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The impact of 5g on global economy From PWC

The following is the The impact of 5g on global economy From PWC recommended by recordtrend.com. And this article belongs to the classification: 5g industry, global economy , PWC.

PwC released a new report “5g’s impact on the global economy”. Over the years, 5g’s commitment has been echoed throughout the business world. 5g’s faster speed, lower latency and the ability to connect far more than previous generations of mobile technologies give executives a more efficient and productive future. 5g provides the foundation for ubiquitous ultra fast broadband, and provides the possibility of 4G or Wi Fi 6 far beyond its ability.

With the rapid adoption and promotion of 5g, we can start to quantify the potential impact of the technology from an economic perspective. With expert insight and economic models, PwC assessed the impact of 5g on the global economy, especially in the five sectors of healthcare, smart utilities, consumer and media, industrial manufacturing and financial services. These industries will benefit significantly from 5g technology, and the report also calculates the benefits by 2030.

More than 80% of the economic potential lies in healthcare applications (estimated to contribute US $530 billion to global GDP), smart utility management (US $330 billion), and consumer and media applications (US $254 billion). Research shows that, with a small contribution from other industries, 5g will generate $1.3 trillion in global GDP.

As leaders look forward to the next decade, 5g strategy needs to focus on where and how to create competitive advantage, as well as the necessary conditions for realizing and integrating value creation.

At the regional level, North America’s GDP will benefit the most from 5g, followed by Asia and Oceania, and then Europe, the Middle East and Africa (EMEA). In absolute dollar terms, North America will also rank the highest, and Asia and Oceania are expected to surpass Europe, the Middle East and Africa because of their large overall economic scale.

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