SAN DIEGO, Jan. 17, 2017 /PRNewswire/ -- Qualcomm
Incorporated (NASDAQ: QCOM) today announced that its subsidiary,
Qualcomm Technologies, Inc. commissioned and released a landmark
study, The 5G Economy, examining the potential economic and
social impact of 5G around the world. The study was conducted
jointly by research firms IHS Markit, PSB and leading economist
Professor Dr. David Teece, director
of the Tusher Center at the Haas School of Business, U.C.
California, and principal
executive officer of the Berkeley Research Group (BRG).
The 5G Economy includes an economic impact study
conducted by IHS Markit and validated by Dr. David Teece, as well as opinion research about
the expectations for 5G among business and technology leaders
carried out by PSB. The combined findings of the study show how 5G
will profoundly affect the global economy and that business
decision makers in technology and other industries overwhelmingly
believe in the transformational nature of 5G.
"These respected researchers confirmed our strong belief that 5G
will be a fundamental game changer," said Qualcomm CEO Steve Mollenkopf. "We have been hard at
work helping create some of the key technologies and applications
that will make 5G a reality, pushing the boundaries of LTE,
collaborating with industry leaders, and spearheading the critical
research behind the next-generation global wireless standard."
Notably, the study indicates that 5G will catapult mobile into
the exclusive realm of General Purpose Technologies, like
electricity and the automobile, that provide the foundation for
massive innovation, give rise to new industries and benefit entire
economies. This will happen as 5G advances mobile from a set of
technologies connecting people to people and information to a
unified fabric connecting people to everything.
"I've spent many years studying the impact of general purposes
technologies, and it's clear that 5G will propel mobile into that
category, assuring the technology's long-term impact on society and
continued growth for decades," said Dr. David Teece.
Economic Growth Foreseen
According to the
study, in 2035, when 5G's full economic benefit should be realized
across the globe, a broad range of industries – from retail to
education, transportation to entertainment, and everything in
between – could produce up to $12.3
trillion worth of goods and services enabled by 5G.
The 5G value chain itself is seen as generating up to
$3.5 trillion in revenue in 2035,
supporting as many as 22 million jobs. Over time, 5G will boost
real global GDP growth by $3 trillion
dollars cumulatively from 2020 to 2035, roughly the
equivalent of adding an economy the size of India to the world in today's dollars.
Complementing the economic study, polling research done by PSB
confirms that business decision makers and opinion leaders around
the globe expect 5G to bring widespread benefits for society and
the economy overall, enabling new products and services, increasing
productivity and allowing for new industries to emerge. Over 90
percent of the more than 3,500 respondents agreed that 5G will
enable new products, services and use cases that have not been
invented yet.
For an in-depth look at the study, please visit:
https://www.qualcomm.com/invention/5g/economy.
About Berkeley Research Group
Berkeley Research
Group is a leading global strategic advisory and expert consulting
firm that provides independent advice, data analytics,
authoritative studies, expert testimony, investigations, and
regulatory and dispute consulting to Fortune 500 corporations,
financial institutions, government agencies, major law firms, and
regulatory bodies around the world. It is led by its chairman and
founder, David Teece, Tusher
Professor of Global Business at the Haas School of Business,
University of California, Berkeley.
About IHS Markit
IHS Markit (Nasdaq: INFO) is a
world leader in critical information, analytics and solutions for
the major industries and markets that drive economies worldwide.
The company delivers next-generation information, analytics and
solutions to customers in business, finance and government,
improving their operational efficiency and providing deep insights
that lead to well-informed, confident decisions. IHS Markit has
more than 50,000 key business and government customers, including
85 percent of the Fortune Global 500 and the world's leading
financial institutions. Headquartered in London, IHS Markit is committed to
sustainable, profitable growth.
About PSB
PSB, a member of the WPP Group, is a
global research-based consultancy specializing in messaging and
communications strategy for blue-chip corporate, political and
entertainment clients. PSB's operations include over 200
consultants and a sophisticated in-house market research
infrastructure with the capability to conduct work in more than 90
countries. For more information, please visit
www.psbresearch.com.
About Qualcomm
Qualcomm's technologies powered
the smartphone revolution and connected billions of people. We
pioneered 3G and 4G – and now, we are leading the way to 5G and a
new era of intelligent, connected devices. Our products are
revolutionizing industries including automotive, computing, IoT and
healthcare, and are allowing millions of devices to connect with
each other in ways never before imagined. Qualcomm
Incorporated includes our licensing business, QTL, and the vast
majority of our patent portfolio. Qualcomm Technologies, Inc., a
subsidiary of Qualcomm Incorporated, operates, along with its
subsidiaries, all of our engineering, research and development
functions, and all of our products and services businesses,
including our semiconductor business, QCT, and our mobile,
automotive, computing, IOT and healthcare businesses.
Qualcomm Contacts:
Peter Lancia, Corporate
Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Sinnott, Investor
Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
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SOURCE Qualcomm Incorporated