5G Americas says next generation network technology will also support 22 million jobs globally by 2036
TOKYO–5G technology will enable $12.3 trillion in global economic output by 2035, Chris Pearson, head of industry trade group 5G Americas, said during a keynote presentation at the Global 5G Event, which took place in Tokyo, Japan, earlier this week.
By 2035, the global 5G value chain will generate $3.5 trillion in economic output and will support 22 million jobs globally, according to data from 5G Americas. “The 5G GDP contribution from 2020 to 2035 will be the size of the economy of India,” Person said.
According to Pearson, the benefits of the implementation of 5G technology will permeate every part of society and will offer the potential for huge cost savings in several industries across the globe. “5G technology will have the ability to affect almost everything in our lives,” the executive said.
According to 5G Americas, this technology will offer huge possibilities in key areas such as energy, transportation and smart cities in general, health and public safety.
“All involved parties must communicate, cooperate and work together when it comes to regulations and the 5G ecosystem,” the executive said.
The executive also said that global spending on internet of things (IoT) devices are forecasted to reach $1.7 trillion in 2020.
5G Americas is an industry trade organization composed of leading telecommunications service providers and manufacturers. The organization’s mission is to advocate for and foster the advancement and full capabilities of LTE wireless technology and its evolution beyond to 5G, throughout the ecosystem’s networks, services, applications and wirelessly connected devices in the Americas.
