A Systematic Literature Review on the Business Implications of 5G

Mattia Magnaghi, Antonio Ghezzi

and Andrea Rangone

Politecnico di Milano, Department of Management, Economics and Industrial Engineering,

Via Lambruschini 4B, 20156 Milan, Italy

Keywords: 5G, Business Model, Business Model Innovation, Lean Startup, Digital Transformation.

Abstract: In a fast-changing environment as nowadays, fostered by cutting-edge digital technologies, opportunities may

emerge and then disappear abruptly, for this reason, companies must be able to seek them to remain

competitive. By looking at very relevant and recent technology, the 5G connectivity, how companies could

leverage it experiencing a technology shift is still unclear, both from a practitioner and theoretical perspective.

If on one hand, the 5G is a hotly discussed topic in non-social sciences, on the other hand, the managerial

literature appears ambiguous and fragmented in the way it is presented. Such absence recalls for research

whose purpose is to try to position the 5G search thread also in the business and management stream. The

work aims to systematize previous knowledge and identify potential directions related to 5G technology in

the above-mentioned literature.

1 INTRODUCTION

According to Chesbrough (2010), it is not just a

matter of leveraging the best technologies available in

today's digital world, rather being confident with the

development of alternative businesses enabled by

these allows firms to be more competitive.

Furthermore, also from a more network perspective

(Jocevski, Arvidsson, Ghezzi, 2020), the adoption of

these technologies may entail in most cases the

reshaping of market boundaries by highlighting new

intersectional convergence within industries.

This is particularly true for what concerns the 5G

technology since due to the higher range of markets

and applications opportunities it brings, it cannot be

considered just a technological transition, as it was for

earlier generations of cellular technology, rather it

represents a revolutionary phenomenon which could

deeply change the competitive landscape for wireless

services (Lehr, Queder, Haucap, 2021). It is more “a

toolbox of capabilities than a one-size-fits-all

technology” (Lehr et al, 2021; p.1), and for this

reason, it not only constitutes a complex technology

in terms of technical development, but it also requires

a change in the actors’ attitude, especially of Mobile

Network operators (MNOs) (Lehr et al, 2021), which

have always played an important role in the

https://orcid.org/0000-0002-2084-4521

telecommunication domains (Noh, Kim, Song, Lee,

2021), characterized by high rates of volatility

(Ghezzi, Cortimiglia, Frank, 2015).

However, even if it represents a very new

technology with high potential, there is still

ambiguity and fragmented knowledge about its

strategical adoption. All these implications recall

further investigations to address emerging challenges

with great scientific and social relevance.

Consistently, this works aims to trace the state of the

art of the 5G literature in the social sciences field by

defining a search protocol to systematically structure

extant knowledge about the above-mentioned

technological paradigm and identify potential

directions.

The paper is structured as follows: in Section 2 the

search protocol with the description of the eligibility

criteria is presented, then in Section 3 a conceptual

review about the state of the art of 5G literature in the

business and management field is presented. Finally,

the paper ends with a discussion about the

methodologies used by scholars to try to investigate

the gaps that emerged in literature and the

identification of future avenues.

522

Magnaghi, M., Ghezzi, A. and Rangone, A.

A Systematic Literature Review on the Business Implications of 5G.

DOI: 10.5220/0011828000003467

In Proceedings of the 25th International Conference on Enterprise Information Systems (ICEIS 2023) - Volume 2, pages 522-529

ISBN: 978-989-758-648-4; ISSN: 2184-4992

 2023 by SCITEPRESS – Science and Technology Publications, Lda. Under CC license (CC BY-NC-ND 4.0)

2 SEARCH PROTOCOL

2.1 Inclusion Criteria

First, The SciVerse Scopus online scientific articles

database has been selected as the most appropriate

source for the research. Regarding the selection of the

keywords, the choice has been driven mainly by the

necessity to draw a state of the art of 5G technology

literature.

To do so, the identification of papers with “5G”;

“Fifth generation technology”; “Fifth generation of

mobile communication”; “Fifth generation of

wireless networks” present in their title, abstract and

keywords section has been carried out. Together with

a keyword-based search, a backward approach to

identify other related studies (n= 5) has been

followed.

Other inclusion criteria regard the domain the

papers selected belong to, which is Business,

Management and Accounting. Furthermore, the

subject areas of Social and Decision Sciences have

been also considered to broaden the analysis.

Finally, only articles and reviews in English were

considered due to their higher quality.

The output from The SciVerse Scopus database of

the above-mentioned query was 977 papers, updated

in July 2022.

