The Impact of 5G: Creating New Value across Industries and Society
21 January, 2020
Going beyond theory for the future of 5G
In collaboration with the World Economic Forum (WEF) we have published a new whitepaper, Creating New Value across Industries and Society, outlining the ways to realize the large estimated economic output potential of 5G by taking a bottom-up approach through a use-case-driven analysis. You can view the full paper here.
Rolling out 5G is critical because it will enable unprecedented levels of connectivity, upgrading 4G networks with five key functional drivers: superfast broadband, ultra-reliable low latency communication, massive machine-type communications, high reliability/availability and efficient energy usage. Together, these defining features will transform many sectors, such as manufacturing, transportation, public services and health.
The economic and social value of 5G networks
The analysis of 40 sample use cases in a wide range of key industries within this paper establishes linkages between commercial and societal impact of 5G, discussing how the functional drivers of 5G could enhance the output of these use cases as 5G networks evolve.
What is clearly apparent is that there is significant economic and social value to be gained from the widespread deployment of 5G networks. Technological applications, enabled by a set of key functional features, will both facilitate industrial advances—improving their bottom line—and enhance city and citizen experiences.
However, to accelerate the adoption of 5G, new collaboration models among stakeholders are needed, along with clear methodologies to estimate the social value creation, which will enhance the business case for 5G. This in turn will require the development of new business models, particularly within the Telecommunications industry, a topic we have covered in our whitepaper Making 5G Pay.
The 40 use cases outlined in this paper clearly demonstrate that 5G is here, now
However, the transition to 5G networks can only be achieved when all stakeholders—citizens, the private sector, regulators, national governments and cities—collaborate to effectively address these issues. The insights and recommendations in this white paper aim to pave the way towards accelerating a global, sustainable and inclusive transition to 5G networks, creating significant economic and social value.
You can view the full paper here The Impact of 5G: Creating New Value across Industries and Society
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Hazem Galal
Partner, Global Cities and Local Government Leader, and Global Smart Mobility Co-Leader, PwC Middle East
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