Research probes economic potential of 10G broadband networks in the U.S.

This month, NCTA — The Internet & Television Association has released a new report that explores the economic impact that the cable industry’s new 10G broadband platform will have on business, individuals and the country over the coming years.

Titled Assessing the Economic Potential of 10G Networks, the report was co-developed with Telecom Advisory Services, who helped NCTA to dive deeper into the data and what it means for the U.S.

According to the report, 10G – with speeds of up to 10 gigabits per second – will generate at least $330 billion in total economic output and create more than 676,000 new jobs over seven years.

More key insights from the report, as cited by the authors, include the following:

• 10G networks will be the backbone of a connected and more productive American future, enabling a range of revolutionary applications across a range of industries and at home, including VR/AR, precision agriculture, supply chain logistics, telehealth, smart cities, smart manufacturing and immersive video/8k.

• In total, the aggregate economic contribution of 10G in the United States will be nearly $330 billion, which according to the World Bank, is nearly equal to the 2019 GDP of Colombia.

• Network investment in 10G will result in a total GDP impact of $126.7 billion and the creation of roughly 376,000 job years over a seven-year span.

• The numerous applications and use cases enabled by 10G networks will generate economic benefits in the amount of $131.68 billion in cumulative GDP.

• The evolution of networks to 10G will generate $71.48 billion in consumer surplus over seven years, or an average of $10.21 billion annually.

• Overall, the network investment and spillovers from the seven-year migration to 10G networks will generate more than 676,000 new jobs, equivalent to an average of roughly 97,000 per year.

• The spillovers of 10G will create approximately 300,000 new jobs, equivalent to nearly an average of 43,000 per year.

• In the service sector, the migration to 10G networks will generate over 1.5 million jobs, roughly the number of workers Walmart employs in the U.S., and equivalent roughly to an average of 220,009 per year.

View the full report here.