5G has the potential to generate over US$3 billion in Vietnam says president of Ericsson for the region Denis Brunetti.
Speaking at a press conference on the acceleration of 5G technology and the digitisation of industry held in Hanoi last week, Brunetti said that 5G will be in place in Vietnam in one or two years with the manufacturing, energy and utilities sectors holding the largest potential for 5G.
“We are confident that the pioneers of the 5G path will have a competitive advantage in the global marketplace as their multidisciplinary digital transition is accelerating,” he said. “5G's most profitable industries are those that can take advantage of high-speed, low latency, and extreme 5G reliability to increase efficiency, improve quality and safety, or create innovative products or services.
“2018 is also the year 5G will launch the market and launch large-scale mobile IoT introduced. These technologies promise new possibilities that have a major impact on human life, and transform industry.
“This change will only take place when authorities and industry leaders strive to reach agreement on the appropriate spectrum, standards and technologies,” he added.
Brunetti also spoke about the fourth industrial revolution, claiming that it will bring about much change for the region’s manufacturing industry.
He said: “The concept of 'Industrial Revolution 4.0' will change the way Vietnam manufactures and designs products. Based on the power of large data, high computing power, artificial intelligence and analysis, Industry 4.0 brings the mission of digitizing the entire manufacturing industry.”
He did however stress that the country needed to speed up operations in order to take full advantage.
5G has been promised as the generation that will bring IoT devices and other data-heavy technologies to the forefront of many industries.
The technology offers massive improvements to wearables, smart homes and machine to machine (M2M), placing itself as a remedy for industrial connectivity woes, rather than solely to the consumer.
This comes after Chinese phone-maker and infrastructure business Huawei outlined its plans for 5G in Vietnam earlier this year.
Speaking at the 4G/5G International Conference 2018 in Hanoi in April, Dr. Mohamed Madkour, vice president of Huawei Global Wireless Network Marketing, said: “Huawei is committed to working together with government and telecom operators in this market to drive digital transformation and move towards a 5G future.
“We aim to create an open, collaborative, win-win industry ecosystem to have in-depth conversations, discuss the latest trends and share opinions together.”
Madkour went on to discuss the time it will take to bring about established 5G networks, saying that operators in Vietnam should start investing in building capabilities now, ready for future 5G services.
Madkour also highlighted how the next generation of wireless internet will enrich not only businesses and economic growth, but improve the lives of Vietnam’s population.