The 5G future is here. Years in the making, the long-buzzed-about fifth generation of wireless connectivity has become a reality, ushering in an era of radical new possibilities in many industries. Innovative use cases such as autonomous drones and smart city ecosystems promise increased efficiency and productivity for governments and businesses in a post-pandemic world, and pervasive benefits across the globe.
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We estimate that 5G technology will add US$1.3tn to global GDP by 2030.
As the rollout and adoption of 5G technology continue, innovative uses of advanced wireless connectivity will trigger an uplift in global GDP. How? Increased efficiencies and productivity will add value across sectors, an impact that can be quantified in economic terms. We estimate that 5G technology will add US$1.3tn to global GDP by 2030.
Predicted as the largest beneficiary of 5G, today's healthcare systems stand ready to use unprecedented wireless capabilities for vastly enhanced patient care. Innovations such as drone-delivered defibrillators and patient monitoring via wearables will contribute to better health outcomes, as 5G efficiencies add US$530bn to global GDP by 2030.
Smart utilities management is on the rise—and 5G is on board to deliver value in the form of monitoring, tracking and automation. As utilities shift towards renewable energy and digitisation of the grid, 5G's ability to connect large numbers of devices and sensors will further transform the sector and contribute US$330bn to global GDP by 2030.
For companies seeking to kick-start growth, 5G offers a route to reinvent industries and open up opportunities. 5G strategies that include new product offerings, telecom collaborations, and combinations with emerging tech such as AI and IoT have the potential to repair and reconfigure enterprises for a post-pandemic future.
“5G will be a key part of companies’ new operating environment and technology toolkit, but to realise the technology’s potential productivity and efficiency gains they’ll need a strategic approach.”
Global TMT Assurance Leader and Global Telecommunications Industry Leader, PwC Germany