2.2 Exclusion Criteria

To maximize the specificity of the studies included in

the research, several exclusion criteria have been

defined.

(i) Studies requiring technical competencies

(n = 186): all the studies where technical competence

or specific knowledge is required to deeply analyse

technology-dominated sectors have been excluded

(e.g., Lee and Ko, 2021).

(ii)No implications for strategy, entrepreneurship,

or innovation (n = 87): this criterion has been used to

confine the research objective to the strategic,

entrepreneurial and innovation field. Every article

concerning different application domains has been

excluded unless there was clear evidence of

implications for the above-mentioned area without

being mentioned expressly (e.g., Cheng, Hu, Varga,

2022)

(iii) Clear focus on Implications for sustainability,

globalization, emerging countries, government issues

(n=80): all topics about heterogeneous development

at the global level, developing countries, and

applications to increase sustainability have been

excluded because being highly relevant topics they

would need a separate literature review on its own

(e.g., Parcu, Innocenti, Carrozza, 2022).

(iv) Scimago Journal Rank (n = 576): To

guarantee both the inclusiveness of Scopus database

and the quality of the journal outlet considered, only

articles published in journals whose rankings are Q1

have been included.

The last access on the above-mentioned list was

done on the 15

of July 2022. After the text screening,

other papers have been excluded (labelled in the

prism below as “Out of scope”) because they only fit

the exclusion criteria just described after reading the

entire text, or because 5G was not the central theme.

The final sample of papers considered for the

conceptual review was 40.

Here below the screening process of the query

above mentioned are reported.

Figure 1: The document screening process.

A Systematic Literature Review on the Business Implications of 5G

523

3 5G STATE OF THE ART

Looking at the papers’ typologies, several works are

conceptual reviews. However, among them, it is

possible to find different perspectives adopted. For

instance, most of these refer to spectrum policies and

regulations, especially taking into consideration

different countries (e.g., Teece, 2021; Blind and

Niebel, 2022). Other conceptual reviews refer to

specific application fields (e.g., Dolgui and Ivanov,

2021) or 5G implications in the digital innovation

process of the small and medium enterprise

(Olokundun, Ogbari, Falola, Ibidunni, 2022).

Furthermore, two bibliometric reviews have been

found (Mendonça, Damàsio, de Freitas, Oliveira,

Cichy, Nicita, 2022; Buggenhagen and Blind; 2022).

Several papers are based on case study

methodology where a specific business case, industry

or country has been described (e.g., Gooderham,

Elter, Petersen, Sandvik, 2022; Lee and Yu, 2022;

Schneir, Bradford, Ajibulu, Pearson,

Konstantinou, Osman, Zimmermann, 2022; Massaro

and Kim, 2021).

In the sample of papers considered, also

quantitative studies are present. The usage of

predictive analytics and scenario-based assessment

exemplifies the aim of such works, which try to

measure quantitatively the effect of the factors

considered, such as regulations, technological

standards and 5G mobile broadbands coverage (e.g.;

Wen, Forman, Jarvenpaa, 2022; Rathje and Katila

2021; Schneir et al, 2019; Oughton, Frias, Russel,

Sicker, Cleevely, 2018).

3.1 5G Business Reconfigurations

In the literature considered it is possible to find

several 5G business reconfiguration which appear as

attempts to define the technological one in a business

domain. In Table 1 the main 5G business

reconfiguration identified are synthesized.

3.2 5G Boundary Conditions

In this paragraph, the boundary conditions (Busse et

al.; 2017) intended as the conditions of existence of

5G technology have been figured out. In other terms,

based on the managerial literature, the aim has been

to identify which are the “building blocks” for the

development of 5G business cases. The four

categories identified are (i) expected value, (ii)

actors’ ecosystem, (iii) government policy and (iv)

technological requirements.

Table 1: 5G Business reconfigurations.

5G definitions Authors

Emerging digital

infrastructure

Oughton and Russel; 2020;

Gooderman et al.; 2022

Data and connectivity

technology

Mendonça et al:, 2022

Toolbox of capabilities Lehr et al.; 2021

Paradigm shift Lehr et al.; 2021;

Teece; 2021

Game changer Deng et al.; 2020;

Knipes & Bauer; 2022

General Purpose

Technology (GPT)

Knipes & Bauer; 2022;

Mendonça et al:, 2022

Junior GPT or Enabling

technology

Teece; 2018;

Schneir et al; 2019;

Rathje and Katila; 2021

Connectivity platform Ahokangas; 2021

“Eye and ears” of AI

systems

Gooderman et al.; 2022

3.2.1 Expected Value

According to Oughton and colleagues (2018), mobile

network operators (MNOs), who have always played

a key role in the telecommunications industry, must

be aware of the advantages and the threats coming

from such technology paradigm shift (Lehr et al,

2021). Already with earlier technologies, MNOs have

adjusted their business models, however, with the

fifth generation, it seems that the development

trajectory has changed strongly due to the high

expected value such technology is promising (Lehr et

al, 202; Gooderham; 2022).

