5G Could Add 2.3M Jobs In CA, Spur $25.3B GDP Growth Within 4 Years, Study Finds

San Diego CA

02 March, 2021

4:02 PM

Description

By Elizabeth Ireland, Times of San Diego March 2, 2021 California may see the creation of more than 2.3 million 5G-related jobs and $25.3 billion in GDP, according to a study released by Accenture, commissioned by San Diego-based Qualcomm. Researchers found 5G has the potential to create or transform 16 million American jobs generating up to $1.5 trillion in U.S. GDP between 2021 and 2025. In another Qualcomm-commissioned report, the IHS Markit 2020 5G Economy Study, data indicated 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." Times of San Diego is an independent online news site covering the San Diego metropolitan area. Our journalists report on politics, crime, business, sports, education, arts, the military and everyday life in San Diego. No subscription is required, and you can sign up for a free daily newsletter with a summary of the latest news.