Global 5G value chain expects to output US$3.5 tln by 2035

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Current 5G technology and products have been the most eye-catching innovations during the 2017 China Mobile Global Partners Conference.

Telecom operators, chipmakers and end-product manufacturers are all speeding up to prepare for the advent of the 5G era, Yicai.com reported.

“(The year) 2020 will be when 5G technology starts to be commercialized,” said Zhang Zhiwei, chief marketing officer at Ericsson.

Thus, companies like ZTE, Huawei, Ericsson and Nokia have already introduced transitional schemes, by applying some 5G technologies to the current 4G network to test for commercial use. 

From the network perspective, several US operators are applying for 5G licences, while three telecom giants in Japan are expected to invest 5 trillion yen (US$44.86 billion) in the area, aiming to provide 5G services from 2020.

According to a report released by IHS, by 2035, 5G will create US$12.3 trillion in economic output globally; basically equivalent to all US consumers’ full expenditure in 2016. 

Also, the global 5G value chain will generate US$3.5 trillion in output and create 22 million jobs. China will secure 9.5 million in jobs, far exceeding the US’s 3.4 million.

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