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A new survey by PwC Cyprus and the University of Nicosia on 5G networks records among others, the level of awareness and the degree of readiness of the Cypriot market for the adoption of this new technology.

The report entitled "5G Opportunities & Challenges" drew data and conclusions from the answers provided by more than 400 participants in the survey. Participants were asked to answer questions about the usage of and level of satisfaction with, connectivity services, familiarity with mobile data, level of interest in 5G and their intention to adopt this new technology. In addition, the report includes conclusions and specific suggestions for the consumers, telecommunications providers and society at large in relation to the successful development of the new revolutionary technology.  

Survey participants reported that their overall satisfaction with current internet services is high, with more than 78% of users stating that they are satisfied with their primary internet connection. The current high satisfaction level however, is setting the bar high for 5G implementation. Users report that speed (40%), cost (29%) and reliability (20%) are the three most important features for improving their internet connection.

According to the survey, a very high percentage (72.4%) of the respondents are familiar with the term "5G", while it is worth noting that the majority of unfamiliar respondents belong to the age group of under 20 or over 50 years old.

83% of respondents state that "faster data speeds" are the most important factor that would contribute to their willingness to pay more for 5G. It is followed by "quicker response times" with 49%, "better quality video calls" with 42% , "more bandwidth to accommodate more devices" with 41% and "increased reliability" with 40%.

If 5G networks were to be deployed in the next 12 months, survey participants expressed concerns about potential health risks (69%), disruption to urban landscape (39%), lack of sufficient 5G compatible devices (26%) and the possible failure of 5G to deliver on promised upgraded capabilities (23%).

In statements, George Ioannou, Assurance Director at PwC Cyprus, who has contributed in drafting the survey, underlined its importance, describing it as a very useful tool for drawing conclusions for both society and the market. "The benefits that 5G will bring to society over the next decade are expected to be revolutionary. Through this survey, we want to contribute to the public debate; a necessary element for the successful development and commercialisation of 5G and of the use cases which are expected to be unlocked from its implementation".

On behalf of the University of Nicosia, Professor Petros Lois, Head of the Department of Accounting of the School of Business and Holder of the PwC Chair in Business Research at the University, stated that the new revolutionary 5G technology has well made its way into global research and highlighted  the fact that the specific survey addressed the views and perceptions of the wider society. "It is necessary and equally important for research to take into consideration the expectations, but also the concerns regarding something new, which will penetrate the social, economic and business life," he stressed.

Stockwatch