PwC: By 2030, 5G will contribute $1.3 trillion to global GDP growth

On February 10, foreign media reported that a report recently released by PwC showed that the productivity and efficiency improvements brought about by 5G applications will drive changes in business, skills and services by 2030, contributing $1.3 trillion to global GDP.

The report states that 5G's speed, reliability, reduced energy consumption and massive connectivity will have a revolutionary impact on businesses and the wider society, making ultra-fast broadband ubiquitous. Combined with investments in artificial intelligence and the Internet of Things, 5G can serve as a platform for businesses and society to realize the full benefits of emerging technological advances.

The study expects economic gains to be realized across all economies as 5G has the potential to rethink business models, skills, products and services, with gains accelerating from 2025 as 5G adoption becomes more widespread.

According to the study, the United States ($484 billion), China ($220 billion) and Japan ($76 billion) will see the biggest boost from the use of 5G technology due to their economic size and strong modern industrial production sectors.

5G is more than just mobile connectivity. It offers new perspectives for improving productivity and rethinking entire business models for the future. As the COVID-19 pandemic accelerates digitalization in many sectors, 5G will be a further catalyst. It is certain that the technology will become a fundamental part of our social infrastructure and a platform to drive national economies, new business models, skills and industry competitiveness.