Indian telecom industry to grow by $12.5 bn every 3 years: Deloitte-CII study :-MINT . Updated: 15 Dec 2022, 03:33 PM IST Gulveen Aulakh

 

With the right mindset and technological prowess, the Indian telecommunication industry can use 5G to accelerate economic growth and resilience in the country. (File Photo: Reuters)

• Combined with ultra-low latency and high data rates, 5G is expected to create avenues of collaboration and alliances as well as drive India to reimagine a whole new way of engaging in the new, faster, agile digital world

NEW DELHI: The Indian telecom industry will likely grow by $12.5 billion every three years, according to a Deloitte-CII study, and the market for AR/VR technologies is likely to reach $1.6 billion by 2025.

The study released on Thursday said that with the advent of 5G, about 90% of consumers will be looking for a digitally enhanced shopping journey whether engaging at home, via mobile or inside a physical location.

The report pegged 5G as the path for India's self reliance which will accelerate economic growth, increasing job opportunities and connecting the urban and rural population.

Peeyush Vaish, partner and telecom sector leader, Deloitte India, said, “With the right mindset and technological prowess, the Indian telecommunication industry can use 5G to accelerate economic growth and resilience in the country. 5G is also expected to empower organizations to act on rich datasets in real-time, offering unprecedented visibility, insights, and control over assets, products, and services. We also expect a surge in the requirement for private networks in Indian industries once they comprehend the benefits of shifting to 5G network."

The report highlighted that 5G will drive efficiency in critical sectors, such as energy, healthcare, and agriculture, a step in the direction of not only commercial consideration but also social outcomes.

Combined with ultra-low latency and high data rates, 5G is expected to create avenues of collaboration and alliances as well as drive India to reimagine a whole new way of engaging in the new, faster, agile digital world.

Vaish added that newer trends will emerge like smartphones becoming bigger and slimmer, likely becoming more foldable or expandable. 

"Given the embedded 5G hardware, technology will be seen summarising the world in our hands via smartphones seamlessly bending reality into virtual reality," according to the findings of the report.

Digital experiences will transform traditional shopping behaviours and the focus will be on providing enhanced customer experiences by combining benefits of physical brick-and-mortar stores with immersive shopping platforms.

While telecom companies continue to strengthen their 5G capabilities and build a robust infrastructure, various state governments are gearing up for the adoption of 5G connectivity for good governance, the report said.

In addition, the allocation of spectrum licences to non-telecoms will help promote nonpublic captive networks which would not only yield benefits for major telecom and technology companies, but also strengthen India's startup ecosystem, enabling them to operate as system integrators for enterprises and administer their 5G private networks, it said.

Deloitte expects a spurt in private network requirements in Indian industries once the benefits of the shift have been realised, ultimately solidifying the B2B enterprise telco story.