The stock of Oracle Corporation (NYSE:ORCL) traded at $52.11 when it released a report on 5G readiness of businesses. It now trades at $52.13. The market cap of Oracle is $187.45 billion. The company expects to achieve an EPS growth of 7.61% in 2020.
Oracle surveyed to find the readiness of businesses to embrace the 5G technology and improve their revenues. The survey included 265 Enterprise IT/ business decision-makers at large and medium enterprises worldwide. The results show that most of the businesses intend to use 5G services. They should think 5G as an enabler of the smart ecosystem. General Manager and Vice President of Oracle, Doug Suriano said the businesses should ask questions like how to use 5G in upcoming business solutions and what is the timeframe.
5G Ecosystems for Enterprises
Among the 265 respondents, 5G wireless networks would be transformative and have a long-lasting impact on the businesses. Another 75% said 5G networks would revolutionize the IoT. Both IT and business respondents give top priority to security. Business respondents seek quality experience of 5G services. 5G has a potential to offer solutions like smart buildings and homes, industrial automation, live streaming, immersive gaming, connected vehicles, and virtual reality.
Early business use cases
5G would blur the difference between wireless and fixed network connectivity. The prominent carrier AT&T would introduce its first device that serves as a hotspot. Small offices and small offices could ensure uninterrupted connectivity and enhanced bandwidth with the newly introduced hotspot – Puck. The company sees an increased interest in these router solutions.
Video facilitates communication with customers. It also offers training to the employees and boosts productivity. 5G provides increased bandwidth for small businesses to make quality video calls to customers.
5G wireless network reduces time to respond. It enables faster transactions and reduces the wait time for the customers at a shopping establishment. Therefore, 5G enhances customer experience. It also supports smart highway. The 5G service provides support for self-driving cars and automatic toll booths. China is actively working to build a smart highway using 5G technology. China Mobile would provide the cellular services that support smart highway.