rolling out 5G in selected areas back in 2019. Service providers in the United States and China, in particular, were involved in an intense race to be the first to introduce and implement 5G internet access on a commercial scale. Of course, with the pandemic hitting right after, in 2020, the rollout and readiness of 5G technology all over the world have seen some measure of disruption.
Certain countries have shelved development funds for creating a massive 5G infrastructure until the pandemic is over. This is understandable since the primary concern for most countries has been to focus on healthcare capabilities and enforcing safety rules. That’s not to mention how many economies have shrunk considerably, or even entered a recession phase. However, other countries have only been encouraged by the pandemic to redouble their efforts in rolling out 5G connectivity.
How COVID-19 has impacted 5G service providers
Of course, many service providers see this as the perfect opportunity to stimulate 5G penetration and acceptance on a larger scale than previously anticipated. Remember that most businesses now operate remotely, meaning people now have a greater need for more reliable, faster, and easily available internet services. While predicting the course of the pandemic stumps even the most experienced disease specialists, we feel communications services providers can expect:
- An almost negligible impact on revenue streams, since more people are using residential networks than business networks.
- The capital expenditure service providers are willing to make on a 5G rollout may need reevaluation.
- Most developing companies will likely put any 5G rollout plans on the backburner until the situation stabilizes.
How COVID-19 has impacted non-communication service industries
Of course, while CSPs are important stakeholders in the 5G industry, they are merely the ones offering 5G services. Customers, both businesses and consumers alike, will likely see the impact of COVID-19 on their 5G plans as well. As far as the situation seems to be shaping up, it is very likely that many industries will try to invest more in technologies relying on 5G for better output and performance. Almost all industries are dealing with a set of common problems.
Social distancing rules, quarantine and isolation, workplace safety, and growing remote workforces are all areas that businesses can work on with 5G-based technology. Here’s what to expect in the years ahead:
- Major industries will expedite their 5G technology investments.
- New opportunities will open up in remote workspaces for the use of 5G.
- A faster and more secure environment for virtual business operations.
- Increased agility thanks to 5G compatible and integrable systems.
- Improved productivity as a direct result of improved and faster connectivity.
The Bottom Line: Expected 5G trajectory in 2021 and beyond
The upcoming 5G boom in the next few years will likely transform a large number of industries and businesses. Healthcare, manufacturing, food, pharma, manufacturing, automotive, and even our leisure and entertainment industries seem poised to see the biggest changes. Bundle internet, cable tv, and home phone for the best deals with Spectrum packages.
This impending transformation may also trigger a major shift towards the use of IoT devices, automation, AR/VR, and even robotics since a widely available 5G infrastructure will likely improve their performance. Of course, we have no guarantee of how the future will shape up and if the virus will ever go away. But we feel the human race (and its industrial development) will weather this storm as well.