FinancialBuzz.com News Commentary
New York, NY (6/22/2022) – The 5G infrastructure is rapidly growing around the world. 5G is considered to be the next-generation cellular technology that will provide high speed reliable communication at ultra-low latency levels. It is currently used across three main types of connected services, including enhanced mobile broadband, mission-critical communications, and the massive IoT. The 5G technology market includes 5G connectivity technologies such as enhanced mobile broadband, ultra-reliable low latency communications, and massive machine type communications. In fact, 5G technology is expected to redefine communication, entertainment, and how people connect to the internet. Depending on the industry, some businesses can make full use of 5G capabilities. For instance, factories could use 5G to run industrial Ethernet to help them increase operational productivity and precision. uCloudlink Group Inc. (NASDAQ: UCL), Telefónica S.A (NYSE: TEF), VEON Ltd. (NASDAQ: VEON), Nokia Corp. (NYSE: NOK), Wipro Limited (NYSE: WIT)
The new wireless technology is expected to help propel several innovative tech sectors by providing them with new capabilities. For example, the need to ensure strong, seamless, and uninterrupted connectivity with autonomous vehicles is expected to drive the adoption of 5G services. Furthermore, the widespread deployment of the 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. On the other hand, the potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to help the market. And, according to data provided by Grand View Research, the global 5G services market size is estimated to reach USD 1.67 Trillion by 2030, while registering a CAGR of 52.0% from 2022 to 2030.
uCloudlink Group Inc. (NASDAQ: UCL) reported earlier this month that, ‘the Company’s operating subsidiary, HONG KONG UCLOUDLINK NETWORK TECHNOLOGY LIMITED, has expanded its existing relationship with Ctrip Travel Holding (Hong Kong) Limited (“Ctrip”), an operating subsidiary of Trip.com Group Limited (NASDAQ: TCOM; HKEX: 9961), through various contracts whereby UCLOUDLINK will provide international data connectivity services and products through Ctrip’s platform.
Ctrip will continue to act as a selling agent for UCLOUDLINK’s data connectivity services and products through Ctrip’s platform. UCLOUDLINK will also provide its standard and customized international data connectivity services to Ctrip’s self-run tour groups and those run by third party travel agencies on the Ctrip platform.
Despite being affected by the emergences of the Omicron variant and the increasing global uncertainty, global tourism is roaring back with a robust momentum unseen since 2021. According to the latest UNWTO World Tourism Barometer, the data shows that during the first quarter of 2022, Europe welcomed almost four times as many international arrivals (+280%) as in Q1 of 2021, with results driven by strong intra-regional demand. In the Americas arrivals more than doubled (+117%) in the same three months.
‘We have been working with Ctrip for many years and are pleased to deepen our relationship with a leading global one-stop travel platform. Against the backdrop of the travel boom at the start of 2022 that is set to drive up the global spending on travel-related services, we build upon the years-long business alliance with Ctrip to further expand the availability of our international data connectivity services and related products for customers worldwide, allowing them to stay connected with the help of UCLOUDLINK’s reliable, better, high-quality internet data connectivity services and accessories, whether it is for traveling, remote working, or remote learning.’ said Chaohui Chen, CEO of UCLOUDLINK.
As a pioneering technology solution provider in the era of 5G Cloud, in addition to its data connectivity services, hyper-connectivity solutions and relative products, UCLOUDLINK is also spearheading the development of the PaaS and SaaS platform by introducing cloud SIM and hyper-connectivity technology, which is designed to offer uninterrupted, seamless and high-speed internet connection without limitation. Looking forward, UCLOUDLINK will join forces through its extensive global partner ecosystem to expand the applications of our services, solutions, and products as well as make the world better connected without limitation.”
Telefónica S.A (NYSE: TEF) announced on March 29th, that it has successfully executed 8 of the 23 use cases working to explore and identify applications of 5G technology in the city of Malaga. Specifically, eight different use cases have been developed for the Malaga Police and the University of Malaga in sectors such as security, smart cities and education. This initiative seeks to boost the deployment of 5G networks and is one of the cornerstones of the Digital Spain 2025 strategy. David del Val, CEO of Telefónica I+D, said: “The projects carried out in Malaga have helped us to demonstrate that the application of 5G technology represents a qualitative leap for companies and public administrations and shows that it is necessary to continue researching and investing in innovation so that the country and its companies continue to advance technologically”.
VEON Ltd. (NASDAQ: VEON) business division, Beeline business has announced last year that it has successfully tested the first industrial Augmented Reality (AR) glasses across 4G/5G networks in Russia. The tests used JSC Inline Group’s IKSAR industrial operations software to show how high-resolution AR video could be provided to field workers to improve safety and efficiency. “Digitalisation is changing not only the way businesses operate, but entire industries,” said German Borodov, Key Account Director at PJSC VimpelCom. “We are confident that AR glasses will soon become as familiar and convenient for field workers as tablets or mobile phones are today.”
Nokia Corp. (NYSE: NOK) announced on June 21st, the launch of the 5G Innov Lab platform as part of the France Recovery plan. The Nokia-led platform has the objective of testing and integrating 5G industrial uses, using an open and transversal approach; and brings together various entities, including Airbus Secure Land Communications, Augmented Acoustics, Digital Immersion, IMT, SNEF Lab, Nokia Bell Labs, and Paris-Saclay Hardware Accelerator. Pierre-Gaël Chantereau, President of Nokia in France, said: “5G will play a critical role in the transformation of the industry and verticals and this Nokia-led platform will enable the development in France of new use cases, with the support of all partners. France has many assets, supported by both historical and new players, and the cooperation of these actors is essential to accelerate developments and guarantee our competitiveness at the European and global levels.”
Wipro Limited (NYSE: WIT) and HFCL Limited announced on May 5th that they have entered into a partnership to engineer a variety of 5G transport products that include Cell Site Router, DU (Distributed Unit) Aggregation Router, and CU (Centralized Unit) Aggregation Router. “We are proud to partner with HFCL in their journey to invent the next generation of 5G products for network service providers in India and globally. We will leverage our strong experience in network equipment engineering, expertise in 5G/LTE and VLSI (Very-Large-Scale Integration) system design, engineering design services and embedded software. We are confident that this collaboration will ensure an accelerated go-to-market for HFCL,” said Satya Easwaran, Country Head, India, Wipro Limited.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.