5G could generate almost $270 billion for the regional ICT sector in the next decade, Huawei told delegates at an event hosted at Gitex Technology Week.
The 5G Ecosystem conference explored 5G from a business, policy and industry perspective, bringing together operators, regulatory agencies, industry leaders and other stakeholders to discuss the potential impact of 5G on the region’s digital economy.
Huawei unveiled a research paper conducted in partnership with Analysys Mason, a global consulting and research firm, revealing that 5G will provide a cumulative revenue opportunity of $269 billion for the GCC alone, with about 50% of this addressable by operators, and the rest by other ICT players.
The research finds that the GCC is well positioned to deploy 5G, with the UAE being the most 5G-ready country in the region. Enhanced Mobile Broadband (eMBB), connected health, connected cars and smart city applications were the most common sectors to be at the center of the 5G business plan.
The whitepaper calls for collaboration between operators and vertical industries, showing that those operators that develop close relationships with the industry sectors, such as enterprise and healthcare to trial projects, will be first to unlock profit from 5G.
“We believe that GCC governments should put 5G at the heart of their national ICT visions, as it is going to be a key enabler of digital transformation across the region,” says Safder Nazir, regional vice president, Digital Industry Strategy, Huawei.
“We see the GCC is already in the first wave of adopters for 5G, in line with the region’s strategy of being a leader in technology adoption, and 5G will open up another level of opportunity,” he adds.For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.