Italian media: 5G will bring 210 billion euros in revenue to Europe

According to the latest research by research firm Analysys Mason, the full promotion of 5G will have a positive impact on Europe. It will not only bring 210 billion euros in economic benefits to Europe and support Europe's post-epidemic economic recovery, but also further promote global post-epidemic economic recovery and digital transformation.

What fields will be promoted by 5G? Smart manufacturing and smart rural areas will benefit the most

According to reports from Italy's 24 Ore Sole and ANSA, according to the latest "European 5G Action Plan Survey" released by Analysys Mason, the cost of building 5G infrastructure in Europe is estimated to be about 46 billion euros, while the economic benefits brought by 5G can reach 210 billion euros, which is 4 to 5 times the investment.

The agency predicts that the net benefits of the 5G industry to Europe can reach 161 billion euros, equivalent to a net income of 19 euros per person per year in Europe. The agency focuses on the "money" prospects of 5G development in four industries: smart manufacturing and logistics, smart rural areas, smart cities, and smart public services. With the help of 5G, smart manufacturing and smart rural areas will obtain the greatest net benefits, generating net profits of 70 billion euros and 55 billion euros respectively, and will further promote the development of application scenarios such as smart factories, smart agriculture, and smart networks.

The survey shows that the economic benefits of 5G to Italy will exceed 14.2 billion euros, while the expenditure on implementing 5G infrastructure will be approximately 6.6 billion euros.

Among them, smart manufacturing and logistics, and smart rural areas are considered to be the areas with the most advantages in 5G development, while the smart public service cluster has the highest cost-effectiveness ratio of 5.7. This means that for every 1 euro invested in digitalization in areas such as health, education, tourism and construction, Italy generates about 6 euros in economic benefits.

Europe's economic restart plan must be equipped with sufficient resources for 5G development

Emanuele Iannetti, head of Ericsson Italy, said: "5G shows every sign of being an important platform for open innovation, essential to supporting an inclusive economy, promoting economic recovery in the post-epidemic era, and accelerating the digital transformation of industry and public administration."

Ianetti also said, "At present, Europe and Italy are formulating plans to restart the economy. Therefore, sufficient resources must be allocated to the development of 5G to promote the rapid implementation of related construction and further promote the development of 5G-related industries. We cannot miss the cost-benefit ratio of 5G investment."

In addition, 5G will play an important role in public administration. For example, data from millions of online connected devices can be used to make better decisions, further reducing expenditure, waste and energy consumption. The education and cultural industries will usher in new transformative technologies, and platforms and operators will benefit from them. 5G will help promote the development of virtual reality technology, which will provide immersive experiences in areas such as teaching, learning and promoting European cultural heritage.

5G brings development opportunities to various fields. China's accelerated 5G development will benefit the world

According to Ericsson's latest report, by the end of 2020, the number of 5G users worldwide will reach 1 billion. In terms of 5G investment and services, this means at least 220 million contracts will be generated, of which 175 million contracts will be generated in China, accounting for about 80% of the total. Six years later, the number of 5G users worldwide will reach 3.5 billion, and the amount of mobile data will account for more than 50% of the world.

Currently, while 5G networks are covering wider areas of the world, they are still far from being appreciable. By the end of this year, the 1 billion users who will benefit from 5G will only be equivalent to 15% of the world's total population, while by 2026, this proportion will reach 60%.

Italian media pointed out that China's accelerated 5G development will benefit the world. At present, China is in the leading position in 5G infrastructure construction and smartphone sales. By the end of this year, the number of 5G users in Europe will only account for 1% of the total users.

Ianetti said that the European connectivity strategy may be more important in 2020 than at any other time, because the pandemic has made the whole society take a big step towards digitalization. The same is true in terms of culture. It is now necessary to work hard to eliminate any obstacles and uncertainties that prevent operators from making large-scale and rapid investments in 5G networks. The development of 5G will bring development opportunities to various fields, benefit related companies and all mankind, and have a positive impact on global economic recovery, digital transformation and environmental governance.