We are on the brink of a major technological breakthrough
with 5G being introduced. It is going well in some of the countries but hasn’t come
to its full commercialization. The 5G network provides speed and reliability
over mobile data unlike ever seen before. It is a huge deal in Asian countries
such as South Korea, where it has been introduced. The people there are enjoying
its benefits and the demand for 5G has increased a lot.
With this technological advancement coming our way, it will
also have a significant impact on the global economy and this rise is expected
to be much more significant than any previous iterations. The researchers and
analysts suggest that the 5G internet technology will reach more than $13
trillion output worldwide by 2035.
Among the rise, China is expected to play a major role in
the economic gains whereas other Asian countries will also contribute to
majority of the economy. Public demand will be more than before as well and the
brands will look to increase the bandwidth as the 5G technology rises. The manufacturing
sector will be the most beneficial as operators are able to tune the production
up a notch and create new revenue streams as a result of global digitalization.
Infographic by: raconteur.com
