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Friday, July 12, 2019

Will 5G be a game-changer?

5G is the next evolution in mobile networks. It offers far more than mobile calling and faster internet browsing: it is set to stimulate the emergence of start-ups and small businesses, and open the door to new products and services.

In April of this year, South Korea became the first country to adopt 5G on a large scale. By 2024, it is estimated that over 1.5 billion of us will be connected to 5G (Source: Ericsson).

According to a study from Qualcomm, by 2035, 5G could underpin up to US$12.3tn worth of goods and services in industries as diverse as retail, healthcare, education, transportation and entertainment. Qualcomm estimates the 5G value chain will generate up to US$3.5tn in revenue in 2035, support as many as 22 million jobs, and boost global GDP growth by US$3tn cumulatively from 2020 to 2035 – that’s roughly the equivalent of adding an economy the size of India to the world in today’s dollars.

A report from PSB Research, which surveyed over 3,500 people including business decision leaders, analysts and tech enthusiasts, found that as a result of 5G:

  • 91% expect new products and services that have yet to be invented
  • 87% expect new industries to emerge
  • 82% expect small business growth and more global competition
  • 85% expect it to make companies more globally competitive
  • 89% expect increased productivity.

Whilst it won’t happen overnight, 5G is set to transform businesses large and small by making them more efficient, extending capacity to do more in less time and with fewer resources - in turn, saving costs and increasing revenue.

To learn what 5G may be able to offer your business, and to discover how we can help your organisation’s IT systems and services be reliable, resilient and scalable, please contact us.

This article is a summary of an article originally published by MHA MacIntyre Hudson and published with their approval.

5G

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