Monthly Archives: February 2021

PR Newswire

Pactera Leverages Blue Prism’s New Technology, Decipher IDP, in Intelligent Automation Project With FreightSafe

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SYDNEY, Feb. 9, 2021 — Pactera Technologies Australia is delighted to announce a significant Intelligent Automation signing with FreightSafe.

FreightSafe is a professional claims manager with a specialised focus on the freight industry. As the leading Third Party Administrator (TPA) for the transport industry, FreightSafe manages tens of thousands of claims each year professionally and quickly, streamlining and supporting the customer experience. With technology at the core of their organisation, claims are lodged online and customers are supported through a cloud-based claims and reporting platform. With the onset of COVID-19, FreightSafe has seen their business spike substantially. 

Pactera will partner with Blue Prism to automate a vital Invoicing process resulting in substantial operational benefits. This deal is particularly important as it represents the first Southern Hemisphere sale of Blue Prism’s latest iteration of their industry leading technology, Decipher IDP, which is an intelligent document processing solution that identifies and extracts data from structured and semi-structured business documents, such as invoices, purchase orders, and other typed forms.

"This partnership has brought close alignment between the Pactera, Blue Prism and FreightSafe executive teams to coordinate a robust blueprint for what will be an exciting transformative journey." Anthony Giannoccaro – Pactera’s Country Head of Sales & Channel in ANZ

"The Automation project will allow us to deliver even better customer outcomes for our clients and we look forward to working closely with Pactera and Blue Prism on this exciting initiative." Jonathan Bass – Commercial Director, FreightSafe

The implementation project kicked off on January 2021 and will see a partnership horizon spanning at least the next 3 years.

About Pactera

Pactera is a Global Technology company with 29,000 employees worldwide committed to delivering Digital-themed consulting, UX interaction, IT implementation and Operations services to customers. Pactera creates business value for Fortune 2000 companies by accelerating business innovation, enabling new growth, improving operational efficiency and transforming the user experience.

Website: https://www.pactera.com.au
LinkedIn: https://www.linkedin.com/company/pactera-australia
CONTACT: anthony.giannoccaro@pactera.com

 

Related Links :

https://www.pactera.com.au/

PR Newswire

Palma Ceia SemiDesign Expands Asia Team, Names Bo Liu Senior Director of Engineering in China

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Experience includes work at Alcatel, AMD and Huawei

SANTA CLARA, California, Feb. 9, 2021 — Palma Ceia SemiDesign, a fabless semiconductor company specializing in wireless connectivity solutions, today announced Bo Liu has joined the company as senior director of Engineering in China. Liu reports to Executive Vice President, Program Management Kevin Steptoe.

"Bo will be responsible for all engineering activities in China and be directly involved in driving the success of our customer and partner engagements there," Steptoe said. "His strong technical background, and international experience in telecom GPU, CPU and SoC design, will be of great benefit to the company."

Before joining Palma Ceia, Liu served as senior director for wireless IC Design at Shanghai Artosyn Microelectronics. Previous experience includes engineering roles with Advanced Micro Devices, Huawei, Freescale and Alcatel. He was also principal engineer at worldwide ASIC design consultancy and semiconductor solution provider Sondrel, where his assignments included projects for Intel and Cisco.

Liu holds BS and MS degrees in Electronic Engineering from Xidian University in Xi’an, China.

"The developments Palma Ceia has made in Wi-Fi technology make this an exciting time to join the company," Liu said about joining Palma Ceia. "Our Wi-Fi HaLow and Wi-Fi 6 offerings will enable some of the latest applications in IoT, smart factory and other domains."

About Palma Ceia SemiDesign
Palma Ceia SemiDesign (PCS) is a fabless semiconductor company and leading provider of communication semiconductors and IP for next-generation Wi-Fi and cellular applications. With a focus on emerging Wi-Fi and LTE standards, particularly for IoT (Internet of Things), PCS targets the design of ICs for broadband, wireless, medical and automotive applications. Palma Ceia SemiDesign solutions are differentiated by low power, high performance and ease of integration.  Headquartered in the Cayman Islands, the company has design and sales support centers in Cambridge (United Kingdom), mainland China, Hong Kong, and McKinney, Texas (United States). PCS is soon expanding to provide direct support for Israel, Japan, Korea and Taiwan. Visit Palma Ceia SemiDesign on the web at pcsemi.com.

