A new report looking into the future of the 5G ecosystem claims that the technology is set to generate A$10.2 trillion in economical value in 2030, as it becomes the connective tissue for a number of interlocked innovations and systems.
The State of 5G Report: Enabling the Boundless Generation from InterDigital and ABI Research looks into how the proliferation of 5G technology will see it fuel various industries.
“5G is now giving us a glimpse of what future generations will bring and what new types of applications and use cases it will enable, in both consumer and enterprise domains,” the report explains.
The adoption of 5G is outpacing every other type of cellular technology, in terms of both user take up, and operator rollout, the report finds.
A key reason for its swift take up is the success of the 3GPP alliance, the 3rd Generation Partnership Project. Seven standards organisations from the US, Europe, Japan, Korea, China, and India have worked in tandem to ensure the networks are built and implemented in a global fashion.
“The time we live in is an exciting inflection point for 5G and the way telecommunications networks are built and consumed,” said Dr. Rajesh Pankaj, Chief Technology Officer, InterDigital.
“As 5G deploys across the world, it’s helping to solve fundamental challenges, and laying the foundation for experimentation, new ideas, and innovation. At the same time, 3GPP and the 5G supply chain are continuously working to progress 5G even further.
“The early years of 5G have been foundational to its long-term success.
“Now is the time when we will experience and benefit from exciting new applications, new use cases and many more ways consumer lifestyles can be transformed.”
The use of 5G in advancing various fields such as energy and utilities, healthcare and manufacturing, will also see it become worth A$10 trillion by 2030.
“5G is now giving us a glimpse of what will be possible in the future and setting the foundation for the next generation of networks,” said Dimitris Mavrakis, Senior Research Director at ABI Research.
“The high capacity, high reliability and low latency capabilities of 5G are now starting to create the next wave of consumer and enterprise applications, in the very same way 4G seeded the creation of social networks, the collaborative economy and rich content.
“We are now in a very exciting technical era that will pave the way for 6G and future networks.”