Guo and colleagues (2022, p.52) affirm explicitly

that MNOs must shift from “the business-to-

individual-customers model to the business-to-

business model”. The same scholars put emphasis

also on the fact that shifting from customized network

structures could play a crucial role in terms of

business model development. However, such

reasoning is extended by Bauer and Bohlin (2022) by

affirming that if one hand the 5G customized

applications are promising higher revenues, on the

other 5G networks infrastructure might be very

expensive, for this reason, all the stakeholders

involved must be aware of such risk, especially

MNOs. According to Forge and Vu (2020), MNOs

have already agreed on this point, and they are aware

that infrastructure sharing could be the right solution

for cutting Capex and reducing risks.

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3.2.2 Actors’ Ecosystem

According to Blind and Niebel (2022), the 5G

ecosystem include a large variety of stakeholders with

different goals and interests. As a matter of fact, the

emergence of this technological paradigm will be not

only related to the telecommunications industry, but

rather other vertical industries will also exploit

wireless communication (Vuojala et al, 2020; Dolgui

and Ivanov, 2021). In these terms, greater attention

must be given to all those opportunities which are not

strictly connected to the MNOs, especially by

considering that if they do not rejuvenate their

business models, the risk is that specialized players

are in some way sabotaged by them (Bauer and

Bohlin, 2022). On the other hand, if MNOs continue

to pursue the same role as suppliers of connectivity,

they will risk losing competitiveness. What emerges

is the importance of collaborations between the

different players with heterogeneous competencies to

reduce costs and gather all the opportunities the 5G

offers (Hutajulu et al; 2021). More in general, Rathje

and Katila (2021) demonstrated through their

quantitative study the importance of collaboration

between governments and private companies to shape

the new ecosystem. This is the reason why in the

following section the third boundary condition

identified for the development of 5G business cases

is the so-called “Government policy”.

Similarly, Massaro and Kim (2020) state that 5G

technology cannot be considered just as a technical

artefact, rather, it is socially constructed. The authors

distinguish between non-private actors, which are

government, research institutes and universities and

users, private actors, which are MNOs, equipment

manufacturers, service providers and also “new

actors”, intended as additional players which join the

ecosystem due to new opportunities the technology

could bring.

With a clear focus on the business-to-business

sector, Knieps and Bauer (2022) put emphasis also on

the importance of third parties’ providers such as

system integrators and local network operators, which

could play a crucial role in building solutions for local

industrial networks.

From another perspective, Bauer and Bohlin

(2022) distinguish between four different layers and

place the different players depending on their core

competencies and business strategy. In the lower part,

it is possible to find passive and active infrastructure

layer which constitute the physical network layer. In

the upper find it is possible to find the enablers on the

so-called enablement, the development layer and the

application service layer. On the top, the end user,

while on each layers an orchestrator provider is

present.

3.2.3 Government Policy

According to Knieps and Bauer (2022), the 5G

technology has introduced governance and

management challenges never seen before.

If on one hand, MNOs need government support

to face the uncertainty arising from 5G adoption

(Forge and Vu, 2020); on the other hand, a stable

standards roadmap in terms of spectrum bands is

necessary to foster the development of private 5G

network deployments (Forge and Blackman, 2017).

The fifth generation of mobile communications

allows the development of deployments on a wider

spectrum range, from 450 MHz to 24,25-52,6 GHz

(Bauer and Bohlin, 2022). Vuojala and colleagues

(2020) in their works analysed several “spectrum

scenarios” to understand all the possible

configuration in terms of licences and 5G private

deployments for vertical industries. Knieps and Bauer

(2022) summarized the spectrum policy to distinguish

between principal deployments options and all the

possible spectrum licences configuration, both in

terms of the licence and unlicenced spectrum, and the

national and local. The scholars also summarized the

spectrum allocation by nation from 2017 to

nowadays, distinguishing between the licenced and

unlicensed spectra. Furthermore, Bauer and Bohlin

(2022) also focus their attention on the different

regulations in the selected countries, and they also

clarified which are the current spectrum bands

dedicated exclusively to 5G private deployments.

