5G connectivity

5G connection is boosting the global economy. Voice and connected worker use cases in industrial settings will be the primary drivers of the GDP growth as 5G allows automation and digitalization, even in extremely important use cases.

According to a study by the GSMA, 5G is expected to contribute $508 billion to the global economy by 2030. This growth will be driven by a number of factors, including the increased use of 5G in manufacturing, healthcare, logistics, entertainment, and education.

5G technology continues to develop, we can expect to see even more innovative and disruptive applications that will have a positive impact on our lives . Manufacturing operations are anticipated to provide over a third of the world’s GDP, followed by energy production, which includes mining and oil and gas, transportation, healthcare, and agriculture.

As 5G enables automation and digitization, even in highly critical use cases, this GDP surge will be driven by voice and connected worker use cases in industrial environments. Deployments within manufacturing are expected to account for almost a third of global GDP contributions, followed by energy generation, including mining and oil and gas, transportation, healthcare, and agriculture.

These numbers underscore the vast size of the opportunity and the transformative potential that 5G connectivity can have on global economic productivity – be it through the public macro-network, a dedicated network slice, or a private cellular network.

5G is perfectly capable of delivering on the key requirements. According to ABI Research calculations, a single factory, for example, can reduce its consumption by several thousands of kilowatt hours per year and save several hundred dollars by avoiding cable drops. At the same time, mines or oil/gas fields can increase their output by tens of thousands of dollars per year by avoiding production standstills by minimizing critical emergencies through condition-based monitoring.

Going forward, 5G will unfold its full transformative potential, technology providers must understand that enterprises are interested in solutions, not technologies.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA