5G could add 8 trillion dollars to global economy by 2030, says Nokia

Nokia and Nokia Bell Labs conducted research about the adoption of 5G and published the Nokia’s 5G readiness report, that contains info about barriers to adoption, regional survey of companies and reveals a “clear correlation between 5G deployment and business performance.”

Nokia said that 5G-enabled industries have a potential to add 8 trillion US dollars to the global economy by 2030 and that the COVID-19 pandemic might help “by accelerating digitization, particularly among the least digitally advanced industries.” Countries that have an “advanced level of 5G adoption were the only group to experience a net increase in productivity (+10%) following COVID-19, and the only group able to maintain or increase customer engagement during the pandemic.” A key reason for that is work for home, that’s more suitable for developed economies and places where you have good internet connection.

You can find more details in the official press release.