5G technology will enable $12.3 trillion in global economic output by 2035, Chris Pearson, head of industry trade group 5G Americas, said during a keynote presentation at the Global 5G Event, which took place in Tokyo, Japan, earlier this week.

By 2035, the global 5G value chain will generate $3.5 trillion in economic output and will support 22 million jobs globally, according to data from 5G Americas. “The 5G GDP contribution from 2020 to 2035 will be the size of the economy of India,” Person said.

According to 5G Americas, this technology will offer huge possibilities in key areas such as energy, transportation and smart cities in general, health and public safety.

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