As Australia shifts towards a digital economy where hybrid work and digital connection become the norm, the country’s 5G ecosystem has become more important than ever. 

Austrade, along with PwC, revealed that the 5G ecosystem has the potential to unlock billions of dollars in productivity improvements across multiple industries. 

Research from the two organisations has found that Australia is in the top tier of nations rolling out 5G technology.  

Aside from the Mobile Network Operators (MNOs) installing around 4,000 operational 5G base stations across the country, data from the GSMA Mobile Connectivity Index also states that the country ranks third in 5G-connected devices per capita. 

While local businesses have yet to realise the full potential of 5G, a study from Telstra predicted that 95% of Australian businesses will have 5G coverage in 2025. 

This potential, along with the advanced rollout of 5G in industries, makes Australia an ideal destination for global players seeking scalable returns from 5G-related investment. 

“Australia is an ideal location to develop and test products and services to be deployed in other markets,” PwC Strategy’s Telco, Media and Technology Leader Mohammad Chowdhury said. 

“It also presents a sizeable stand-alone investor opportunity in some industries, such as mining, health and renewables.” 

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Austrade and PwC found that the country’s 5G connectivity has the potential to unlock billions of dollars in value-added uplift by 2030 across industries that include healthcare, mining, transport, manufacturing and utilities. 

Australia’s 5G-enabled technologies can help improve the efficiency of smart grids, enable real-time renewables trading marketplaces, secure cloud connectivity in health services and digitise manufacturing sites and supply chains. 

The research also found that the 5G ecosystem creates a special advantage for R&D in Australia as it provides collaborations and co-investments between companies and across industries. 

As a result, many global tech businesses have chosen Australia as a destination for investment in 5G and digital connectivity. 

Australia’s 5G potential has propelled the federal government to push forward incentives that will broaden regional 5G coverage, such as the Regional Connectivity Program and Connecting Victoria, which will be critical to the country’s growing digital economy.

Source: Austrade. Content has been edited for style and length.

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.

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