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The Potential of Connectivity Technologies Already Available Today

McKinsey Global Institute released a discussion paper titled, "Connected world: An evolution in connectivity beyond the 5G revolution". The report looks at  how connectivity could be deployed in mobility, healthcare, manufacturing, and retail. The use cases identified in these four commercial domains alone could boost global GDP by $1.2 trillion to $2 trillion by 2030. In fact, most of this value can be captured with advanced connectivity, using technologies that is already available today.

The executive summary states:

This raises a puzzling question: Why is so much potential still sitting on the table, and will new technologies alone be enough to realize it? This research looks at the issues holding back the market, with the aim of starting a broader conversation about what it will take to create momentum. It is part of an ongoing body of work that will continue exploring connectivity, including its possibilities in other sectors and its impact across broader economies.

Beyond the implications for industry, connectivity also has ramifications for equity and society. A picture of today’s digital networks superimposed on the planet would confirm that the World Wide Web is not actually worldwide today. There are dark gaps as well as regions of unusual density. In the decade ahead, many of those blank spaces will light up, and billions of new users will come online.

Enabling more people to plug into global flows of information, communication, and services could add another $1.5 trillion to $2 trillion to GDP, above and beyond the economic value of the use cases identified in the four commercial domains highlighted in this research. Although gaps will remain, this trend could unlock greater human potential and prosperity in many developing nations. 



More information available on McKinsey Global Institute

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