Weilan Huang, Senior Director of 5G Industry Development Strategy from Huawei Cloud Core Network, announced the launch of the 5G Multimedia Industry Promotion initiative at The Mobile World Congress currently being held in Shanghai.
China Mobile, CAICT, GSMA, 5MII, 5GSA among other companies and institutions, jointly launched the 5G Multimedia Industry Promotion Initiative at the summit, to further implement the research outcomes of the white paper 5G Network Slicing Business Opportunities for Multimedia also launched at the meeting.
Guests attending the initiative launch ceremony include Xuefeng Qiu, Vice President of Huawei Cloud Core Network, Zhiqiang Yang, Vice President of China Mobile Research Institute, Tiemei Kuang, Vice General Manager of Migu Co., Ltd., Feng Pan, Deputy Head of Radio Research Center at CAICT, Kelvin Qin, Global Head of 5G Projects, Future Network, GSMA, and Luigi Licciardi, President of 5GSA.
5G slicing + Multimedia open many suculent business opportunities
The multimedia market will grow to a global value of 900Bn dollars by 2023, with consumer entertainment as the main driver for the mentioned growht.
And 5G network slicing that provides higher bandwidth, lower latency, and dedicated QoS assurance will play a pivotal role in solving key difficulties , that the multimedia industry is currently bearing, such as collaboration, resolution, and video stuttering.
5G slicing will also provide new revenue growth opportunities for all participants in the multimedia industry value chain. These participants include hardware vendors, content creation companies, and operators.
GSMA and IHS Markit forecast that 5G network slicing will create a revenue growth opportunity of $300Bn for operators by 2025. The revenues from multimedia and related services is expected to account for one third of the total value.
Games and live broadcast are among the multimedia aplications to benefir the most from 5G network slicing.
The three major measures within the 5G Multimedia Industry Promotion Initiative
Huang, on behalf of the partners in the %G Multimedia Industry Promotion Initiative, read out the whole proposal and shared with the audience three major measures:
1.- Promote business practices. The union will abide by the white paper to continuously promote the 5G network slicing applications, industry pilots, and business model implementation in the multimedia sector.
2.- Continuously innovate. Based on the joint innovation center of each unit, the union will verify multimedia technology and commercial feasibility, and quickly replicate successful applications.
3.- Collaborate with each other for a prosperous future. The union will launch a platform for communication among multimedia experts, promote the win-win cooperation between upstream and downstream partners in the multimedia ecosystem, so as to build a prosperous 5G multimedia industry.
Image over the headline.- Representatives of the companies and associations launching the 5G Multimedia Industry Promotion Initiative