Palma Ceia SemiDesign and the Palma Ceia SemiDesign logo are trademarks of Palma Ceia SemiDesign, a Cayman Islands corporation, and are protected by trademark laws of the United States and other jurisdictions. All other product and company names are trademarks or registered trademarks of their respective companies.

Palma Ceia SemiDesign Media Contact
Milan G. Lazich
press@pcsemi.com 
+1 650-464-1132

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PR Newswire

Mercurity Fintech Holding Inc. Announces Results of 2021 Extraordinary General Meeting

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BEIJING, Feb. 9, 2021 — Mercurity Fintech Holding Inc. (the "Company") (Nasdaq: MFH) today announced the results of its 2021 Extraordinary General Meeting, held on February 5, 2021 in Beijing, where it adopted resolutions, effective immediately, to: (i) increase the authorized share capital of the Company from US$50,000 to US$250,000; and (ii) re-elect following nominees as members of the Company’s Board of Directors:

Name

Title

Hua Zhou

Director and Chairperson of the Board of Directors

Haohan Xu

Director

Longming Wu

Director

Xiaoyu Li

Director

Tony C. Luh

Director

Paul L. Gillis

Director

Yuan-Ching (Samuel) Shen

Director

 

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend, " "ought to, " "plan, " "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact:
Xingyan Gao
Mercurity Fintech Holding Inc.
ir@mercurity.com
Tel: +86 (10) 5360-6428

Related Links :

http://ir.ccjmu.com/

PR Newswire

FTC Solar Launches Voyager+ Tracker Supporting 500+ Watt Module Transition

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FTC Solar is taking orders for Voyager+ with support for large-format modules   

AUSTIN, Texas, Feb. 8, 2021 – FTC Solar today announced the release of Voyager+, the next generation of its single-axis Voyager tracker, engineered to provide compatibility with new large-format solar modules now entering the marketplace.  

The large modules entering the market are built to incorporate larger solar cells, which are the energy-producing heart of each solar panel.  With these larger 182mm and 210mm cells, the modules can achieve power output exceeding 500 watts. Voyager+ supports these larger format modules and will be able to accommodate multiple module sizes from a variety of solar manufacturers.   

"We are seeing an increasing level of interest around large-format modules and are pleased to introduce this new Voyager line to support our customers," said Tony Etnyre, FTC Solar’s CEO. "As the industry transitions to larger modules, FTC Solar is ready to deliver tracking systems that are compatible with a variety of module sizes and configurations while maintaining our two-in-portrait format and industry-leading installation speeds," he added.    

FTC Solar is currently conducting tests at its research facility near Denver, Colorado, and will be evaluating the performance and structural requirements of a wide variety of large-format modules. 

Large-format modules are expected to lower solar project development costs. According to a Wood Mackenzie industry analysis, labor savings alone could be up to 6%, and energy production per acre will increase, with production gains depending on the module size and technology.

The transition to large-format modules is the next step forward in an industry that has been aligned around smaller standard module sizes for over a decade. The industry’s ecosystem of electrical and structural components has been developed around these modules and standardization has simplified construction, driving overall system costs down.

The new large format modules will continue to drive system-level efficiency improvements. FTC Solar has been collaborating with module manufacturers to identify and implement engineering changes to support larger modules such as strengthened torque tubes and modified damping technology.   

Module manufacturers are ramping up production of 500W modules with 600W modules expected to be deployed in the second half of 2021.     

About FTC Solar    
 FTC Solar is a fast-growing, global provider of solar tracker systems, technology, software, and engineering services.  FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.   

Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is headquartered in Austin, Texas, and maintains sales and support offices in Australia, India, the Middle East and Southeast Asia.  For more information, please visit https://www.ftcsolar.com/

Media Contact:  

Amber Gallagher-Schranz  
Email: pr@ftcsolar.com  
Phone: 866-FTC-SOLAR  

Logo – https://mma.prnasia.com/media2/606639/Ftc_solar_Logo.jpg?p=medium600

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Android, Mobile, News

Xiaomi Mi 11 is Finally Globally Launched

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The Xiaomi Mi 10 series was a formidable smartphone device. It showed the world that you do not need to spend a fortune to get a flagship level smartphone that will set your pants on fire. No, the Xiaomi Mi 10 does not really set your pants alight. There is a new one though from Xiaomi and surprise, surprise, they named it the Mi 11. Technically we saw this device before the end of 2020 when Xiaomi launched it in China.

