Releasing 5G mmWave capacity is expected to boost the global economy valued at $565 billion, says the GSM Association (GSMA). This figure will represent 2.9% of global GDP growth by 2034.
Regarding Sub-Saharan Africa’s GDP, 5G technology will contribute around $5.2 billion (R67 billion), and $970 million (R14 billion) in tax revenue by 2034, according to an economic study conducted by the Association.
It says while this economic growth points to a huge impact on developing economies in Sub-Saharan Africa, it will largely depend on the availability of access to a specific strand of radio waves, known as mmWave spectrum – band of spectrum between 30GHz and 300GHz, which can be used for high-speed wireless communications.
The GSMA indicates that 5G mmWave will impact many industries playing a key role in exciting new 5G use cases such as energy production, transportation, professional services, mining and healthcare, which all require this technology.
However, the report alerts that without adequate support and allocation of 5G mmWave spectrum, this economically-critical spectrum and the 5G services it will enable will be under threat due to a territorial dispute triggered by the space industry. Thus, the deployment of these essential 5G services may be delayed for up to a decade, it warns.