5G consumer market could be worth $31tn by 2030: Ericsson

The fifth-generation (5G) cellular technology could drive up to $31 trillion in cumulative consumer revenue in the ICT industry globally by 2030, said a report by Swedish telecom gear maker Ericsson on Tuesday.The report estimates that communications service providers (CSPs) could earn $3.7 trillion of that total – a figure that could increase further as new adjacent digital services opportunities arise.

CSPs could generate up to $131 billion by 2030 from digital service revenues alone, by proactively bundling and marketing 5G use cases, according to the estimate.About 40 per cent of these revenue projections are attributed to consumer spending on enhanced video, augmented reality (AR), virtual reality (VR) and cloud gaming over 5G networks.