As 5G—the next generation of mobile connectivity—rolls out in coming years, it will create value in many industries and for society as a whole. Innovative uses of the technology show promise in a wide variety of settings: hospitals equipped with 5G devices that enable remote patient monitoring, and smart ambulances that communicate with doctors in real time; digital wallets that connect phones, wearables, cars and other devices to create seamless financial transactions; and 5G-enabled factories in which connections can be maintained among more sensors than ever before.

Such scenarios illustrate the economic impact of 5G mobile technology, which we measured through its ability to increase efficiency and productivity (see Methodology). This impact will be amplified by the fact that 5G isn’t just a faster version of 4G or Wi-Fi 6 with wider reach. Besides offering up to 100 times the speed and 1,000 times the capacity of today’s mobile networks, 5G will provide ultra-reliability, low latency, reduced energy use and massive connectivity both inside and outside of buildings. The result will be broadband that’s not just superfast but ubiquitous. Moreover, when 5G is used in combination with AI, extended reality (XR), edge computing and the Internet of Things (IoT), it will enable business and society to realise the full benefits of these other technological advances.

The size and nature of 5G’s economic impact will vary by industry and country.

In healthcare, for example, in a single-payer, taxation-funded system, the effect may be to free up government resources to spend on other programmes and possibly lower taxes. In a private insurance–based system, the efficiencies of 5G could enable consumers to reallocate spending to other sectors.