GSMA has predicted in its latest 2020 Mobile Economy global edition report that one in five mobile connections will be running on 5G networks by 2025.
The move owes itself to an expanding roster of 5G devices and growing awareness among consumers. According to GSMA, a total of 46 operators in 24 markets have launched commercially available 5G networks by the end of January 2020.
Mats Granryd, director general of the GSMA, said: “The mobile operator worldwide investment forecast will be more than a trillion dollars over the coming years, focused on rolling out advanced networks to serve both consumer and enterprise customers. Over the last 12 months we have seen the 5G ‘hype’ make way for reality: millions of consumers are already migrating to 5G, while enterprises are beginning to embrace 5G-enabled network slicing, edge computing and low-latency services.”
In 2019, mobile technologies and services generated 4.7% of GDP globally by contributing economic value of $4.1 trillion, which is likely to grow to $4.9tn by 2024. Additionally, 5G is forecast to contribute $2.2tn to the global economy by 2034, with key industries such as manufacturing, utilities, and professional and financial services benefitting the most from the new technology.
Last month, a paper from Omdia said that shipments of 5G smartphones will grow eightfold in 2020. It stated that the technology would play a key role in transforming the entire technology, media, and telecommunications industry as whole. It also predicts the worldwide 5G smartphone market to grow twofold in 2021, up from 29 million in 2019.
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