Europe aims to make up for lost time in the development of the 5G network, the gold standard of telecommunications. After much hesitation, as reported by VuBlog in recent weeks, the EU has announced an ambitious plan with a 2020 time horizon. After all, 5G is a market that may be worth 113 billion Euros per year and 2 million jobs.
The Commission’s plan
The European Commission, on the word of its President Juncker, has announced a global reform and investment plan for telecommunications. One of the focal points, as explained in an article in Global Telecom Business, is the development of 5G. The time horizon is 2020. Over the next 5 years the Commission promises to bring high-speed connections to large urban centres and to the continent’s main railway lines.
How much is 5G worth?
Investments in the 5G network are designed specifically for economic development, a shot in the arm for a Europe that is still lagging as a result of the crisis. According to experts, high-speed Internet will be able to unlock resources amounting to 113 billion Euros per year (source: Corriere Comunicazioni) and create two million jobs.
The alliance with China
One of the first world economic powers to sense the importance of investments in 5G was China. Therefore, the alliance that Europe has made with the Asian giant will be greeted favourably, as indicated in the EuReport. A partnership that may be useful to Europe in accelerating its development plan for the ultra-fast network.
Synergies with the automotive industry
One of the industries that could benefit most from the development of 5G is the automotive industry. Experts and insiders talk of a future where cars, equipped with technology related to the Internet of Things, have ever more advanced features, including self-drive. The portal Fortune features an insight on the issue.