5G Could Create 16M Jobs Within 4 Years, According To Study

Press release from Qualcomm:

March 3, 2021

A study by Accenture released this week, and commissioned by San Diego-based Qualcomm, found that 5G has the potential to create or transform up to 16 million American jobs during the Biden presidency alone. The jobs could generate up to $1.5 trillion in U.S. GDP between 2021 and 2025.

In California, the state may see the creation or transformation of more than 2.3 million jobs and $25.3 billion in GDP.

In another study commissioned by Qualcomm, the IHS Markit 2020 5G Economy Study, researchers found that the growth trajectory of sales enabled by 5G remains virtually unchanged despite the COVID-19 pandemic.

IHS Markit attributed this increase to unprecedented demand for both 5G network infrastructure and devices, along with the realization that 5G will transform industries across the board, including health care and education. Digital transformation of industries that would typically take several years to complete are being accelerated dramatically.

“IHS Markit’s findings in their latest report confirm what we are seeing in the market -strong momentum in both the deployment of and demand for 5G around the world,” said Cristiano Amon, president, Qualcomm Incorporated. “Not only has 5G proven to be resilient in the face of the COVID-19 pandemic, it is proving to be the technology at the heart of the digital transformation across industries.”

This press release was produced by Qualcomm. The views expressed here are the author's own.