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 5G to contribute $900 bln to Asian economy: GSMA
Economy

5G to contribute $900 bln to Asian economy: GSMA

Agency News

New Delhi, June 30 : Mobile network technology 5G will contribute almost $900 billion to Asia's economy over the next 15 years, forecasts the Global System for Mobile Communications Alliance (GSMA).

The latest Asia Pacific edition of the GSMA’s Mobile Economy series, published during the Mobile World Congress earlier this week in Shanghai, says that Asia’s mobile operators are set to invest $370 billion building-out new 5G networks by 2025.The world’s first nationwide 5G networks went live in South Korea earlier this year, and it is anticipated that 24 Asia Pacific markets will have launched 5G by 2025.China is currently testing 5G across all major cities and provinces ahead of commercial launches next year. It is forecast that 28 per cent of China’s mobile connections will be running on 5G networks by 2025, accounting for about a third of all 5G connections globally by this point.

"Although 4G still has plenty of headroom for growth across Asia, operators in the region are now investing billions of dollars in building advanced 5G networks that are providing an array of new services to consumers, improving industry and manufacturing, and driving economic growth," said Mats Granryd, director general of the GSMA.As a result, by 2025, around 18 per cent of mobile connections will be running on 5G networks.The report reveals that more than four in five mobile connections in Asia will be smartphones by 2025, up from 61 per cent in 2018.

Almost all new subscribers to be added in the region between 2018 to 2025 will come from six countries -- India, China, Pakistan, Indonesia, Bangladesh and the Philippines.
The GSMA predicted that mobile technologies and services in the Asia-Pacific region will generate $1.9 trillion by 2023, increasing from $1.6 trillion dollars, which was 5.3 per cent of the region's GDP in 2018.Last year, the mobile ecosystem in the Asia-Pacific region, directly and indirectly, employed more than 18 million people, and contributed 165 billion U.S. dollars to public sectors via general taxation, according to the report.

“As 5G becomes a reality, we call on governments and regulators in the region to actively shape a favourable business environment that encourages investment in advanced networks and allows operators to extend next-generation digital services to all Asia’s citizens.”The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with nearly 400 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organizations in adjacent industry sectors.(UNI)