How and when will 5G affect the global economy?
A: 5G is driving global growth.
• $13.1 Trillion dollars of global economic output
• $22.8 Million new jobs created
• $265B global 5G CAPEX and R&D annually over the next 15 years
Through a landmark 5G Economy study, we found that 5G’s full economic effect will likely be realized across the globe by 2035—supporting a wide range of industries and potentially enabling up to $13.1 trillion worth of goods and services.
This impact is much greater than previous network generations. The development requirements of the new 5G network are also expanding beyond the traditional mobile networking players to industries such as the automotive industry.
The study also revealed that the 5G value chain (including OEMs, operators, content creators, app developers, and consumers) could alone support up to 22.8 million jobs, or more than one job for every person in Beijing, China. And there are many emerging and new applications that will still be defined in the future. Only time will tell what the full “5G effect” on the economy is going to be.
Where is 5G being used?
A: Broadly speaking, 5G is used across three main types of connected services, including enhanced mobile broadband, mission-critical communications, and the massive IoT. A defining capability of 5G is that it is designed for forward compatibility—the ability to flexibly support future services that are unknown today.
Enhanced mobile broadband
In addition to making our smartphones better, 5G mobile technology can usher in new immersive experiences such as VR and AR with faster, more uniform data rates, lower latency, and lower cost-per-bit.
5G can enable new services that can transform industries with ultra-reliable, available, low-latency links like remote control of critical infrastructure, vehicles, and medical procedures.
5G is meant to seamlessly connect a massive number of embedded sensors in virtually everything through the ability to scale down in data rates, power, and mobility—providing extremely lean and low-cost connectivity solutions.