A new study by Accenture, commissioned by the CTIA, has found that allocating internationally harmonized mid-band spectrum for 5G can unlock approximately $200B to America’s economy over the next 10 years.
The study also found that there is a risk of America's wireless industry limiting its 'future leadership of the global wireless ecosystem' if embracing 5G spectrum allocation is not fully supported. This could also impact adjacent industries that leverage wireless technology such as manufacturing, utilities, and others in the US.
According to the study, the US can secure its wireless leadership and achieve significant economic benefits by leading the adoption of internationally harmonized spectrum bands. Leading spectrum harmonization also benefits American consumers by lowering the cost of wireless products and services, accelerating the development of innovative 5G use cases and supporting the continued growth and development of trusted network infrastructure companies.
The study highlights that leading the adoption of key spectrum bands could drive up to $200B in U.S. economic growth over the next ten years. This includes more than $150B from new jobs, leadership in new industries, strengthening America’s export market and accelerating America’s global economic competitiveness. An additional $44B would come from taking advantage of economies of scale in network equipment and device production.
Meredith Attwell Baker, President and CEO, CTIA
As we saw at the World Radiocommunication Conference (WRC), the rest of the world is moving quickly to allocate significant amounts of internationally harmonized mid-band spectrum for 5G to meet exploding demand and build a foundation for future innovation and economic growth. To avoid becoming a wireless technology island and secure our economic competitiveness, it is critical that we move quickly to allocate more full power, licensed spectrum for 5G with global bands.
Tejas Rao, Managing Director, Accenture Cloud First Networks
Remediating its mid-band spectrum deficit will be imperative for the U.S. to fuel new sources of growth and innovation. Ignoring this opportunity now can jeopardize the wireless leadership it achieved in 4G, and in the early phase of 5G’s rollout. Taking calculated and swift action is necessary to position the U.S. at the forefront of wireless innovation and lay the foundation for future growth.
