MWC SHANGHAI 2021: Nokia president and CEO Pekka Lundmark (pictured) insisted the support of mission critical applications will be a game changer for 5G in the industrial sector, boosting economic growth, and improving productivity and sustainability.
The Finnish vendor predicts spending on private 5G will outpace traditional public networks in the next decade, estimating every dollar invested in network and cloud infrastructure provides more than $4 of end-user value creation.
Industry has “a huge appetite for change and for improvement”, Lundmark said.
The company’s research shows Covid-19 (coronavirus) lockdown restrictions actually accelerated investment by the private sector, with 45 per cent of purchasing decision makers surveyed in eight markets saying they sped their digital transformation programmes.
Lundmark explained the “upshot is that we are looking at an economic gain of up to 7 per cent of global GDP, or $8 trillion by 2030”.
He said the future of connectivity will feature three characteristics: carrier grade performance; the flexibility and elasticity to constantly maintain peak performance; and the capability of running mission critical networks.
“It all comes back to those two key words: critical networks. As the 5G tech cycle progresses, we will see radical transformation across industries and public services.”Subscribe to our daily newsletter Back