How 5G Wireless Networks Will Improve Communities and Industry
The process of building out 5G networks over multiple years could leverage more than 1 million American workers across the construction, engineering and supply chain industries. After 5G is implemented, it could indirectly create 2.2 million additional jobs through broader economic impacts to the energy, technology and government sectors.
Growth in the U.S. gross domestic product (GDP) could surpass $500 billion annually, spread across communities of all sizes across the United States. This GDP growth would directly result from job creation stimulated by 5G networks, as well as the emerging capacity to ensure all Americans have access to high-speed broadband internet.
Increased wireless capabilities, coupled with the use of sensors and smart devices, could empower cities to reduce traffic congestion while improving public transportation and public parking. Such technology could also improve public safety through more comprehensive monitoring and faster emergency response times. Cities choosing to leverage emerging “smart” technology and 5G networks could see significant cost savings.
5G allows more accurate monitoring of energy-consuming devices, which in turn supports better forecasting of energy needs. Smart devices interconnected through 5G networks can help control energy demand, support load balancing and ultimately reduce energy costs. The technology could reduce the duration of outages and serve multiple functions like monitoring air quality. It could even save money by automatically reducing power and light usage in response to the ebb and flow of consumer demand. Many estimate the benefits from “smart energy grids” to reach $2 trillion over 20 years.
“As smart infrastructure becomes more critical in the next few years, it will be increasingly important to think strategically, streamline regulatory processes and help drive innovation,” said Joe Caldwell, director of utility development for Bartlett & West. “Our project management teams are focused on a comprehensive approach to help communities and industry capitalize on emerging opportunities.”