The wireless telecommunications market could experience rapid growth in the next few years. A new report from Deloitte predicts wireless telecommunications companies in the United States could invest $25 to $53 billion in 4G wireless networks between 2012 and 2016, resulting in $73 to $151 billion in gross domestic product growth and creating 371,000 to 771,000 jobs.
The Deloitte report, “The Impact of 4G Technology on Commercial Interactions, Economic Growth, and U.S. Competitiveness,” uses the economic dynamics surrounding 4G technology to explain how the U.S. can maintain the global leadership position in mobile broadband innovation it won during the 3G popularity. The $25 billion figure assumes a baseline scenario in which U.S. 4G deployment proceeds at a moderate pace and the transition from 3G to 4G extends to the middle of the decade. The $53 billion figure assumes a scenario in which U.S. carriers invest more rapidly in 4G networks and start to produce popular 4G-based offerings before global competitors gain traction
“Investment in such a powerful form of communication contributes to the economic recovery and provides a job-creating engine for the future,” said Phil Asmundson, vice chairman and U.S. media and telecommunications sector leader, Deloitte LLP. “The key to harnessing the potential benefits of 4G technology lies in America’s market-driven wireless sector, which encourages the emergence of innovative applications that spur productivity and could produce the same surge of innovation and demand we experienced during the 3G era.”