Real Estate Firms Have a Common Way to Gain a Competitive Edge in the 5G Market
The only thing faster than 5G’s data rates and customer growth is the speed at which communications service providers (CSPs) are deploying 5G cell sites. By 2027, CSPs will add roughly 36 million 5G small cells. And just in time: That’s also the year when 5G will begin to account for all mobile data traffic growth.
This adds up to major immediate and long-term business opportunities for commercial real estate owners. For example, although 5G networks still use traditional towers, they need far more small cells to provide gigabit speeds — especially for fixed wireless access (FWA) services such as residential broadband. That means over the next few years, CSPs will need access to millions of office buildings, shopping centers, parking garages, apartment complexes and other commercial real estate locations to deploy their small cells.
The catch is that the 5G market opportunity is not a slam dunk. Only a certain type of commercial real estate owner has what it takes to be financially successful in the 5G market. Their secret weapon is fluency in iconectiv TruOps Common Language, the industry-standard nomenclature and framework that more than 1,800 CSPs, network element providers (NEPs) and equipment manufacturers and other telecom ecosystem members rely on over 30,000 times each day.
CSPs and companies that own, operate and manage towers and other network sites use Common Language to understand the location, capabilities and other key attributes of data infrastructure. When commercial real estate owners use Common Language to register their assets, they gain a competitive edge over rivals that don’t. For example, with TruOps Common Language CLLITM Codes, site-selection managers can easily see the functionality available at each location, enabling them to make quick decisions to keep their aggressive 5G buildouts on schedule.
These decision-makers also know that Common Language means all of those attributes are accurately documented in the telecom ecosystem’s preferred format. This is critical for avoiding misunderstandings that can delay the launch of 5G cell sites or increase their deployment cost. As a result, using Common Language makes those assets more attractive to CSPs, putting commercial real estate owners in a better position to capitalize on the burgeoning 5G market.
To learn more about why and how savvy commercial real estate owners are using Common Language, click here for more information.