The new Xiaomi Mi 11, like its predecessor is a powerful little beast that packs the most powerful System on a Chip (SoC) that Qualcomm can pack into a modern smartphone. That is a Qualcomm Snapdragon 888. This is also the first smartphone of 2021 in Malaysia that packs a powerful Qualcomm Snapdragon 888 SoC with 5nm build process. Obviously, it is 5G capable too for some futureproofing.

Source: Xiaomi

Helping the Qualcomm Snapdragon 888 SoC trundle along and handle whatever Android on MIUI 12.5 can throw at the Xiaomi Mi 11 is 8GB of RAM and up to 256GB of storage. 256GB may not sound plenty when you put it up against a Samsung Galaxy S21 Ultra with 512GB options. Though 256GB is a lot even for 4K video recordings.

Of course, you will not have to worry too much if you have some cloud storage to work with. For that, you will want to have fast internet packed into this device. On top of 5G then, the Xiaomi Mi 11 packs a WiFi 6 antenna to take full advantage of WiFi 6 technology for faster and more stable internet.

All of this helps deliver a smooth and snappy Android 11 experience via the large 6.81-inch AMOLED display that pushes MIUI 12.5 in WQHD+ glory at variable refresh rate at up to 120Hz. Of course, the display contains the usual in-display fingerprint technology. It also packs an in-display heart rate sensor, so you do not need your smartwatch to track your heart rate now. With better display also comes better, more natural feeling haptic feedback engine within the device. The brilliant immersive display is not complete without great audio, so Xiaomi got Harman Kardon working on the speakers to make it even better to enjoy movies or music on the device without a headphone.

Source: Xiaomi

Of course, a brilliant display also needs a brilliant camera. For that you get the very high-resolution 108-Megapixel camera that you saw on the Xiaomi Mi 10 and the Samsung Galaxy S21. Flanking the 108-Megapixel camera is a 13-Megapixel ultrawide angle camera and a 5-Megapixel macro lens. Telelens? Why do you need a telelens when you can just zoom into the 108-Megapixel camera and still get amazing photos out of it?

Of course, you need a big battery to power all these all day long. For that, you get a 4,600mAh battery packed into the Xiaomi Mi 11 smarpthone. The large battery is capable of being charged from empty to full in just 50 minutes via its USB Type-C port with a 55W charger. The 55W GaN charger will be included with the device in-the-box, which is good news. The battery can be charged wirelessly too at 50W, if you can find the right wireless charger for that kind of speeds. It is also capable of sharing its power wirelessly too at 10W if you need it to.

  • Source: Xiaomi
  • Source: Xiaomi
  • Source: Xiaomi
  • Source: Xiaomi
  • Source: Xiaomi

The Xiaomi Mi 11 will be available soon globally. There are no specific dates just yet, but we think we might see it launched in Malaysia by the end of February 2021 or early March 2021. The Xiaomi Mi 11 will start at EU€ 749 at launch (Approximately MYR 3,662). There are no mentions yet as well on the local Malaysian pricing of the device just yet. Whatever it is, we are excited about the device. Stay tuned for more updates.

PR Newswire

CLPS Incorporation Signs IT Services Contract with a Large E-Commerce Platform in the U.S., A Major Achievement in Global Expansion Strategy

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HONG KONG, Feb. 8, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that, through its wholly-owned subsidiary, CLPS Technology (California) Inc. ("CLPS California"), it has signed a Master Services Agreement with a large U.S. e-commerce platform (the "Client"). CLPS will provide IT services, including big data management for the Client’s cross-border e-commerce system.

Since 2014, CLPS has been providing IT services to the Client’s R&D center in Mainland China. With the long-standing business relationship and mutual trust between the two parties, CLPS has eventually secured an IT services contract directly from the Client’s headquarters in the U.S., which marks a significant milestone on its global expansion strategy. As a result, CLPS is also expected to participate and provide IT services on the Client’s global R&D centers.

Mr. Henry Li, Chief Operating Officer of CLPS, said, "CLPS California has been strategically developing its business in the U.S. market. The contract we gained from the U.S. is a proof of our commitment as a reliable IT services provider in the global market perspective. The continued trust and recognition from our blue-chip clients serve as our motivation to introduce more business opportunity in the global market going forward."

