Nokia report says 5G could add $8 trillion to global GDP by 2030

October 20, 2020


Nokia’s recent 5G Business Readiness Report surveyed more than 1600 tech decision-makers from 8 markets and its results describe various stages of 5G maturity. 

  • The overall results indicate a positive tendency – about half of the surveyed companies are currently in an “expansion” phase of developing 5G. They have successfully implemented 5G, measured its impact, and are looking towards increasing its output. Of the remaining respondents, the majority are in an “implementation” phase of 5G.
  • Speaking of investments in 5G, 86% of the respondents stated that they have a strategy for 5G in place. However, only 15% of those polled were currently making investments and more than a quarter of respondents said they’re not planning to invest in the upcoming five years.
  • When asked about obstacles in adopting 5G and making investments, the most common answers were lack of awareness, high costs, the complexity of implementation, lack of available ecosystem, limited availability of essential infrastructure outside urban areas.
  • 5G adoption significantly fuels businesses’ success, as the organizations benefit from broad advantages that come with access to the 5G network. Moreover, society’s future and present challenges from climate change to pandemics can be undertaken more effectively with the possibilities unleashed by 5G.
  • Some of the catalysts that can facilitate wider adoption of 5G: infrastructure investments, subsidies by governments for reducing costs, raising awareness, and improving the understanding of the global benefits of 5G.

Read the full article by James Bourne on Telecoms Tech News here

The 5G Techritory Forum is honored to have Nokia participating in this year’s event. The telecom vendor will be represented by several speakers such as Hilary Mine (VP and Market Unit Leader for Nordics, Baltics, and Benelux), Leslie Shannon (Head of Ecosystem and Trend Scouting), Olli Liinamaa (Ecosystem Manager), and others. Nokia representatives will discuss the 1st year of 5G from the vendors’ perspective, speak about trends influencing 5G, the 5GVIIMA project, and more.