The domino effect of 5G will be widespread and ultimately benefit the overall economy. Similarly, the consequences of not leveraging it correctly are immediate.
A pool table has a lot of balls of different colors, different values and different stakes. Success in the game relies on talent, finesse, and quick thinking. It’s all about aiming correctly and hitting the ball correctly.
When a country is juggling multiple balls such as healthcare, infrastructure, manufacturing, supply chain, agriculture, utilities, and waste management, there’s nothing like a well-timed cue ball.
5G enables new technologies such as IoT, AI, and automation, which can drive innovation in various fields. This increases productivity and efficiency. – Dr. SP Kochhar, Director General, COAI
With all its speeds, low latency, and application possibilities, 5G is exactly the catalyst the economy needs. Drones will fly over mines, soil images will be captured for farmers, factories will run with intelligent sensors, cities will become smarter with real-time data, and small businesses will be able to harness the power of connectivity and productivity. It will be. 5G Strike Click.
Moreover, India’s platforming edge, digital public goods, and the strong surge of Indian stack stars like UPI show that we are still early in the game. The real fun is about to be unleashed as India surprises the world with its digital masterpieces, waiting for the rest of the world to emulate.
5G is an event that is still on the horizon. However, the ripples will be felt in every corner of the economic sector. In a world of black swans and gray rhinos, it just might be the butterfly effect of the neon butterfly effect. Here’s why:
5G opens the door to industry-specific applications. – Said Peerzard Yotta, Vice President and Chief Cloud Officer
Called shot: billions, trillions
According to a report by PwC, 5G technology could increase global GDP by USD 1.3 trillion by 2030. The report also points out that: – By providing the foundation for ubiquitous, ultra-fast broadband, 5G opens up possibilities far beyond the reach of 4G and Wi-Fi.6 More than 80 percent of the economic potential lies in healthcare applications ( expected to contribute USD 530 billion to global GDP), smart utility management (another USD 330 billion), and consumer and media applications (more than USD 254 billion). . For 5G-enabled industrial manufacturing, the report pegs the figure at USD 134 billion, and for 5G-enabled financial services applications at USD 85 billion.
Another report, this one by Oxford Economics and Qualcomm, points out that the integration of 5G using mmWave spectrum could increase global productivity by 1.7 percent in 2030. I am. This corresponds to 10 percent of world productivity during this period. Two-thirds of executives who participated in the survey said 5G influenced their decision to implement IoT or cloud into their business.
Countries like India will greatly benefit from 5G-based FWA solutions and the fact that low-income groups can go online. I believe 5G will take India to the next level. India has the vision, the talent and understands the value of modern technology – John Strand, CEO Strand Consult
Going back to 2022, a report from Analysis Mason Erickson found that 15 countries (India also participated in the study) could benefit from GDP growth of between 0.3 and 0.46 percent through 2035, at a cost of It turned out to be 3 to 7 times more expensive than expected. -Profit rate. Interestingly, it was also observed that most countries are expected to generate overall economic benefits (GDP) that are three to seven times higher than the incremental costs associated with expanding insurance coverage. Also, 5G mobile broadband could generate consumer surplus of US$1-10 billion per country, and expanded coverage would add 20-30 percent consumer surplus.
As Forrester Principal Analyst Indranil Bandyopadhyay explains, we’ve already seen how cheap and accessible data can revolutionize the economy. “True and lasting digitization cannot happen unless we make data cheap. 5G and the edge will deliver solutions and industries to consumers, not the other way around (customers have to pursue solutions). (This has happened in many industries). The solution will find customers and make their lives easier. It will have a positive impact on the overall economy.”
Sayed Peerzade, Vice President and Chief Cloud Officer, Yotta, said the technological synergies of 5G Edge will serve as the foundation for digital transformation initiatives, enabling Indian companies to build innovative products, increasing scalability and flexibility. states that it can be achieved. “It also opens the door to industry-specific applications such as remote monitoring in healthcare and implementing smart manufacturing processes.”
5G and edge and IoT will contribute nearly $200 billion to the Indian economy. – Biswajeet Mahapatra, Principal Analyst, Forrester
If you ask COAI Director General Lt. Gen. SP Kochhar, he will explain how 5G could have a huge impact on the economies of countries including India. “The introduction of 5G is expected to drive significant economic growth. It will enable more efficient business operations and open up new markets, especially in digital services.” It also highlights areas such as infrastructure and innovation that can benefit from ripples. “The rollout of 5G will require significant infrastructure investments. This could lead to job creation and business opportunities in the telecommunications sector and related industries. It also has the potential to transform industries through enhanced IIoT capabilities. There is also.”
Biswajeet Mahapatra, principal analyst at Forrester, estimates that 5G, edge and IoT will contribute nearly USD 200 billion directly and indirectly to the Indian economy over the next five to six years.
The spread of 5G could attract foreign investment, stimulate job creation and boost GDP. – Pallav Agarwal, Founder and Director, HTS Solutions
The rollout of 5G in India is expected to have a transformative impact on the economy, said Pallav Agarwal, Founder and Director, HTS Solutions Private Limited. “Enhanced connectivity and high-speed data transfer will drive innovation and efficiency across sectors, driving digitalization and Industry 4.0. This will lead to increased productivity, improved infrastructure and the growth of emerging technologies. There is potential. We could see great advances in areas such as medicine, education, and agriculture.”
What’s the catch? The Scratch
The full potential of 5G will not be realized unless the right infrastructure and policy environment is in place. It is also the case if there is a gap in creating an application or use case and for that the case will take advantage of his 5G magic.
Beyond that, effective integration of advanced technologies such as 5G, edge computing, and cloud services relies heavily on specialized infrastructure design and architecture. As Dr. Kochhar points out, the economic impact will also depend on overcoming challenges such as the need for widespread digital literacy and ensuring equitable access across diverse socio-economic groups. He also considers how the high costs of deploying 5G and edge computing will be an issue. “Especially in uncertain economic conditions, there may be investor hesitation. This could delay the deployment and adoption of these technologies. The economic feasibility of 5G and edge technologies is a major concern. Infrastructure development and maintenance costs must be balanced against expected revenue generation and long-term benefits.”
As seen in all these crystal balls and whiteboards, 5G will be a game-changer for the Indian economy. “In the long term, 5G is expected to significantly contribute to the country’s GDP, strengthen its global competitiveness and improve the quality of life of its citizens. For India in particular, this represents a leap in technological capabilities and digital It could mean an improved global standing in the economy,” Dr. Kochhar added.
The spread of 5G could attract foreign investment, stimulate job creation and boost GDP. By providing faster and more reliable communications to businesses, 5G has the potential to propel India towards a more connected and economically dynamic future, Agarwal hopes.
And it’s happening right now. As we read these words. We must bravely look at both the power and the gaps of 5G. The game becomes even more interesting, thrilling and packed with new stakes and points. We don’t want to be left behind in the eight ball. Usually black.
Written by Pratima H
pratimah@cybermedia.co.in
