The 5G network is estimated to generate about Rs 1.7 lakh crore revenue opportunity for telecom operators by 2026, according to the Ericsson 5G business potential report.
The report further stated that 5G technology will create opportunities in sectors like manufacturing and energy, reported news agency ANI.
"5G is expected to play a major role in digitalization of industries. 5G will bring new level of performance and characteristics to the telecom networks enabling new services and creating new ecosystems. New revenue streams will open for operators as they go beyond being Connectivity and Infrastructure providers to become service enablers and service creators," Nitin Bansal, managing director of Ericsson India, told ANI.
The report noted that agriculture will open up revenue opportunities for telecom operators to the tune of $400 million. 5G applications are expected to help farmers in areas like field-monitoring and mapping, livestock routing and other related services.
Moreover, Ericsson on Friday showcased the first live 5G end-to-end demonstration in India using its 5G test bed and 5G NR Radio, reported the news agency.
The company's new 5G platform comprises the 5G core, radio and transport portfolios, along with digital support systems, transformation services and security.
"The 5G technology showcase has been organised in the direction of creating a robust 5G ecosystem in the country even as the Government plans to have 5G network roll outs by 2020. 5G research and development is natural for Ericsson thanks to our innovation, R&D focus, technology leadership and thought leadership," ANI quoted Nunzio Mirtillo, head of the South East Asia market of Ericsson, as saying.
The country's largest telecom companies by market share, Bharti Airtel, had in September tied up with South Korean firm SK Telecom in a bid to build 5G advanced communication network in India.
Both firms will also work to enable an ecosystem for introducing these technologies in India, Bharti Airtel had said in a statement back then.