O2 have released results from a new study into the impact the 5G technology will have on the UK’s economic growth. Its findings have revealed that within 6 years of the rollout of 5G will be enough for the technology to outstrip the benefits of fixed fibre broadband.
The UK is set to reach a ‘tipping point’ by 2026, where the direct economic benefits of 5G rollout will beat that of fibre broadband.
National 5G infrastructure will directly contribute an additional £7 billion a year to the UK economy just six years from rollout – in 2026.
5G will deliver this economic impact almost twice as quickly as fibre broadband.
5G will also add an extra £3 billion a year through secondary supply chain impacts, boosting overall UK productivity by a total of £10 billion.
5G is expected will deliver economic benefits twice as fast as fibre
The added value of 5G mobile connectivity to the UK economy will also become apparent almost twice as quickly as fibre broadband. Despite rollout of fibre broadband already taking place and 5G rollout not scheduled until 2020, 5G will achieve the same economic benefits as fibre by the ‘tipping point’ year of 2026.
It is expected that the combined value of 4G and 5G connectivity will add £18.5 billion to the economy within the next decade.
CEO of O2 Mark evens has said “Mobile is the invisible infrastructure that can drive the economy of post-Brexit Britain. The future of 5G promises a much quicker return on investment than fibre broadband, and a range of unprecedented benefits: from telecare health applications to smarter cities to more seamless public services.”
““At O2, we are obsessive about customer need and delivering a best in class customer experience. But for individuals, businesses and communities to use mobile connectivity to its full potential, we need to set the right conditions to ensure a competitive and fair mobile marketplace. We need a sophisticated spectrum auction that encourages the quickest and fairest deployment of mobile spectrum, with a regulatory environment that delivers a level playing field for businesses and supports a competitive market for customers.”