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT"), consulting and solutions service provider focusing on the banking, insurance and financial sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, and their PRC-based IT centers. The Company maintains 19 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou, Suzhou, and Hainan. The remaining eight global centers are located in Hong Kong SAR, USA, UK, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: http://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.

Forward-Looking Statements

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company’s future performance, its preliminary outlook and guidance offered in this presentation, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact: 

CLPS Incorporation
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

Related Links :

http://www.clps.com.cn

Gaming, News

Kyojins Come to Free Fire with New Attack on Titan Content

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Garena is taking it’s mobile battle royale game to new heights with a new partnership with Japanese publishing company, Kondansha. The new partnership will see iconic designs from hit anime and comic, Attack on Titan, make its way to the game in the coming month. This is the first in a series of partnerships that Garena is undertaking to elevate the gaming experience in Free Fire.

The new update will bring content inspired from Attack on Titan to the game. Players will be able to equip weapons with Survey Corps signature colours and even dress up as the terrifying, man-eating Kyojin (Titans) from the hit series. The two highlights are simply the tip of the iceberg when it comes to the partnership. Players can look forward to other features such as gun skins and other in-game items and collectibles.

The partnership is expected to kick off in March. The partnership is the latest in a series that Garena has been rolling out for Free Fire. Previously, the company partnered with Netflix’ Money Heist television series in addition to a large scale partnership with celebrity footballer, Cristiano Ronaldo.

PR Newswire

uCloudlink’s GlocalMe Portable Wi-Fi Devices Achieve Outstanding Growth in U.S. Market Despite Travel Restrictions

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HONG KONG, Feb. 8, 2021 — UCLOUDLINK GROUP INC. (NASDAQ: UCL, "uCloudlink"), the world’s first and leading mobile data traffic sharing marketplace, has reported outstanding results in the U.S. over the past six months for its GlocalMe brand with an 100% uptick in the website traffic of its local e-commerce site, as well as a new record of monthly registered users in its APP in final quarter of 2020, which exceeded its historical peak in 2019 pre COVID-19. Off the back of its phenomenal success, uCloudlink will launch GlocalMe brand’s local e-commerce sites for European market in 2021, commencing with France.

Although travel has been largely restricted due to the pandemic, the demand for reliable, portable network connectivity is of greater importance than ever before. Safety concerns and social distancing measures associated with COVID-19 are driving more Americans to stay home; and rising trends in remote work, distance learning and online activities mean that staying connected is an absolute necessity. Tapping into different sources of wireless data, aside from home networks or mobile data, can help deliver this constant connectivity in the ‘new normal’.

uCloudlink’s GlocalMe brand offers full-frequency support with a stable network, flexible data plans and high-speed connections. With GlocalMe devices, users enjoy wider coverage and a more reliable connection compared to a traditional Wi-Fi hotspot from a mobile carrier – making online work and activities a breeze in any location. While this feature makes GlocalMe the ideal travel companion, it is also a must-have accessory in today’s environment, where a strong online connection is frequently needed as users find themselves working or learning remotely.

The company is also expanding its product and service penetration to provide more customers with reliable connectivity, high speeds and competitive pricing by offering a range of cooperation models with different organizations. In the upcoming February, GlocalMe will partner with Turkish Airlines to launch a campaign – customers who buy GlocalMe devices on GlocalMe’s US site, will be offered with Miles&Smiles loyalty points which could be used in their future flights with Turkish Airlines. With GlocalMe ‘s devices on hand and Miles&Smiles miles awarded, customers will be able to enjoy not only superior mobile connectivity at anywhere and at any time, but also value-added services for their travelling plan.

In strategic key markets with high growth potential such as the United States and Europe, uCloudlink continues to enhance its e-commerce efforts with the intention of opening more new business opportunities to facilitate its business growth and performance in the future. Looking ahead, the company plans to launch new products to help users stay connected while working and learning from home. The brand is also forging new partnerships with like-minded companies, as well as developing new content, to offer even more value for its customers.

For more information, please visit https://www.glocalme.com/US

About UCLOUDLINK GROUP INC.

uCloudlink is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.

Related Links :

http://www.glocalme.com/US

PR Newswire

ANNKE Unveils Groundbreaking Pano360 Pro, First True Fisheye Panoramic PoE IP Security Camera with 30 fps

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HONG KONG, Feb. 8, 2021 — ANNKE, created for security, levels up its all-around smart security solutions by launching its first exceptional fisheye panoramic PoE IP camera – Pano360 Pro – the game changer to cover every corner inside any property. The launch of Pano360 Pro marks another milestone of ANNKE’s history in 360° monitoring and video frame rate.

