The roll out of the 5G cellular networks will have a positive impact on the economy and be worth as much as $12.3 trillion by 2035, according to research firm IHS.
Companies that offer 5G products and services could see $3.5 trillion in revenue by 2035 and create 22 million jobs, according to the report, entitled 5G Economy. The industry will invest up to $200 billion to lay the groundwork for 5G-related products and services.
The study, sponsored by chipmaker Qualcomm, reported that more than 90% of 3,500 business users surveyed predicted 5G capabilities will lay the groundwork for yet-to-be-invented products, services, and applications.
5G networks feature ultra-fast wireless network speeds of 10 Gbits/second and low latency, which are expected to serve as the backbone for emerging IoT applications and a new generation of services.