5G Wireless Could Add $40 Billion in Annual GDP and 250,000 Permanent New Jobs to Canadian Economy by 2026, Accenture Report Finds

Networks will fuel innovation in healthcare, agriculture, industrial and other sectors, according to new report

OTTAWA, Ontario--()--New 5G wireless networks will contribute as much as $40 billion annually to Canada’s economy by 2026, according to a new report from Accenture (NYSE:ACN).

“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.”

Commissioned by the Canadian Wireless Telecommunications Association and developed by Accenture Strategy, the report, “Fuel for Innovation – Canada’s Path In The Race To 5G,” found that the deployment of 5G networks across Canada will lead to the creation of hundreds of thousands of new jobs.

Specifically, more than 150,000 short-term jobs are likely to be created between 2020 and 2026 while the networks are being deployed, and the estimated $26 billion investment by facilities-based carriers required to deploy the networks is likely to create 250,000 more permanent jobs annually by 2026.

Additionally, the report notes that 5G networks will fuel Canadian innovation across industries and improve Canadians’ quality of life, with new applications in areas ranging from healthcare to agriculture.

“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 Robert Ghiz, president & CEO of the CWTA. “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.”

Tejas Rao, a managing director at Accenture and global 5G offering lead for the company’s Network practice, said, “New generations of wireless technology have consistently brought waves of economic growth by improving the way people live and work, and the findings of this report show that 5G in Canada will be no exception. The investment in 5G will be a significant driver of jobs and provide new opportunities for innovation to drive Canada’s economy forward.”

The report discusses the benefits that 5G will bring – including increased throughput, broader coverage, low power needs and low latency – and 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. The report also identifies key factors that will affect the timeline and success of 5G in Canada, including the modernization of deployment rules and fees, spectrum availability and allocation, and the maintenance of a stable regulatory environment that encourages investment.

“5G networks have the potential to transform how Canadians experience wireless services and create new business models for businesses here,” said Sanjay Dhar, a managing director in Accenture Strategy. “However, collaboration is critical. Strategic partnerships between the private and public sectors that leverage agile ecosystems across industry lines can bring the 5G promise to life and make an enormous contribution to the country’s economic future.”

For a copy of the report or more information on CWTA’s 5G Canada Council, please visit https://www.5gcc.ca.

About CWTA

CWTA is the authority on wireless issues, developments and trends in Canada. It represents companies that provide services and products across the wireless sector. Representing the industry before all levels of government and various regulatory agencies, CWTA actively promotes the industry with the goal of ensuring continued growth of the wireless sector in Canada. CWTA administers a number of initiatives on behalf of its members, including corporate social responsibility programs and the national common short codes program.

About Accenture

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 442,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

Accenture Strategy operates at the intersection of business and technology. We bring together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprise wide transformation. Our focus on issues related to digital disruption, competitiveness, global operating models, talent and leadership help drive both efficiencies and growth. For more information, follow @AccentureStrat or visit www.accenture.com/strategy.

Accenture’s network practice provides consulting and technology services to help telecommunications operators accelerate the deployment of next generation networks, launch digital services and optimize network operations. Please visit www.accenture.com/network.

Contacts

CWTA
Greg Burch, +1 204-250-9244
communications@cwta.ca
or
Accenture
Theresa Ebden, +1 416-358-6741
theresa.ebden@accenture.com

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Release Summary

New 5G wireless networks will contribute as much as $40 billion annually to Canada's economy by 2026, says Accenture.

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