5G set to start a manufacturing sector boom

29 October 2019

According to new research, the global manufacturing sector is set for a 5G-inspired boom worth more than $700 billion by 2030.

The report, published by 5G leader Huawei and consulting firm STL Partners, outlines how the new generation of connectivity can grow manufacturing GDP by 4%. 

5G will reduce costs and unlock new income streams for the manufacturing industry, says the report, making it easier to monitor and analyse production in real-time, using far more data than has ever been possible before. 

This will help factories and production lines reduce machine downtime, cut down on wasted resources and minimise defective output. It can also help reduce the skills gap and improve health and safety. 

The report also finds the benefits of 5G will not immediately be felt equally around the world, with high income countries that already contribute the most to global GDP benefitting first, given they have the most money to reinvest in to adopting new technologies. However, as we reach 2030, this disparity and imbalance will start to be redressed.

The report challenges the manufacturing industry to build an understanding of 5G and its benefits, input into the development of common standards and regulation and look for ways to collaborate with telecoms operators. 

It concluded that, for the manufacturing industry to take advantage of the benefits of 5G, it will need to take an active role to make sure that 5G evolves quickly to include technological advancements that will support new use cases (i.e. those that require ultra-reliable low latency) and be deployed in (remote) areas close to manufacturing hubs.

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