5G networks could add approximately $500 billion to US GDP – Accenture Strategy

Source: Accenture 2017Source: Accenture 2017

United States —

According to a new study commissioned by US cellular industry association CTIA and conducted by Accenture Strategy finds that the next generation 5G wireless networks could create up to three million jobs and add approximately $500 billion to US GDP through direct and indirect potential benefits.

The study also suggests that 5G will bring the full reality of Smart City solutions to municipalities across the United States, no matter what their size.

Mobile network operators are expected to invest as much as US$275 billion in the US over the next 7 years as they build out 5G network. The study estimates that the 5G initiatives may create 350,000 new construction jobs and around a further 850,000 jobs throughout the country via their suppliers and other partners leading to an additional 2.2 million jobs through the broader economic benefits from 5G but only if they are allowed to deploy effective and efficient networks first.

5G-powered smart city solutions applied to the management of vehicle traffic and electrical grids alone could produce an estimate of US$ 160 billion in benefits and savings for local communities and their residents.