5 sectors with the greatest benefit from 5G technology
PwC published the report “The global economic impact of 5G - Powering Your Tomorrow”, where it estimates the contribution of this technology to the world GDP at US$1.3 trillion in 2030.
According to the study, the United States (US$484 billion), China (US$220 billion) and Japan (US$76 billion) will have the greatest growth in activity with the applications of 5G technology, due to the size of their economies and the robustness and modernity of their production systems. In Europe, Germany will be the biggest beneficiary, with a positive impact of US$65 billion.
More than half of the economic impact of 5G in the world will be produced by its application in the health and social care sector. The rapid growth of telemedicine, remote care, transporting medical equipment and drugs with drones, and continuous, real-time communication between doctors and patients (which will help reduce hospital stays) are some of the applications of 5G in this area.
In the smart utilities sector, the analysis highlights how the application of 5G in this sector will contribute with US$330 billion to the world GDP in 2030, due, among other factors, to smart meters and energy supply networks that lead to a more rational energy use, an improvement in waste management through digital monitoring and a reduction in water leakage with the implementation of sensors.
Through mobile connectivity, 5G will also enhance the media consumption experience. The application of this technology will contribute US$254 billion to the world's GDP by 2030 and can improve real-time marketing and consumer relationships and enhance the benefits of online gaming.
The study also reveals that, with 5G, industrial machines do not necessarily need to be fixed in a specific location, due to its large wireless connectivity capacity and greater flexibilityfor manufacturers. It will also be possible to incorporate robots and autonomous vehicles in industrial environments, offering intelligent, safe, efficient and reliable transport. All of this will make it easier to customize products to meet specific requirements with greater quality, scale and speed at lower cost and also reducing manufacturing defects, factors that will add US$134 billion to the world GDP in 2030.
Finally, the application of 5G in services will drive global growth by US$86 billion, as new mobile technology will improve the customer experience as well as reduce fraud losses by advancing security, through, for example, the facial recognition.
In addition, the impact of 5G on the Portuguese economy will be tremendous: EUR 17 billion in economic growth until 2035, according to a study by Deloitte.
