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

The global 5G consumer market could be worth USD 31 trillion by 2030, a new report by Ericsson has estimated.

The report also estimates that communications service providers (CSPs) could earn USD 3.7 trillion in the cumulative 5G-enabled consumer revenues by 2030.

“The 5G consumer market could be worth USD 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 USD 131 billion by 2030 from digital service revenues alone, by proactively bundling and marketing 5G use cases.

“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,” it said.