GSMA: 5G's contribution to the global economy could reach $2.2 trillion by 2034

GSMA predicts that 5G will contribute $2.2 trillion to the global economy by 2034, with key industries such as manufacturing, healthcare, transportation, utilities, retail, financial services and the public sector benefiting the most from new technologies in digital transformation, Industry 4.0 and Enterprise 4.0.

Asia Pacific is a huge market, and 5G is not evenly distributed. North Asia and Oceania have pioneered 5G. Other regions need more support, including education industry, ecosystem development, innovation, and proper publicity.

At the Asia-Pacific 5G Industry Forum held in May 2021, more than 900 people registered and more than 600 attended, from more than 35 countries, involving governments and institutions, analysts, consulting and industry associations, mobile operators, enterprises and solution providers. In a post-event survey, more than 80% of the participants agreed to establish an Asia-Pacific 5G Industry Community as a collaboration platform to support innovation, applications and business opportunities in the 5G industry.

The Asia-Pacific 5G Industry Community consists of 12 contributing members as well as the existing Internet of Things Community and the 5G Emerging Markets Community, with more than 500 members in more than 30 countries.

The community and vertical interest groups aim to provide a platform for people who are passionate about the benefits 5G can bring to industries and businesses to connect with peers, share their knowledge, needs, and build an ecosystem to support each other to drive APAC businesses forward with new technologies.

Contributing members of the Asia Pacific 5G Industry Community include AIS, Axiata, DEPA, DHL, Globe, Huawei, Kominfo, Maxis, MDEC, Schneider Electric, Telkomsel and Viettel.