A telecom academy has predicted that 5G technology in China will drive 6.3 trillion yuan ($930 billion) of economic output by 2030.
Beijing’s China Academy of Information and Communication Technology said on Tuesday that the new generation of mobile networks will help digital industries reshape the landscape of economic development.
China’s digitisation drive will be made easier with more investment into Internet sectors, stimulating data consumption and improving national competitiveness, Xinhua news agency reported.
By 2030, 5G-related sectors will generate around 2.9 trillion yuan of economic value added and 8 million new jobs.
The world is in a “crucial period” of standards development for 5G and its application, the report said, calling for the government to help build Internet infrastructure and create a better business environment.
The world’s largest 5G test field has been built in Huairou district in Beijing, with the participation of industry giants including Ericsson, Huawei and Nokia.
The country’s major telecom operators plan to commercialise 5G mobile networks as early as 2020.
5G in India
A report from Ericsson said as 5G becomes increasingly integral to industrial businesses and digitalisation, the revenue from 5G-enabled digitisation in India will reach $25.9 billion by 2026.
The Indian operators can generate additional revenues of $13 billion or half of the stated potential if they take up roles beyond being connectivity and infrastructure providers to become service enablers and service creators.
Operator revenues from traditional services are likely to grow from $37 billion to $63 billion in India by 2026 owing to population growth, increased penetration and high GDP growth. 5G and 4G will be instrumental.
5G-enabled industry revenue potential for operators can add some incremental 20 per cent (or $13 billion) on top of the $63 billion.
The largest opportunity will be seen in sectors like manufacturing, energy and utilities followed by public safety and health sectors.
The 5G technology that is integral to the future of connected cars will enable over $2.4 trillion in total economic output across the automotive sector in 2035, according to chipset maker Qualcomm.