5G IN CANADA: 5G and Related Technologies Could Deliver 16%, or $120 Billion, of Canada's GDP Growth by 2036, According to a New Report on the Socio-Economic Benefits of Fifth-Generation Wireless Technology – Yahoo Finance
Given the right conditions, the report finds 5G and 5G-enabled technologies will:
Increase economic growth across all sectors
Support growth in high-paying digital economy jobs
Reduce greenhouse gas emissions by up to 20%
Increase agricultural GDP by up to $3.5 billion
Build the productive capacity of rural economies
Improve health care system performance
Increase socio-economic participation among marginalized populations
VANCOUVER, BC, Nov. 17, 2022 /CNW/ – A new report, entitled “The Socio-Economic Benefits of 5G,” by Deetken Insight, a Vancouver-based management consulting company, provides a comprehensive review of published research about 5G, or fifth-generation mobile technology, and its potential socio-economic impacts, with a particular focus on Canada. The report, which is commissioned by TELUS, also provides an exhaustive overview of use cases for 5G and suggests what steps government, mobile network operators, and other industry stakeholders should take to accelerate the successful deployment and adoption of 5G.
Key findings from the report include:
5G and related technologies could deliver an estimated 16% of Canada’s GDP growth by 2036. 5G and the innovation it enables will create economic growth through increases in productivity, the efficiency with which inputs are used to create economic value. 5G will enable real GDP growth in Canada of $30 billion to $50 billion by 2030 and $100 billion to $120 billion by 2036. 5G is a central solution to Canada’s long standing productivity challenge.
5G and related technologies will help reduce greenhouse gas emissions by up to 20% and deliver other non-economic benefits, such as more sustainable agricultural practices. Other non-economic impacts include more effective and efficient health care service delivery and higher agricultural productivity to feed a growing global population.
5G will help reduce digital divides impacting rural and other socio-economic communities. 5G-enabled fixed wireless access (FWA) will allow network operators to deliver wireless ultra-high-speed broadband internet to homes and businesses in rural and remote regions where last-mile fibre is unfeasible.
5G technologies will unlock fundamentally new sources of value across all sectors of the economy. Whereas 4G enhanced the consumer experience and delivered benefits mostly to industries that served smartphone devices, 5G promises improvements to health, agriculture, energy, government, and other sectors. It also enables technologies such as autonomous vehicles, remote-operated robots, virtual and augmented reality, artificial intelligence, and machine learning to be deployed safely and with precision in urban and remote locations.
5G could increase agriculture GDP in Canada by $2.7 billion to $3.5 billion, while reducing the industry’s carbon footprint by at least 10%. The agriculture sector needs to increase output to meet domestic and foreign demand while reducing its carbon footprint and other environmental impacts, such as watershed and soil quality, and becoming more resilient to climate change. Without access to 5G and connectivity, especially in rural areas, Canada’s agriculture industry will be unable to meet these challenges – from improving yields to reducing GHGs.
Canada is lagging its peers in the roll-out of 5G. Despite its market-leading performance in 4G, Canada’s 5G spectrum allocations for mid- and high-band frequencies are years behind leading countries such as U.S., Germany, Japan, Italy, Australia and South Korea.
A national digital infrastructure strategy and three-year roadmap to accelerate 5G deployment and adoption are urgently needed. The Canadian government and industry stakeholders should prioritize providing timely access to 5G relevant spectrum across all bands and supporting the adoption of 5G-enabled services to test new services and scale training programs for digital skills.
“Our research finds that 5G will provide the network foundation for the next generation of digital technologies and services that will advance Canada’s standard of living and help address key challenges, including climate change,” said Julian Whike, Partner at Deetken Insight. “There is a compelling value case for robust nationwide 5G networks. Given the right conditions, 5G and 5G-enabled technologies could deliver an estimated 16% of Canada’s GDP growth by 2036, reduce GHG emissions and deliver numerous other benefits. An ambitious yet coordinated approach to the rollout of 5G is critical to ensure we achieve these benefits while also ensuring Canada’s 5G networks and the applications that run on them are reliable and resilient.”
“From reducing the amount of GHG emitted into the atmosphere to improving the yield of farmers’ crops to using remote controlled nano-bots in surgery, the Fifth-Generation of wireless technology has the potential to fundamentally improve the way the world operates,” said Tony Geheran, Chief Operations Officer, TELUS. “If Canada wants to solidify itself as a global competitor in the race for 5G, we must have all stakeholders on board, including the government. Without a clear roadmap in place, we risk falling behind on the rollout of critical infrastructure to support the functioning of these key applications. We believe that a successful rollout of 5G infrastructure could be the backbone of the Canadian economy for the next decade to come.”
To obtain a free copy of the full report undertaken in partnership with TELUS, visit https://deetken.com/socio-economic-impacts-of-5g/.
About Deetken Insight
Deetken Insight is a management consulting firm headquartered in Vancouver, B.C. We focus on solving complex and sensitive business problems using a small-team approach, analytical techniques, and an emphasis on providing customized solutions that deliver lasting value for our clients. Our team comprises highly skilled individuals with advanced degrees in economics, computer science, math, engineering, finance, and business. Our clients include many government ministries, Crown corporations and other broader public sector entities, and private sector companies. For more about Deetken Insight, visit https://deetken.com/insight/.
SOURCE Deetken Insight
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