At the crossroads of change: The 5G digital economy as a gateway to the future

Michaela Rysava

A chapter in CNB Global Economic Outlook - February 2023, 2023, pp 13-17 from Czech National Bank, Research and Statistics Department

Abstract: The roll-out of fifth-generation (5G) technology has huge transformation potential thanks to the digitisation of the economy. Three unrivalled features of 5G are crucial: its high capacity, its speed and its very low latency. As a result, the current 4G technology will gradually fall out of use globally and 5G will come to dominate, as indicated by long-term forecasts. If a suitable environment is created, 5G may become an economic driver, delivering a potential global GDP uplift of around a trillion dollars by 2030, with the 5G mid-band spectrum playing a major role. The biggest market players right now are North America, Europe and North-East Asia. The choice of 5G use cases will be important going forward, with manufacturing, healthcare, transport and public administration showing the most promise at the moment. However, the combination of 5G and other advanced technologies will also play a role, as will the advent of 6G in the longer term.

Date: 2023
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