GSMA’s Mobile Economy 2020 report forecasts that by 2025 one in five mobile connections will use 5G networks. This rapid adoption is driven by a growing selection of 5G-capable devices and rising consumer awareness. As of January 2020, GSMA reports that 46 operators across 24 markets had commercially launched 5G services.
Mats Granryd, Director General of GSMA, commented that global mobile operator investments are expected to exceed one trillion dollars in the coming years as networks are upgraded to support both consumer and enterprise needs. He noted that in the past year 5G has shifted from hype to reality: millions of consumers are already upgrading to 5G, while businesses are beginning to adopt 5G-enabled network slicing, edge computing, and low-latency services.
In 2019, mobile technologies and services contributed 4.7% to global GDP, delivering economic value of $4.1 trillion. That contribution is projected to rise to $4.9 trillion by 2024. Over the longer term, 5G is expected to add $2.2 trillion to the global economy by 2034, with sectors such as manufacturing, utilities, and professional and financial services positioned to gain the most from the technology.
Research from Omdia released last month indicated that 5G smartphone shipments could increase eightfold in 2020, highlighting the significant role 5G will play in transforming the broader technology, media, and telecommunications industries. Omdia also forecasted the global 5G smartphone market to double in 2021 compared with 2019 levels, following a base of 29 million units in 2019.
Interested in hearing industry leaders discuss topics like these and share practical use cases? Consider attending the co-located IoT Tech Expo, Blockchain Expo, AI & Big Data Expo, Cyber Security & Cloud Expo, and 5G Expo World Series. Upcoming events in Silicon Valley, London, and Amsterdam bring together enterprise technology leaders to explore developments in 5G, edge computing, security, blockchain, and AI.