3.2.4 Technological Requirements

As previously mentioned, one of the exclusion

criteria of the search protocol was related to the

exclusion of studies requiring extensive technical

competencies. The information is gathered just from

the managerial literature due to the aim of the works,

for this reason, some limitations may emerge in this

paragraph. However, it is fundamental to consider it

in terms of boundary condition since without

adequate technological infrastructures it is not

possible to develop 5G business cases.

According to Henriquez and colleagues (2022),

the main investments regard the ICT physical

infrastructure, and it will foster also IoT use cases. In

these terms, Bauer and Bohlin (2022) specify that

inputs that might be considered necessary resources

are antennas, routing of cables and backhaul. ICT

infrastructures allow reaching the 5G requirements.

A Systematic Literature Review on the Business Implications of 5G

525

Accordingly, Lehr and colleagues (2021)

underline the necessity to deploy more cellular base

stations. In addition, they mention the re-architecting

of the radio-access networks (RANs) which

constitute a greater opportunity also in terms of cost

management. Another element the scholars introduce

is the necessity of expanding the use of radio-

frequency spectrum resources, especially with private

and dedicated network deployments.

Furthermore, the paradigm shift represented by

5G requires further improvement of the internet, such

as network slicing (Kim, 2020). Vuojala and

colleagues (2020) mention also the Mobile-Edge

computing (MEC) together with the network slicing

function, to indicate which are the elements to

guarantee adequate communication between different

users.

4 5G BARRIERS AND

LITERATURE GAPS

Together with the boundary conditions presented so

far it is important to mention that there are also

barriers which slow down the diffusion of the

technology. Furthermore, there are still several gaps

which have emerged from the literature, and they

refer both to the boundary conditions described and

the barriers just mentioned.

4.1 Infrastructural and Institutional

Failure

Starting from the first barriers identified, both

infrastructural or, in other terms, technological, and

institutional failure may emerge in the development

of 5G business cases. According to Hutajulu and

colleagues (2021), From an institutional perspective,

several scholars mention the necessity to deepen the

mechanisms for developing technological standards,

but also to allow companies which are not directly

involved in the standards definition to have access to

it since it represents an input for complementary

innovations (Wen et al, 2022). Other uncertainties

regard intellectual property rights and health and safety

regulations (Blind and Niebel, 2022). Also considering

the business-to-business sector, as already mentioned

before, the necessity to regulate the spectrum’s

availability and accessibility, especially for what

concerns 5G private network deployments, constitutes

a boundary condition. Every kind of uncertainty and

worse choice related to this could constitute another

important barrier to 5G adoption.

4.2 Uncertain Costs and Benefits

Granted that scholars agree to the fact that 5G

promises a great expected value and the possibility of

sustainable and profitable business models, as

proposed in the previous section about 5G business

cases’ boundary conditions, it is likewise true that the

uncertainties related to costs and revenues influence

negatively such dynamic (Dolgui and Ivanov, 2021).

5G technology is costly and more technologically

complex than previous technologies (Forge and Vu,

2020), and due to its characteristics of being a junior

GPT (Teece, 2018), it is cross-sectorial, and it

involved a large portfolio of stakeholders, which

complicate even more the situation.

Apart from choices regarding technicalities, each

stakeholder involved must understand how to

overcome the infrastructure’s capex and the R&D

investment costs (Forge and Vu, 2020; Blind and

Niebel, 2022), and this aspect is particularly relevant

for MNOs, which roles are fundamental. If on one

hand there is still a gap regarding the value creation

mechanism of private companies by adopting 5G in a

specific field (Dolgui and Ivanov, 2021), on the other

hand, mobile network operators must rejuvenate their

business models, especially for what concerns their

value propositions and their networks architecture

(Moqaddamerad, 2020; Lehr et al, 2021; Gooderham

et al, 2022). Similarly, Rendon and Schneir (2019)

reinforce these reasonings by explicitly saying that

until now few authors have discussed 5G revenues

and costs streams and how to build a sustainable

business model. Schneir and colleagues (2022) tried

to investigate it by looking at the possible business

cases a mobile network operator could realize in a

seaport area.

More in general, Noh and colleagues (2021)

mention the challenge regarding the connection

between technology resources and business

objectives by underlining the importance of

considering technology as a fundamental asset for

strategic planning and by introducing the need for a

“technology-driven strategy”.

4.3 Actors’ Reluctance

According to Hutajulu and colleagues (2021), several

stakeholders are hesitant in adopting 5G technology.

