MYLOGO

A prediction for the economic impacts over a 15 year span from 2020 to 2035 of 5G by the IHS suggest, following its predicted implementation of 2020, there will be an economic output of $12.3 trillion; that's more than the total consumer spending of Japan, China, France, Germany and the UK in 2016.

22 million jobs and a generated output of $3.5 trillion in 2035 will come of 5G. This is roughly the equivalent of the combined generated revenue of the top 13 countries of the 2016 Fortune Global 1000. 

Between the years 15 years from 2020 to 2035, it is predicted that there will be a contribution to real global GDP that is equivalent to the 2017 seventh largest economy, India, by 5G.

While each successive generation of the mobile network technology (1G, 2G, 3G etc.) has improved text messaging, internet connectivity and speeds, reports suggest that 5G will offer more.

New markets like Virtual and Augmented reality (VR and AR), Mission Critical Services (MCS) and the Internet of Things (IoT) will be able to be supported by the new 5G with ease.

It is predicted that by 2021, 1 year after the proposed launch, that as many as 100 million 5G phones will have been sold across the world. Almost 1 in every 75 people will have a 5G have a 5G connected phone. It is predicted that 40 million of these will be sold within North America, 25 million in China, 15 million in Europe and the remaining 20 million in the Asia-Pacific region. Currently in the world over 1 billion 4G handsets have been sold as of 2016. 5G.co.uk stated that: 'By 2021, smartphones will account for 92 percent of the total mobile phone market.' 

The VP forecasting at CCS Insight, Marina Koytcheva, stated: 'The mobile phone continues to power one of the most vibrant sectors of the consumer electronics market. Although total shipment volumes will remain largely flat over the next five years, the proportion of smartphones continues to grow and the technology landscape is changing rapidly'