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

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).

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.

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