Nokia Says 5G Technology Will Add $ 8 Trillion To Global GDP

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This is stated by the Finnish telecommunications company in a report. He states that it is the key to success for companies.

Fifth generation (5G) mobile technology has the potential to contribute eight trillion dollars to the world economy by the year 2030, according to a study by the Finnish telecommunications company Nokia published on Monday.

According to this report, the COVID-19 pandemic has accelerated the digital investment of companies in the medium and long term, creating a global boom in this sector that will mean that 72% of large companies invest in technologies related to 5G for the next 5 years.

The Nokia study highlights that there is a clear correlation between the adoption of 5G and business performance, as companies with a more advanced level in this technology were the only group that experienced a net increase in productivity since the beginning of the pandemic. , of about 10%.

Also, 49% of companies in the most advanced phase of 5G, the expansion phase, grew in 2019 at a considerably faster rate than those in the earlier phases, according to Nokia.

“It has been categorically shown that 5G adoption drives business success. Organizations that have integrated 5G can benefit from benefits that go far beyond faster, more efficient and more reliable network services, “Gabriela Styf Sjöman, Nokia’s chief strategy officer, said in a statement.

In his opinion, companies must accelerate the deployment of 5G as soon as possible and accelerate the innovation of their business model if they want to take advantage of the tremendous opportunities offered by this technology and remain competitive in an increasingly digitized global economy.

The report, which compares the level of development of 5G in eight countries – Germany, Saudi Arabia, Australia, South Korea, the United States, Finland, Japan and the United Kingdom – reveals that Europe is lagging behind in the deployment of this technology in relation to North America and Asia.

Saudi Arabia already has 13% of companies in advanced stages of 5G deployment and the United States with 12%, while in Germany this figure is only 3%, in the United Kingdom it is 4% and in Finland it is 2%. %.

On a global scale, about 7% of large companies are in the expansion or implementation phase, the most advanced, and about half have an intermediate level in terms of 5G adoption.

According to the study, 86% of the executives surveyed have some kind of strategy for 5G business deployment, and more than a third fear being overtaken by the competition if they do not invest in 5G in the next 3 years.

However, currently only 15% of large companies are investing in its implementation and 29% are not planning any 5G investment in the next 5 years.

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