The 5G Economy: How 5G Technology will Contribute to the Global Economy
The printing press. The internet. Electricity. The steam engine. The telegraph. Each of these discoveries or inventions is part of an elite class of socio-economic mainsprings known as General Purpose Technologies (GPTs).
The IHS 5G Economic Impact whitepaper evaluates the potential of 21 unique 5G use cases that will affect productivity and enhance economic activity across a broad range of industry sectors. In addition, the paper examines the central role the 5G value chain will play in continually strengthening and expanding current mobile technology platforms and the contribution that G5 will make to positive, sustainable global economic growth.
Key findings include:
- In 2035, 5G will enable $12.3 trillion of global economic output. That is nearly equivalent to US consumer spending in 2016 and more than the combined spending by consumers in China, Japan, Germany, the United Kingdom and France in 2016
- The global 5G value chain will generate $3.5 trillion in output and support 22 million jobs in 2035. This figure is larger than the value of today’s entire mobile value chain
- The 5G value chain will invest an average of $200 billion annually to continually expand and strengthen the 5G technology base within networks and business application infrastructure
- 5G deployment will fuel sustainable long term growth to global real GDP. From 2020 t0 2035, the total contribution of 5G to real global GDP will be equivalent to an economy the size of India – currently the seventh largest economy in the world