5G Infrastructure Could Spur $1.3 Trillion Global Media and Entertainment Market Over Next Decade
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Feb. 11, 2020 /PRNewswire/ -- A report commissioned by Intel and conducted by Ovum, predicted that 5G will represent 80 percent of wireless media revenues by 2028 and that nearly $3 trillion in cumulative revenue opportunities will be spurred by wireless technology from 2019-2028 and experiences enabled by 5G networks will account for nearly half of it (close to $1.3 trillion). The report: "… cites 2025 as the "tipping point" for 5G, predicting that by then, 57 percent of global wireless media revenues will be generated by the next-gen cellular standard, which promises bandwidth up to 100 Gbps. With speeds potentially up to 1,000x faster than the current 4G protocol, the buffering issues that come with livestreaming and large downloads will be a thing of the past. 5G's speed will also enable the growth of immersive services such as virtual reality (VR) and augmented reality (AR), which will generate more than $140 billion in cumulative revenues between 2021 and 2028. Ovum predicts that gaming will be at the forefront of 5G-led innovations, with AR gaming comprising annual revenues of nearly $36 billion globally, or more than 90 percent of 5G AR revenues." Active companies in the markets this week include Hawkeye Systems, Inc. (OTCQB: HWKE), Verizon Communications Inc. (NYSE: VZ), Vonage Holdings Corp. (NASDAQ: VG), Alphabet Inc. (NASDAQ: GOOG), CenturyLink, Inc. (NYSE: CTL).
By 2028, new "immersive," currently non-existent applications will provide an annual revenue bucket of $67 billion, which is the value of the entire current global mobile media market--video, music and games–in 2017, Ovum predicts. Another report from Gartner, added that the rollout of high-speed 5G mobile service is set to drive growth of augmented reality (AR) shopping to 100 million consumers by next year. Retailers will add AR technology, which overlays digital images on a person's view of the real world, to their stores and e-commerce channels to provide more immersive experiences for shoppers. It continued: "Almost half (46%) of retailers plan to deploy either AR or virtual reality (VR) technology, which provides a completely immersive view of a computer-generated world, by next year, per the Gartner report shared with Mobile Marketer. The technologies can help shoppers virtually try on products through advanced graphical visualization and simulation.
Hawkeye Systems, Inc. (OTCQB: HWKE) NEWS: Hawkeye's Future Subsidiary Selected to Participate on Expert Panel with Google and NASA at Upcoming HPA Tech Retreat - Hawkeye Systems announces that future subsidiary Radiant Images co-founder Michael Mansouri has been chosen to participate on a discussion panel with other established tech mavens from Google, NASA and Real Networks on Feb. 17 at the HPA Tech Retreat.
Now in its 25th year, the HPA Tech Retreat is the pre-eminent gathering of industry-leading thinkers and innovation-focused companies engaged in the creation, management, and dissemination of content. The 2020 Tech Retreat will be held at the Westin Mission Hills Golf Resort & Spa in Rancho Mirage, Calif.
Mansouri of Radiant will serve on a world-class panel along with three other well-known leaders in technology: Paul Debevec, Senior Scientist at Google VR; Rodney Grubbs, Program Manager at NASA's Marshall Space Flight Center; and Rea Rassool, CTO at Real Networks. The panel is titled Extreme Innovation: Human Visual Experience from Everywhere. The limits of camera engineering are being pushed at every extreme, from the microscopic to the gargantuan, from Arctic to volcanic, from oceanic floors to the outer reaches of space, and at every square inch around us. Can we see everything we'd ever want to see? And if we can, what will that tell us?
Mansouri will detail for the audience Radiant's recent breakthrough technology advancements and, along with the other forward-thinking industry leaders on the panel, share key insights and predictors of where technology is headed.
Mansouri is known as one of the industry's most knowledgeable, inventive and passionate technologists in all aspects of film and technology. He is an associate member of the ASC (American Society of Cinematographers), an invite-only membership group limited to less than 400 experts with distinguished credits in motion pictures. Mansouri was recognized by Studio Daily as one of the top 50 creatives and technologists in the industry.
"I'm truly honored to have been selected to participate on such an amazing panel and share the stage with this group," Mansouri said.
He added, "The 5G revolution is changing the game for those of us who are early adopters of immersive technologies. With Radiant's latest advancements in AI, automation and immersive technology, we're constantly pushing the boundaries to deliver the kinds of experiences we are imagining. By enabling a fully-mobile and connected society, 5G is unleashing technological and human possibility, which is creating massive business and financial opportunities." Read this full press release and more HWKE here: https://www.financialnewsmedia.com/news-hwke/
Other recent developments in the markets this week include:
Vonage Holdings Corp. (NASDAQ: VG) recently announced that LendingPoint, a data and technology platform provider for financial institutions, has chosen Vonage for its unified communications and contact center solutions to power all of LendingPoint's communication channels.
"We're delighted to be working with an award-winning, technology company like LendingPoint. We've been watching their growth journey and are excited to see our integration capabilities and scalable unified communications technology deliver a completely unique and personalized customer experience to their rapidly growing base of more than 7 million consumers," said Reggie Scales, SVP of Applications Group Sales for Vonage.
Alphabet Inc. (NASDAQ: GOOG) and Accenture (NYSE: ACN) recently announced that Google Cloud will be the cloud technology provider for Accenture's INTIENT™ life sciences industry platform.
The new, multi-year agreement brings Google's cloud and artificial intelligence capabilities together with Accenture's life sciences services and platforms and is intended to help life sciences organizations make their data more accessible, secure and valuable.
Verizon Communications Inc. (NYSE: VZ) recently announced that it has opened a new 5G Lab and production studio in London – the company's first 5G-enabled facility outside the United States – to support its international business and media customers. The Lab, which is now open for business, is based at Verizon's Mid City Place office in central London, and offers a live Verizon 5G-enabled environment where organizations can develop and test 5G applications and experiences.
Verizon's 5G Labs are designed to offer technology innovators a space to grow the 5G ecosystem. Start-ups, academics, companies and organizations work with Verizon in the Labs to explore the boundaries of 5G network technology, co-create new applications and hardware, and rethink what's possible in a 5G world. The potential use cases include exploring how autonomous vehicles, smart communities, virtual healthcare, smart manufacturing, the industrial Internet of Things, immersive education, augmented and virtual reality and responsive gaming can be enhanced with 5G's super fast speeds, massive bandwidth and low latency.
CenturyLink, Inc. (NYSE: CTL) recently announced that it has won contracts to build fiber that will modernize, update and protect critical infrastructure at five U.S. Army Corps of Engineers dams in Oregon and Washington.
CenturyLink's fiber will provide high-speed data transmission services to the Ice Harbor, Little Goose and Lower Granite Dams along the lower Snake River in Washington, and the Foster and Green Peters Dams along the Columbia River in Oregon, as part of the dam safety program.
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