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5G launches are a trigger for companies to consider how 5G will impact their businesses and their services, particularly within Smart Cities
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Existing 3G/4G networks may not be sufficient to handle the advanced technologies needed within smart cities but 5G can overcome these hurdles. 5G can act as an enabler of Smart Nations as the technology can provide the necessary technological backbone that can advance and increase efficiency of select smart city projects. Smart City ecosystem applications can support the business case for 5G and drive growth of 5G networks. As it is, Asia-Pacific is on track to become the world’s largest 5G region by 2025 and a Smart City application focus is common within 5G implementations across the region. Mobile network operators should look within Smart Cities for initial volume to get 5G at the right price points for the mass market. Gaps within Smart Cities can be addressed with 5G to provide opportunities for businesses with new services and business models. 5G requires specific skillset capabilities and the role of system integrators to bring together end to end solutions. As with smart cities, the formation of industry partnerships is critical for the development of 5G. As a result, 5G riding on the growing number of Smart Cities represents an opportunity for not just mobile network operators but also third party infrastructure providers as well as ecosystem partners. Ultimately, how 5G impacts smart cities will depend on how well industry manages to leverage on industry partnerships. From buildings managed by smartphones to self-sustainable elders, the future is what industry makes of it. Bringing it all together through industry collaboration is now more feasible than ever. The study also takes a deep dive into Fintech services within smart cities. Frost and Sullivan expects that there will be strong growth in B2C payments, especially across retail and transport. Security will be an area of key concern that will play a key role in shaping the payments landscape of the future. Companies mentioned in this study include, but are not limited to, AIS, AT&T, ATR, AU, Accenture, Amazon, Celcom, Digi, ETRI, Ericsson, Grab, Honda, Hyundai, IBM, Ingenico, Intel, KDDI, KIA, KT, LG U+, M1, Mastercard, Maxis, Microsoft, NICT, NTT Communicatiosn, NTT DoCoMo, Nokia, Oracle, PayByPhone, Qualcomm, Rakuten, Reliance Jio, SK Broadband, SK Telecom, ST Engineering, Samsung, Schneider Electric, Servo, Siemens, Softbank, T-Mobile, Telstra, TransferWise, U Mobile, Verizon, Visa, WeChat, Wireless City Planning, YoYo Wallet, ZTE. Countries covered include: Australia, China, India, Malaysia, Indonesia, Thailand, Singapore, Vietnam, South Korea, Japan, New Zealand, and the Philippines.
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