China’s 5G market set to expand, fuel economic growth as tech solidifies status as pillar industry
- Both the size of China’s 5G industry and its total userbase have grown considerably in recent years, according to study
- Country is turning to tech as a source of sustainable growth, making an even larger expansion likely by 2030
China’s flourishing 5G market is expected to add almost US$260 billion to its gross domestic product in 2030, with its 5G connections accounting for nearly a third of the worldwide total according to a recent report.
The mobile industry contributed to 5.5 per cent of China’s GDP last year, and in each of the coming years through 2030, nearly a quarter of that contribution will come from 5G – the highest echelon of current cellular technology – per the results of a study issued on Tuesday by the Groupe Speciale Mobile Association (GSMA).
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China has built 6 times the number of 5G towers in 3 months than the US has installed in 2 years
Overall, the mobile market’s contribution to the Chinese economy will reach around US$1.1 trillion in 2030, the association said.
In its The Mobile Economy China 2024 report, the GSMA said the country’s entire mobile sector has so far provided a total of nearly 8 million jobs directly and indirectly, and generated US$110 billion in tax revenue in 2023 alone.
5G adoption in China “is growing faster than anticipated due to the speed of network deployments and a maturing device ecosystem”, the GSMA said, projecting that the number of 5G connections will surpass 1.6 billion by 2030, nearly a third of the global total.