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Although the rollout of 5G networks has been disproportionally thwarted by the COVID-19 pandemic in emerging economies, formerly hesitant businesses are now seeking to adopt digital technologies, looking increasingly for added value beyond faster speeds. Nevertheless, this technology is expected to catalyze Mexico’s digital transformation, benefiting all business industries and the overall economy.
“At the end of 2019, leaders projected the widespread adoption of digital technologies in the next four to five years, specifically related to cloud services technology, cybersecurity and blockchain,” said Carlos Perea, Digital Transformation Strategist & Senior VP, Cradlepoint.
Companies that realized the potential of this disruptive technology and invested before the pandemic won big and “are already seeing the results,” experiencing rapid growth over the last 12-18 months. Meanwhile, companies that had failed to invest in digital technologies suffered and now find connecting to consumers difficult.
Existing internet infrastructure is mainly made up of legacy installations such as coper wires, which are severely limited and increasingly obsolete. Updating this inflexible infrastructure can get expensive and it does not offer the option of adding other technologies or added services without compromising the speed of the network. This is particularly important now that people are increasingly working remotely and may lack the necessary infrastructure to support added features, potentially compromising the security of business operations.
Infrastructure, added value and cybersecurity are “the three principal features that big corporate clients are beginning to look for to build a sustainable growth model and extend these capabilities to their users,” said Perea.
Initial 5G applications are being used in company vehicles and fleets to monitor and control transactions remotely. Other uses include real-time logistical tracking, monitoring deliveries and intracompany asset tracking. This stands to innovate the internal process of all public and private sectors from healthcare to agriculture.
As people have realized the potential of this technology, business leaders have become impatient with the rate and investment needed to update existing legacy infrastructure. Cradlepoint offers a way to bypass this wait period to start using now 5G applications and all the available value-added services the technology offers. Companies that invest in 5G now stand to get ahead of the market and develop knowhow before their market competitors.
“Those do not have the capability to implement this technology are currently faced with an internal battle to figure out how they will survive and maintain their competitiveness,” said Perea.
Overall, 5G technology and adaptations stands to add layered dynamism to Mexico’s already robust emerging market sectors, where early adopters stand to come out as winners over those who trail behind. This is particularly important in an economy that is characterized by a young population that has readily embraced technology applications and will lead future business sectors. Since Mexico is still in the initial stage of its digital transformation, concrete projections of how this technology will revolutionize industries is unclear but they will most definitely catapult competitiveness of the economy for the benefit of the consumer.