The 5G Economy will Spur Massive GDP and Job Growth Across the US
WASHINGTON, Feb. 2, 2021 /PRNewswire/ -- 5G networks could create about 4.5 million jobs in the US and add roughly $1.5 trillion to the country's GDP, according to a new report from Boston Consulting Group (BCG), commissioned by CTIA, the wireless industry association.
BCG's analysis shows that 5G will contribute to US GDP and employment growth by enabling of innovation that will transform all sectors of America's economy across cities and communities of all sizes.
"Our analysis shows that the 5G economy's impact will be broad and deep, unlocking significant benefits across the US and enabling new use cases across all industries, including health care, education, and agriculture," said Enrique Duarte Melo, a BCG managing director and senior partner and lead author of this report. "The GDP growth and job creation that America's 5G networks are beginning to unlock will be instrumental in jump-starting the country's economic recovery."
BCG's research suggests that three industries, in particular, will benefit from these 5G use cases:
To bring these benefits to fruition, state, local, and federal governments must work to keep 5G's rollout on track. Delays in network infrastructure build-out or in making more licensed spectrum available would carry significant opportunity costs, according to BCG's analysis. At a national level, every six-month delay in 5G network deployment could, on average, mean missing out on $25 billion of the potential 5G benefits from 2020 through 2030.
A copy of the report can be downloaded here.
To arrange an interview with one of the authors, please contact Marcus Liem at +1 917 705 2844 or email@example.com.
About Boston Consulting Group
To succeed, organizations must blend digital and human capabilities. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives to spark change. BCG delivers solutions through leading-edge management consulting along with technology and design, corporate and digital ventures—and business purpose. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, generating results that allow our clients to thrive.
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SOURCE Boston Consulting Group (BCG)
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