The market for 5G technologies and services that will use 5G is poised to generate $13.2 trillion in global sales activity by 2035, according to a new study from Qualcomm Technologies.
The study, commissioned by Qualcomm and performed by market research firm IHS Markit, has increased the total sales enablement from previous estimates due to the fact that there are more than 30 live 5G networks in deployment and more than 40 OEMs launching 5G-enabled devices, making it the fastest ever rollout of a cellular technology generation.
According to the study, the 5G value chain will support 22.3 million jobs in 2035 — more than three times as many jobs as it supports today. The 5G value chain will invest an average of $235 billion annually to expand the 5G technology base. In the U.S., cellular R&D and capital expenditures for 5G will grow to 27% average annual investment, followed by China with 26%.
“As I look back on the industry’s achievements over the past year, it is astounding the progress we have made in accelerating the rollout of 5G around the world,” said Cristiano Amon, president of Qualcomm. “I’m extremely proud to work for a company that makes big bets, early on, in laying the foundation for technologies as significant as 5G that will transform industries and enrich lives.”
IHS Markit said as part of its study that 5G will be the catalyst that thrusts mobile technology into a general-purpose technology that will impact anything from human and machine productivity to living standards around the world.
Learn more about Qualcomm’s 5G findings on the company’s website.
