Research from Accenture says 5G will have a significant impact on businesses, but security concerns are still a barrier for its scaling.
The latest survey from Accenture has revealed that nearly 80% of companies believe 5G will have a significant impact on their business, while 57% said 5G would be revolutionary. The report titled “Accelerating the 5G Future of Business’ highlights the growing excitement and apprehension around 5G connectivity with enterprises.
Accenture surveyed more than 2,600 business and technology decision-makers in 12 industries. Over one-third, (35%) of respondents had security concerns about 5G, up from 32% a year ago. Moreover, 62% of respondents said 5G would make them more vulnerable to cyber-attacks, said the report.
Some of the key findings of the Accenture Survey are:
- 80% of respondents believed the cost of managing their IT infrastructure and applications would rise.
- 85% of them will support mobile employees via 5G.
- 31% of the decision-makers feel the upfront costs of implementing 5G will be significant.
- 72% of respondents would need assistance in thinking through connected 5G use cases.
- 74% of them would retool policies and procedures for 5G security.
For organizations, 79% of IT business heads said 5G would assist them in being more connected in what they do. Nearly 80% of respondents said the advancement in 5G would create new business opportunities. Around 77% of respondents also believe that 5G will increase productivity, while 76% of them mentioned it has the potential to enhance operations.
The study reveals that over 54% of businesses are either testing or have partially deployed 5G; however, 34% have yet to use it in any way. This is expected to change in the coming years. Offering insights about the top barriers in adopting 5G, the study said in the next three years, security concerns and upfront investment were heading the list. Nearly 70% of respondents believe 5G will make their businesses more secure; however, security challenges are also inherent to the network infrastructure.
Enterprises are seeking external help to gear up for security and cost challenges associated with 5G, found the report. Around 45% of the respondents mentioned they would most likely work with software and services companies, while 43% said they would team up with cloud companies, and 31% of them will work with equipment providers.
Organizations that enter into early partnerships with cloud companies and equipment providers are more likely to be successful to implement 5G.