The latest research results show that global 5G investment and R&D investment will increase by 10.8% over the forecast in 2019 in the next 15 years. According to the 2020 update of the "5G Economy" report commissioned by Qualcomm Technologies and independently researched by IHS Markit, despite the impact of the global economy on the epidemic, the number of jobs created by the global 5G value chain will increase to 22.8 million by 2035, higher than the 22.3 million forecast in 2019. IHS Markit attributes this growth to unprecedented demand for 5G network infrastructure and terminals, as well as a consensus that 5G will transform a wide range of industries. During the global pandemic, businesses, governments, and society have become more aware of the importance of connectivity technology, further accelerating this trend. The digital transformation of industries that usually takes years to complete is accelerating dramatically. Other key findings from the latest report include: By 2035, 5G will generate $13.1 trillion in global economic output. IHS Markit's latest forecast for global total output (sales) in 2035 was revised down by about 2.8% from pre-pandemic forecasts, and its forecast for global real GDP was revised down by 3.1%. In contrast, the updated IHS Markit report only lowered its forecast for 5G total output by about 0.6%, indicating that 5G, as the next-generation wireless technology, has great resilience and is bound to transform a wide range of industries. By 2035, the 5G value chain alone will generate $3.8 trillion in economic output, up from the $3.6 trillion forecast in 2019. Across the seven countries* highlighted in the report, 5G value chain companies will invest an average of more than $260 billion in combined R&D and capital expenditures per year (up from the pre-pandemic forecast of $235 billion). China and the United States are expected to lead in 5G capital expenditures and R&D investment, with the two countries investing $1.7 trillion and $1.3 trillion respectively over the 15 years covered by this study. Driven by smart city and smart agriculture deployment, 5G will create 6.4% of public service (government) output and 5.9% of agricultural output by 2035. According to IHS Markit's forecast, 5G will create 5.1% of global actual output by 2035. The proportion of output supported by 5G in different industries varies. For example, it accounts for as high as 10.9% in the information and communication industry and 2.3% in the hotel industry. The PDF version will be shared on 199IT Knowledge Planet, just scan the QR code below! |
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