High hopes for 5G’s business impact but security and cost concerns persist

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Over half (57%) of business and technology decision-makers surveyed by Accenture said they believe 5G will be “revolutionary”, while 79% expect the technology will have a significant impact on their business.

Despite the optimism, 72% said they need help to imagine the future possibilities for connected solutions with 5G.

“With the right business strategy and ecosystem collaboration, the signs point towards a world of compelling 5G use cases and business outputs,” said George Nazi, senior managing director and Communications and Media industry lead at Accenture.

“Communications service providers should act now to ensure they are at the heart of the 5G ecosystem to unlock the potential growth.”

Security and cost

Over a third (35%) of respondents to the survey of more than 2,600 executives across 12 industry sectors in Europe, North America and Asia-Pacific expressed concerns around the security of 5G, up from 32% in last year’s survey.  Further, 62% fear that 5G will render them more vulnerable to cyberattacks.

“The link between 5G and its perceived security risks is complex,” said Nazi. “According to our study, executives believe that 5G can help secure their businesses, but that 5G network architecture also presents inherent challenges in terms of user privacy, number of connected devices and networks, and service access and supply chain integrity.”
 


Three-quarters of respondents said they expect to redefine policies and procedures related to security as 5G emerges.
 
The survey also revealed that many businesses are concerned about 5G costs, with 80% believing that the cost of managing their IT infrastructure and applications will increase. Almost a third still believe the upfront cost of implementing 5G will be too great.