5G to generate $7 trillion by 2030
5G will generate US$7 trillion of economic value in 2030 as it fuels the proliferation of IoT devices from smartphones to consumer electronics to enterprise applications, a new report claims.
Research from InterDigital and ABI Research’s ‘The State of 5G Report: Enabling the Boundless Generation” indicates that the economic value of 5G is set to surge in the coming years.
5G is outpacing all previous generations of mobile technology and points to applications such as AR/VR and immersive content, enterprise-enabling features like low latency, deterministic networking and advanced internet use cases.
“5G is now giving us a glimpse of what will be possible in the future and setting the foundation for the next generation of networks,” said Dimitris Mavrakis, Senior Research Director at ABI Research.
“The high capacity, high reliability and low latency capabilities of 5G are now starting to create the next wave of consumer and enterprise applications, in the very same way 4G seeded the creation of social networks, the collaborative economy and rich content. We are now in a very exciting technical era that will pave the way for 6G and future networks”.
The report adds that the prospect for operators is increasingly promising as they witness the exponential rise of 5G and its growth opportunities, especially as 5G is set to support a wide range of revenue generating and mission-critical applications.
Operators continue to find ways to develop new and better features in support of the network performance capabilities needed to realise the potential of 5G networks and its economic benefits.
“The time we live in is an exciting inflection point for 5G and the way telecommunications networks are built and consumed,” said Dr. Rajesh Pankaj, CTO at InterDigital.
“As 5G deploys across the world, it’s helping to solve fundamental challenges, and laying the foundation for experimentation, new ideas, and innovation. At the same time, 3GPP and the 5G supply chain are continuously working to progress 5G even further.”
“The early years of 5G have been foundational to its long-term success,” Pankaj continues. “Now is the time when we will experience and benefit from exciting new applications, new use cases and many more ways consumer lifestyles can be transformed.”