ANNKE Pano360 Pro Fisheye PoE IP Security Camera
ANNKE Pano360 Pro Fisheye PoE IP Security Camera

The showstopping camera is now in ultra pre-order sales. Customers can buy this camera at 15% off now: https://www.annke.com/products/pano360-pro

ANNKE Pano360 Pro, a brand-new innovation in video surveillance industry, provides the smartest and easiest way to customers, who want a low-profile security solution that is able to detect any intrusion and cover all angles in all places.

Pano360 Pro – A Pro Camera to Provide True 360° Panoramic View
One of the unrivalled features of the IP camera is the true 360° all-angle coverage. The advanced 1.27 mm lens and F1.2 super aperture enable Pano360 Pro to capture every corner, leaving no blind spots. Install the camera to the banks, shopping malls, retailing stores, elevators, schools, etc. for endless all-around protection with just a single camera.

Premium 6MP Super HD at 30 fps
Packed with the powerful 1/1.8” CMOS image sensor and 5 image enhancement algorithms (WDR, 3D DNR, BLC, HLC & defogging), the camera shoots the clearest & smoothest 6MP images (3072 X 2048 pixels) at 30 fps in all lighting conditions, regardless overexposed or underexposed, foggy or complete dark environments, much better than other 5MP, 6MP or even 4K cameras with less frame rate and without the advanced algorithms.

A Groundbreaking Panoramic Camera with 6 Behavior Analysis
Pano360 Pro outsmarts other fisheye surveillance cameras with its unique & unprecedented 6 smart behavior detection ways, ensuring nothing can slip through without users’ attention.

Equipped with the state-of-the-art detection ways, including line crossing, intrusion, region entrance/exit, unattended baggage & object removal detection, the camera will notify customers instantly when an object enters the preset virtual line/area, or when an object is left/removed in the area, perfect for monitoring and protecting all vital positions.

ANNKE Pano360 Pro Smart Feature Overview

  • True 360° Fisheye Panoramic View
  • True 6MP Super HD at 30 fps
  • 5 Image Enhancement Algorithms
  • 6 Smart Motion Detection Ways
  • Record Audio to Enhance Security
  • MicroSD Card, NVR & NAS Storage
  • ONVIF & RTSP Compatibility
  • Motion Alerts & Remote Access
  • DC 12 V or PoE Power Options
  • Multi-Level Encryptions & Protocols

Today, ANNKE is writing the next chapter in its video surveillance history by changing what’s possible in a security camera. ANNKE Pano360 Pro introduces a completely new innovation that unlocks new capabilities never seen before with its all-area coverage. ANNKE created this camera for customers that want to experience what a premium 360° IP camera can do, beyond the limitations of a traditional fixed security camera.

Pricing and Availability

ANNKE Pano360 Pro camera is now available at its official online store, at a retailing pricing of $509.99 after 15% off pre-order sales. Customers can order the camera now to be the first to experience the new high tech. The estimated shipping time is mid-February.

About ANNKE

ANNKE, created for security, aims to provide the finest and best smart security cameras and systems for home and business owners worldwide. ANNKE’s deep expertise in product design, smart home connectivity and cutting-edge capabilities enable it to deliver the most seamless security solutions for users. ANNKE is always striving to develop innovative technology to provide customers with easiest and the most straightforward security products.

For more details about ANNKE and its products, please visit: https://www.annke.com.

Media Contact
Alice Wei/PR Manager
Email: pr@annke.com

Related Links :

https://www.annke.com

PR Newswire

Health and social care to gain the most from 5G productivity and efficiency gains, which will add US$1.3trillion to global GDP by 2030

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New analysis of 5G – the next generation of mobile connectivity – estimates the impact of new and existing applications.

Over half the global economic impact (US$530bn) will be driven by the transformation of health and social care within the next ten years; a quarter by smart utilities driving savings in energy, water and waste management.

Large manufacturing-based economies are likely to gain the most, including the United States (USA), China and Japan, but gains are projected globally as 5G integrates as a critical part of societal infrastructure.

Transparency is critical to building trust with consumers and regulators 5G’s application.

LONDON, Feb. 8, 2021 — Productivity and efficiency gains enabled by 5G’s application will drive business, skills and service change worth US$1.3 trillion to global GDP by 2030.

