The cost of 5G deployment is expected to cost the global economy £2 trillion across all sectors by the end of 2020 according to a report.
This was the verdict made by working capital finance provider firm Greensill Research following research.
Greensill has said it will cost an estimated £760 billion to invest in the infrastructure upgrades required to support the rollout of 5G while it anticipates it will cost an additional £1.29 trillion to implement 5G across the global economy by the end of next year for the Internet of Things (IoT).
Greensill managing director and telecoms finance specialist Tony Wonfor says that the cost goes beyond just 5G deployment.
“This project is actually about funding the growth of the Internet of Things and industrial connection to that.”
“In the automotive industry, for instance, 5G will be important for tracking components through the supply chain and in to the manufacturing process, then right through to an end product that has connectivity beyond anything we have seen so far.”