GSMA Estimates 5G’s Potential To Add Billions To Global Economy

According to a new report launched today by the GSMA, unlocking spectrum for the mobile industry to deliver innovative 5G services across different industry sectors could add $565 billion to global GDP and $152 billion in tax revenue from 2020 to 2034. This is possible if governments provide necessary support to unlock mmWave spectrum for 5G services. GSMA Estimates 5G’s Potential To Add Billions To Global Economy.

5G Has the Potential to Add $565 Billion to Global GDP

In a new report, the Association said the industry has the potential to deliver 5G services across different industry sectors, improving access to healthcare; education; and mobility, resulting in the addition of $565 billion to GDP and $152 billion in tax revenue over the 15-year forecast period.

However, these results will rely heavily on government support to identify and harmonise sufficient mmWave spectrum for the industry, particularly at the next ITU World Radiocommunication Conference (WRC-19) scheduled to be held in 2019.

“mmWave” 5G will not only provide consumers with ultra-fast mobile broadband services including immersive entertainment but will stimulate a host of applications that will enable citizens and businesses to do tomorrow what they can’t do today. These innovations will include enhanced remote healthcare and education, industrial automation, virtual and augmented reality, and many others.

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