OTTAWA – With new 5G wireless networks poised to contribute as much as $40 billion annually to Canada's economy by 2026 plus create hundreds of thousands of new jobs, collaboration between the public and private sectors is critical to its success, says a new report commissioned by the Canadian Wireless Telecommunications Association (CWTA).
Developed by Accenture Strategy, ‘Fuel for Innovation – Canada's Path In The Race To 5G’ predicts that more than 150,000 short-term jobs are likely to be created between 2020 and 2026 while the networks are being deployed, and estimates that the $26 billion investment by facilities-based carriers required to deploy the networks is likely to create 250,000 more permanent jobs annually by 2026.
The report also counts increased throughput, broader coverage, low power needs and low latency among 5G’s many benefits, plus identifies four significant areas of benefit to Canada: immersive entertainment; precision agriculture; "connected ambulance" (real-time remote diagnosis and treatment of patients); and predictive industrial maintenance.
Key factors that will affect the timeline and success of 5G in Canada include the modernization of deployment rules and fees, spectrum availability and allocation, and the maintenance of a stable regulatory environment that encourages investment, continues the report.
"Wireless in Canada is a success story for our country because it is an industry that works: Canada's wireless networks are among the fastest and most advanced in the world, and 5G offers a chance to build on this leadership," said CWTA president and CEO Robert Ghiz, in the report’s news release. "This report highlights the opportunities that lie ahead with 5G — opportunities for all Canadians, including those in rural areas where 5G can close gaps in broadband service using fixed wireless. To grasp these opportunities, stakeholders will need to work collaboratively to ensure that 5G will be a success here."
The report and more information on CWTA's 5G Canada Council is available at https://www.5gcc.ca
