5G is poised to fuel significant revenue growth opportunities for service providers, according to a new report by Ericsson. By 2030, service providers could capture up to $700 billion in new revenue from enterprise or B2B-related efforts, according to the telecom vendor.

According to the “5G for business” report, service providers will control 47% of the total 5G-enabled market that is expected to be served by information and communications technology players. And 5G-enabled revenues in the wider information and communications technology space will near $1.5 trillion by 2030.

“The journey to grow the 5G business starts now by building momentum and identifying 5G-enabled B2B opportunities,” said Jan Karlsson, SVP at Ericsson, in a prepared statement. The vendor encourages network operators to look beyond traditional mobile services for new revenues in IoT, private networks, and other enterprise applications.

The vendor also warns that revenues from currently available services, namely mobile broadband services, will remain stagnant for the next decade. That means that without B2B, revenues will be flat and massive investments in 5G will not fuel growth unless operators target enterprise opportunities, according to the report.

Ericsson predicts B2B can account for up to 35% of revenues by 2030 on top of the current scope of network operators’ business. “The 5G-IoT landscape offers enormous potential but is complex to navigate and demands a comprehensive understanding of the different driving forces and barriers for different industries in focus,” Ericsson explained in the report.

“The probability to be successful in capturing parts of this potential is higher in the next 5-7 years when roles and market shares are established rather than later,” the vendor added.

Ericsson has studied and identified more than 200 use cases across 10 different industries. Video services represents the greatest potential windfall, according to the report, generating up to $118 billion in total value by 2030.

Other industries that should be targeted by operators, according to Ericsson, include manufacturing, automotive, energy and utilities, public safety, health care, media and entertainment, public transportation, financial services, and agriculture. New use cases that will be enabled by 5G and drive new revenue for operators include real-time automation, connected vehicles, and augmented reality.