5G transformative for UK plc, but potential impacts still vague
5G mobile technology looks set to transform the UK economy for the better, but the immaturity of the technology and lack of standards makes its true impact harder to judge.
The effect of 5G Mobile Networks on the UK economy is potentially transformative, even though standards remain largely undefined and potential impacts are therefore hard to quantify.
Mobile broadband was associated with a number of positive benefits for the economy. At a high level, these would include higher GDP and employment – a 2012 report by EE by Capital Economics suggested 4G would give the UK an annual 0.5% GDP bump.
When it came to 5G, the need to develop an approach to the new standard that would help the UK realise the potential of the technology.
Further development of the technology, deployment scenarios and potential use cases will help aid precision in the quantification of these impacts.
As definitive standards are established and commercial deployments begin to materialise, tangible use cases with quantifiable benefits will become clearer. The availability of 5G technology, alongside associated technologies and devices, will allow for testing of use cases and proof-of-concept on a much wider scale.