Actors involved perceive several risks in adopting the

new technology, and they are also characterized by

heterogeneous interests. On one hand, equipment

suppliers foster the 5G roll-out, on the other, mobile

networks operators need to understand how (i) to

innovate their business model, especially considering

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new revenue streams, and (ii) how to face the rise of

Over The Top (OTT) services, which pose a

dangerous threat (Blind and Niebel, 2022). More in

general, private sectors’ reluctance in adopting 5G

may emerge from a lack of a precise risk assessment

(Forge and Vu, 2020), or maybe from the uncertainty

driven by the lack of a clear definition of what the

technology could bring to the society and business

(Blind and Niebel, 2022). Such digital transition

caused by 5G introduces many questions which need

further investigation (Lee and Yu, 2022).

Finally, debate regarding 5G social impact (Mansell;

2021) as well as heath implication (Bruns et al., 2020)

are still open, and this negatively influences the the

5G’s social acceptance, further complicating the work

of the actors involved. However, as mentioned in the

exclusion criteria, papers regarding these matters,

together with the ones describing environmental

impact and implications for sustainability have been

excluded in the search protocol because, being

extremely highly relevant topics, they would need a

separate literature review on its own.

5 DISCUSSIONS

After an interpretation about which are the possible

boundary conditions and barriers for the development

of the 5G business case, in this section the principal

ways of investigations used by scholars to investigate

the above-mentioned gaps are discussed. Finally, the

limitations and further avenues are described.

In general, the techniques used in this context to

close the gaps presented so far are future-oriented

methods. For instance, the scenario-planning

approach has been applied by Moqaddamerad (2020)

and Jeong and colleagues (2016) studies, to forecast

respectively how business models’ innovation

happens during the adoption of emerging technology

and the feasibility of a specific application. In Jeong’s

(2016) research also morphology analysis has been

cited to be useful for analysing technologies

combined with new business models.

Furthermore, Hutajulu and colleagues (2021)

mention the simulation as an optimal method to gain

the approval of the actors involved regarding

infrastructure sharing. In a similar way, Ahokangas

(2021) writes about the analysis of future-oriented-

case to deepen such complexity in terms of

stakeholders involved, as it could be the case of a

seaport developing a 5G private network. Such

approach is emphasized also by Noh and colleagues

(2021) in mentioning the development of a value

proposition map based on future circumstances

defined by an depth-analysis of trends, predictions,

and eventual relationships among them. For instance,

the road mapping approach is a solution proposed by

these scholars, especially they propose an integrated

approach called “technology road mapping” which

considers both the technology-push strategies with

the market-driven one.

By analysing the 5G management literature, the

need for greater structuring to intercept relevant

phenomena emerged. As a matter of fact, it seems that

the strategic impact of new technological paradigms,

which may hold idiosyncratic implications in the

strategy implementation dynamics, is still largely

unstructured and there is still ambiguity and

fragmented knowledge about it.

The gap just described emerged also through a

non-systematic search regarding the literature about

BMI and technology. As mentioned by Foss and

Saebi (2016), several studies describe BMI in a

retrospective way when considering the adoption of

specific technologies, however, it is not the same way

common to find predictive and theoretical

perspectives. Accordingly, Baden-fuller and

Heaflinger (2013) and Tongur and Engwall (2014)

address the fact that often the impact of technology

adoption is restricted to performance measurements,

however, such a link with technology requires further

investigation at a BM architecture level by

understanding the mechanism to innovate BM

through its components to create value.

6 CONCLUSIONS

6.1 Theoretical Implications and

Future Avenues

The research aims to position the 5G search thread in

the business and management literature by

systematizing previous knowledge and identifying

potential directions related to 5G technology in the

above-mentioned stream of research. After having

presented a search protocol to make this research

falsifiable, reproducible, and scalable over time and

to continuously update it, a conceptual review has

been presented to figure out which are the definitions,

the opportunities, the boundary conditions, the

barriers, and the literature gaps of such very relevant

and recent technological paradigm. By following the

search protocol presented so far it will be possible to

include also other papers to improve the framework

presented and to reason about others boundary

conditions and barriers, as well as enriching the

existing ones. Finally, this work aims to generate

A Systematic Literature Review on the Business Implications of 5G

527

research questions which can be traceable to the

general and more theoretical context.

6.2 Practical Implications

The research emphasises that it is the right moment

for stakeholders to brainstorm and develop

sustainable business models to capture the value that

5G technology promises. Furthermore, the necessity

to create an active ecosystem in the

telecommunication industry and beyond has emerged

as well.

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