TALKING BUSINESS
Notably, the study indicates that 5G
will catapult mobile into the exclusive
realm of General Purpose Technologies,
like electricity and the automobile that
provide the foundation for massive
innovation, give rise to new industries
and benefit entire economies. This will
happen as 5G advances mobile from a
set of technologies connecting people
to people and information to a unified
fabric connecting people to everything.
“I’ve spent many years studying
the impact of general purposes
technologies, and it’s clear that
5G will propel mobile into that
category, assuring the technology’s
long-term impact on society and
continued growth for decades,” said
Dr. David Teece.
Q
ualcomm has announced
that its subsidiary, Qualcomm
Technologies, commissioned
and released a landmark study, The
5G Economy, examining the potential
economic and social impact of 5G
around the world. The study was
conducted jointly by research firms IHS
Markit, PSB and economist Professor
Dr. David Teece, Director of the Tusher
Center at the Haas School of Business,
U.C. California, and principal executive
officer of the Berkeley Research
Group (BRG).
The 5G Economy includes an economic
impact study conducted by IHS Markit
and validated by Dr. David Teece, as
well as opinion research about the
expectations for 5G among business
and technology leaders carried out by
PSB. The combined findings of the study
show how 5G will profoundly affect
the global economy and that business
decision makers in technology and other
industries overwhelmingly believe in the
transformational nature of 5G.
“These respected researchers confirmed
our strong belief that 5G will be a
fundamental game changer,” said
Qualcomm CEO Steve Mollenkopf.
“We have been hard at work helping
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INTELLIGENTCIO
THE 5G VALUE CHAIN
ITSELF IS SEEN AS
GENERATING UP TO $3.5
TRILLION IN REVENUE
IN 2035, SUPPORTING
AS MANY AS 22 MILLION
JOBS. OVER TIME, 5G
WILL BOOST REAL
GLOBAL GDP GROWTH BY
$3 TRILLION DOLLARS
CUMULATIVELY FROM
2020 TO 2035, ROUGHLY
THE EQUIVALENT OF
ADDING AN ECONOMY
THE SIZE OF INDIA TO
THE WORLD IN TODAY’S
DOLLARS
create some of the key technologies
and applications that will make 5G a
reality, pushing the boundaries of LTE,
collaborating with industry leaders,
and spearheading the critical research
behind the next-generation global
wireless standard.”
Economic growth foreseen
According to the study, in 2035, when
5G’s full economic benefit should be
realised across the globe, a broad range
of industries – from retail to education,
transportation to entertainment, and
everything in between – could produce
up to $12.3 trillion worth of goods and
services enabled by 5G.
The 5G value chain itself is seen as
generating up to $3.5 trillion in revenue
in 2035, supporting as many as 22
million jobs. Over time, 5G will boost
real global GDP growth by $3 trillion
dollars cumulatively from 2020 to
2035, roughly the equivalent of adding
an economy the size of India to the
world in today’s dollars.
Complementing the economic study,
polling research done by PSB confirms
that business decision makers and
opinion leaders around the globe
expect 5G to bring widespread benefits
for society and the economy overall,
enabling new products and services,
increasing productivity and allowing
for new industries to emerge. Over
90 percent of the more than 3,500
respondents agreed that 5G will enable
new products, services and use cases
that have not been invented yet.
For an in-depth look at the study,
please visit: https://www.qualcomm.
com/invention/5g/economy
www.intelligentcio.com