5G to contribute $7.5 global GDP by 2030-Report

Not less than $7.5 trillion will be contributed through 5G-related initiatives to the Global Gross Domestic product (GDP) by 2030, ABI Research has revealed.

High-speed 5G connectivity, ABI research further stated, has opened infinite opportunities for businesses, resulting in productivity gains and operational efficiency, boosting economic growth by over $7.5 trillion in the next decade – compared to the $5.1 trillion 4G contributed in 2019.

Speaking at the Huawei 5G+,Better World summit, Dimitris Mavrakis, research director of ABI Research, expressed confidence 5G will drive future businesses across all sectors worldwide, Mavrakis said it is likely to be most beneficial to the commercial sector.

Mavrakis, however, admonished governments to provide opportunities for 5G to flourish within their countries by prioritizing efficient usage of public and private digital infrastructure and establishing a national approach to building skills in 5G.

5G networks are the next generation of mobile internet connectivity, offering faster speedús and more reliable connections on smartphones and other devices than ever before. It currently has three major variants: low-band, mid-band, and high-band, all of which perform very differently from each other. The most widespread version, low-band, operates and performs pretty much like 4G.