Phi Trends: The business implications of 5G

Phi Trends: The business implications of 5G

The world today is very different to the one a decade ago, as rapid developments have facilitated a shift towards a new and highly digitalised ecosystem.

Constant innovation has further propelled global trade and business to new heights. Notably, global wireless technology has played a significant role in aiding this progress, specifically with the onset of mobiles using electromagnetic spectrums such as 2G, 3G, and then 4G. Now, the fifth generation of mobile networks (5G) is bound to set a new standard in wireless technology, far beyond anything one could have anticipated a few years ago. Its groundbreaking performance improvements are likely to guide the world economy through yet another potentially historic growth phase, as it has the potential to permeate and transform nearly all industries.

The adoption of 5G technology is anticipated to catapult us into Industry 4.0 with the projected economic impact anticipated to be phenomenal. Research shows that once 5G is fully deployed, projected by 2035, it could facilitate $13.2 trillion in global sales (5 per cent of global real output), and result in the generation of 22.3 million jobs across the 5G value chain, from OEMs, operators, content creators and app developers, to consumers.



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