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Mobile technology generated 5.4% of global GDP in 2023

The rise of mobile technology has experienced accelerated growth in recent decades, changing the way people live, communicate and operate. This development is illustrated by its economic impact, which has reached an unprecedented point. As the report “Mobile Economy 2024”, produced by the GSMA on the occasion of the Mobile World Congress in Barcelona, shows, mobile technology has become a major part of our daily lives and, consequently, one of the key elements of our economic way of life.

In 2023, this technology generated the highest GDP growth at 5.4%, equivalent to 5.25 trillion euros.

However, this economic growth is not just an abstract line of numbers but also another manifestation of new jobs, with a growth of over 35 million jobs, both direct and indirect, around the world and a contribution to global GDP of more than 5.2 trillion euros.

  • Asia Pacific: This area registers the greatest GDP from mobile services, with 38% of the total in 2023.
  • North America: North America ranks next, contributing about 22% of the world’s total GDP.
  • Europe: Europe accounts for 18% of global and mobile GDP.
  • Latin America and the Caribbean: report local mobile revenues representing about 8% of total mobile GDP worldwide, placing them in the penultimate position in the ranking.
  • Africa and the Middle East: countries located in Africa and the Middle East contribute around 4% of the world’s mobile GDP.

All this proves that the digital industry has a much brighter future ahead. As a basis for the estimations, the contribution of mobile telephony by 2025 will be approximately 5.692 billion euros, which will be even higher by 2030, when it could reach almost 6 billion euros, depicting limitless prospects. This transition is, therefore, the consequence of the obvious costs in the global mobile services sector that are incurred with the incorporation of these services.

One interesting thing in the report will be the irresistible progress of 5G technology. By 2029, 5G is expected to have established its presence in at least a hundred nations, surpassing the 4G connections, which will be the number one mobile technology. The projection is that 15% of mobile communications’ global impact of more than 857 billion euros will be affected by 5G by 2030.

In addition, the influence of the net 5G development in other economic sectors is notable, as the growth will trigger innovation and efficiency.

The production industry is to be the winner mainly, and it is expected that its GVA will grow by 34% thanks to the application of this technology in smart factories and the development of automation and production process optimization.

Also, the public sector will get 15% of the benefits because 5G will help build smart cities with connected infrastructures, thus improving traffic management, security, and urban services.

Furthermore, services will also experience a positive run-up and 10% benefits, as 5G will facilitate more immersive and personalized consumer experiences, especially in health and e-commerce.

Entertainment is no exception. With the growth of 5G networks, this industry will achieve new and improved graphics and increasingly agile real-time interactions for its users, which will help foster the growth of its user base and, consequently, increase their engagement on these platforms.

G-speed breakthroughs have already been seen in gaming sectors such as casinos. More and more users are looking for this entertainment on the web without any problem. In addition, companies benefit from it when it comes to getting casino bonuses. You can have some amazing bonuses with a good internet connection. By signing up for a newsletter, you can get all the news, and with one click, you can have it on your mobile device.

The future industry is finally stepping out into the arena designed for the revolution in the world of the new generation 5G with the ability to teleport the user anywhere, in a snap of the finger, to those places and directions they want. These complex technologies give impetus to the speed and connectivity revolution and bring the chance for growth and competitiveness in the world’s economy.

Mobile technology advances make globalization more important and speed up economic development, productivity improvement, and innovation. Like an unchecked army, the pervasive growth of 5G will define the next few years with its revolutionary ongoing effects.

Consequently, these advancements create new opportunities for global trade, industries, and consumers and present thrilling challenges to overcome. From facing the challenges of digital inequality to guaranteeing cybersecurity and coping with the evolving regulatory landscape, the growing mobile environment requires strategic planning, foresight, and adaptability. While the challenges are evident, a reasoned strategy guarantees joy and opens up a new time of inter-human oneness and grandeur. We are undoubtedly just opening the doors to a much more connected world.

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