Global 5G consumer market seen at $31 trillion by 2030: Ericsson

New DELHI: The global 5G consumer market could be worth $31 trillion by 2030, a new report by Ericsson has estimated. The report also estimates that communications service providers (CSPs) could earn $3.7 trillion in the cumulative 5G-enabled consumer revenues by 2030.
“The 5G consumer market could be worth $31 trillion by 2030 globally”, said the report titled ‘Harnessing the 5G Consumer Potential’ from Ericsson ConsumerLab.
The report also predicted that CSPs could generate up to $131 billion by 2030 from digital service revenues alone, by proactively bundling and marketing 5G use cases.
“About 40 percent of these revenue projections are attributed to consumer spending on enhanced video, augmented reality (AR), virtual reality (VR) and cloud gaming over 5G networks,” it said.