SOURCE: Qualcomm
DESCRIPTION:
Perseverance in technological innovation is contributing to a timely economic recovery and will continue to drive prosperity in a post pandemic era. 5G is vital to this evolution. 5G advances mobile from connecting people-to-people and people-to-information, to a unified connectivity fabric connecting people to everything.
Long term 5G global economic enablement
IHS analysis shows the integral role 5G will take on in the global economy in terms of sales enablement across all industries, and 5G-value chain related output and jobs by 2035.
Enabling a broad set of industries.
The growth trajectory of sales enabled by 5G remains virtually unchanged, reaching $13.1T in 2035, despite the downshift in the long term growth trajectory of the overall global economic output caused by the pandemic.
Jobs supporting a thriving value chain.
5G-enabled job growth is forecasted to be greater than previously expected - up from 22.3 to 22.8M over the 15 years by 2035.
Driving global GDP growth.
Global 5G CAPEX and R&D is up 10.8% from last year's forecast to $265B annually over the next 15 years.
Near term 5G growth and transformation
The Accenture analysis takes an immediate perspective as 5G connectivity accelerates in the United States and Europe between 2021 and 2025. Each industry will be uniquely transformed. 5G will impact industries creating new products and revenue streams.
Manufacturing
- 20%- 30% potential overall productivity gains
- 50% improvement in assembly efficiency
- 20% increase asset life
- 90% defect detection
Automotive
- 80% reduction of vehicle accidents
- $3.6 billion savings in repair costs
- 25% reduction in traffic
Healthcare
- 30% cost savings in transition to remote-home based models
Agriculture
- Improved connectivity and digitization can yield up to 25% increased productivity
- 30% decreased inputs, 20% decreased costs
- 15% increased crop yields
KEYWORDS: NASDAQ:QCOM, Qualcomm, 5G
