5G could drive up to USD 31 trillion in cumulative consumer revenue in the ICT industry by 2030 Communications service providers (CSPs) could earn up to USD 3.7 trillion in cumulative 5G-enabled consumer revenues by 2030 Augmented Reality (AR) could drive more than half of all consumer spending on immersive media by 2030The 5G consumer market could be worth USD 31 trillion by 2030 globally, according to the new Harnessing the 5G Consumer Potential report from Ericsson (NASDAQ: ERIC) ConsumerLab. The report estimates that communications service providers (CSPs) could earn USD 3.7 trillion of that total – a figure that could increase further as new adjacent digital services opportunities arise. The report also estimates that CSPs could generate up to USD 131 billion by 2030 from digital service revenues alone, by proactively bundling and marketing 5G use cases. The report also projects that by proactively driving 5G consumer adoption, CSPs could gain 34 percent higher 5G average revenue per user (ARPU) by 2030. The new 5G Consumer Potential report builds on those insights through business potential forecasts, both for service providers and the larger ICT ecosystem.

Source: The Nation November 23, 2020 12:00 UTC