Both consumers and advertisers across Southeast Asia are looking forward to the introduction of 5G networks, although their understanding of the benefits of the technology brings doesn’t necessarily match their excitement levels.
An online survey by Verizon Media of more than 600 consumers and 140 marketing professionals from Singapore, Malaysia, Indonesia and the Philippines – countries that are targeting to launch commercially viable 5G networks as early as 2020 – found widespread awareness.
An overwhelming majority of respondents (92%) had heard about 5G and just over half (53%) said they were “extremely excited” about the technology.
But only 32% of consumers and 20% of marketers indicated that they were “at least moderately familiar” with the benefits 5G could bring.
The main benefit that consumers perceive is faster data transfer speeds, cited by 78% of respondents, which they expect to result in a better experience when it comes to activities like video streaming, content downloading, music streaming, gaming and watching TV.
And half (51%) are willing to pay more – typically $10 more than currently – to have that speed; only 14% of respondents indicated that cost is a key concern.
For advertisers, the benefits are seen as significant improvements across areas like content production (88%), more immersive ad formats (87%), better targeting with more data (85%), and enhanced video streaming experiences (85%).
“With significantly greater throughput and much lower latency, 5G will allow brands to power new kinds of consumer experiences,” said Francis Fung, Senior Insights Manager, International Consumer Growth Marketing, Verizon Media.
“Both volume and quality of content consumed will increase with 5G; that includes not only video but also the more vivid immersive experiences like AR and VR,” he added.
“However, with only 20% of marketers already familiar with 5G, advertisers will have to work strategically with the right partners to realise the opportunities possible with the 5G revolution.”
Sourced from Verizon Media