In Powering Your Tomorrow, PwC quantifies for the first time, the economic impact of new and existing uses of 5G in utilities, health and social care, consumer, media, and financial services across eight economies with advanced rollout: Australia, China, Germany, India, Japan, South Korea, USA and the United Kingdom (UK).

More than a faster version of mobile connectivity on 4G, 5G’s speed, reliability, reduced energy usage and massive connectivity will be transformative for businesses and wider society, enabling ubiquitous access to super fast broadband. Used in combination with investments in artificial intelligence (AI) and the internet of things (IoT), 5G can be used as a platform to enable business and society to realise the full benefits of emerging technology advances.

Economic gains are projected across all economies assessed in the study, as 5G offers the potential to rethink business models, skills, products and services, with the gains accelerating beginning in 2025 as 5G-enabled applications become more widespread

Based on the study, the USA (US$484bn), China (US$220bn) and Japan (US$76bn) will experience the largest uplift as a result of 5G technology applications, due to the size of their economies and strong modern industrial production sectors.

At a regional level Europe, Middle East & Africa (EMEA) is expected to benefit the most from manufacturing applications of 5G, due to the size of the manufacturing sectors. It demonstrates the potential for regional competitive advantage through approaches to the adoption and regulation of the technology.

Wilson Chow, Global Technology, Media and Telecommunications Industry Leader, PwC China, comments:
"These numbers quantify impact, but perhaps more important, our study reflects the value of 5G – new levels of connectivity and collaboration mean companies will be able to see, do and achieve more. It will open up new opportunities for growth and change as organisations rethink and reconfigure the way they operate in the post-pandemic world.

"With the pandemic accelerating digitalisation across all sectors, 5G will act as a further catalyst. It will emerge in this decade as a fundamental piece of our societal infrastructure and as a platform for driving the competitiveness of national economies, new business models, skills and industries."

Achieving better, faster outcomes in health and social care

Over half the global economic impact (US$530bn) will be driven by the transformation of health and social care experience for patients, providers and medical staff within the next ten years.

While the acceleration of telemedicine during the COVID-19 pandemic provided a glimpse of the future of healthcare, remote care is just one area in which 5G can enable both better health outcomes and cost savings.

5G’s applications include remote monitoring and consultations, real time in-hospital data sharing, improved doctor-patient communications and automation in hospitals to reduce health care costs.

Regional & Sector impacts

At a sector level, impacts vary for individual economies. The USA and Australia are projected to gain the most from financial services applications: India from smart utilities; China and Germany in manufacturing.  Other industries analysed in the study show the significant potential of new and existing applications over the next decade, driving changes in skills, jobs, consumer products and regulation:

  • SMART utilities management applications will support environmental targets to reduce carbon and waste through enabling combined smart meters and grids to deliver energy savings, and improving waste and water management through tracking of waste and water leakage (US$330bn).
  • Consumer and media applications include: over the top (OTT) gaming, real time advertising and customer services (US$254bn)
  • Manufacturing and heavy industry applications include: monitoring and reducing defects, increased autonomous vehicle use (US$134bn)
  • Financial services applications including reducing fraud and improving customer experiences (US$86bn)

Wilson Chow comments:
"5G is more than mobile connectivity. It puts a new lens on advancing productivity and rethinking entire business models for the future. Given the scale of potential and its impacts, every organisation will need a plan for 5G’s implementation within five years across technology and business strategies to maximise opportunities and prepare for how they integrate their technology and business strategies, and engage with customers, supply chain and regulators."

Policy & Trust
The study highlights that the reach of 5G’s technology potential will require businesses and government to consider new approaches to regulatory and consumer engagement – focusing on how the technology is used.

Wilson Chow comments:
"With any technology, policy engagement, transparency and public trust are critical factors. Whether it’s considering the use of self driving vehicles or telemedicine, how data is managed, infrastructure deployed, or how different sectors collaborate, business and government need to shit from focusing on regulating a technology, to promoting transparency in 5G’s application, building and sustaining public trust in its use and potential."

Download the report here

About the report

PwC drew on expert insight and using economic modeling, to examine the impact of 5G’s use across five industries. The projections in this study represent the net economic impact of 5G technology, taking into account displacement effects such as some economic activities becoming obsolete and focusing on economic value added across value chains and throughout the economy, rather than only the revenues of 5G telecoms businesses. Further details on the methodology can be found here.

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

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