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Qualcomm has released additional findings of a landmark study, The 5G Economy. The new research, conducted by leading industry and economic analysis firm IHS Markit, examines the potential economic impact of 5G for the Taiwan market.

IHS Markit research indicates that 5G represents an outstanding opportunity for Taiwan, currently the major supplier of component, semiconductor and contract manufacturing services to the Information and Telecommunications Technology (ICT) sector, to move beyond its traditional role by focusing on additional areas higher up in the value chain.

Under the existing industrial structure and policy environment, 5G holds the potential to unleash $134 billion in gross output of goods and services and support 510,000 Taiwanese jobs in 2035, according to IHS Markit.

Taiwan is well positioned, the study claims, to play a vital role in the emerging global 5G supply chain and many Taiwanese firms are investing in 5G, particularly in applications built for Massive IoT (MIoT). However, the study found Taiwan will need policies that encourage innovation and investment in higher-value aspects of the 5G value chain to stimulate additional output and employment.

“These respected researchers confirmed our strong belief that 5G will be a fundamental game changer,” said Jim Cathey, senior vice president and president of Asia Pacific and India, Qualcomm International, Inc. 

“The ‘5G Economy’ study also reinforces our confidence in the tremendous opportunity for further collaborations with the mobile ecosystem in Taiwan. Together with our Taiwanese partners we will continue to accelerate and drive the future of 5G technology in IoT, mobile and compute, enabling Taiwan to access the global economic benefits of 5G.”

Jim Diffley, vice president of IHS Markit and chief economist of IHS U.S. Regional Services Group, said: “As a regional technology hub, Taiwan has played an important role in the spread of mobile technologies globally in recent decades. The $134 billion in 5G-related gross output that Taiwan will directly and indirectly support by 2035 indicates that Taiwan has the opportunity to pursue economic growth strategies that are consistent with its Asia Silicon Valley Development Plan.”

These new findings on 5G’s economic impact on Taiwan are an expansion of the landmark ‘5G Economy’ global research study announced by Qualcomm in January 2017 and can be found here: https://www.qualcomm.com.tw/invention/5g

Published in Internet of Things