New Technology Estimated to Contribute $330 Billion and over 676,000 jobs to the U.S. Economy by 2027
The future is closer than it might seem, especially with 10G just around the corner. As the COVID-19 pandemic has demonstrated, the virtue of a robust, high-speed, and reliable internet connection has never been more evident, and the cable industry has continued its work to stay ahead of consumer demand. Indeed, 2020 has seen major developments on the road to 10G – the cable industry’s initiative to bring broadband speeds of up to 10 gigabits per second to residential households across the U.S. In March, CableLabs released specifications for DOCSIS 4.0, a new technical standard that enables chipmakers and equipment manufacturers to develop technologies needed to support the 10G revolution. Then last month, Mediacom unveiled the country’s first 10G field test demonstration project in a residential setting – a 10G-powered “smart home” in Ames, IA. And in a study released today by Dr. Raul Katz of Telecom Advisory Services, the findings reveal that 10G will be a boon for the U.S. economy, generating at least $330 billion in total economic output and creating more than 676,000 new jobs over seven years.
The cable industry first announced the next evolution of broadband – 10G – in 2019, and has long been committed to staying ahead of consumer demand and technological advancements. The 10G platform will ramp up broadband capacity from the one gigabit speeds widely available today to 10 gigabits per second and beyond, providing faster downstream and upstream speeds, lower latencies, enhanced reliability and agile security. The kinds of experiences that this new platform will enable include applications such as advanced telehealth, 8k video streams, and immersive VR and AR experiences. The effect that these technologies will have on every industry and sector of society will be monumental and will transform how people communicate and conduct business.
Take a look at the Ames smart home, for example. The home supports more than 70 internet-connected devices and appliances, giving us a glimpse of a seamless connected future. Instead of a traditional TV, viewers can watch 3D holographic images from a 10G connected projector. Instead of driving long distances to a healthcare specialist, residents can connect with doctors from home with 10G-powered telemedicine apps – and use technology like connected pill boxes and wellness apps to promote health.
As Dr. Katz’s new study indicates, cable’s 10G evolution will be built on investments that will create hundreds of thousands of jobs in the construction, manufacturing and electronic equipment sectors plus lead to the development of new applications and services that create even more jobs in the gig economy.
Most importantly, 10G networks will be the backbone of a more connected and more productive American future, enabling a variety of revolutionary applications across a range of industries and at home. According to the study’s analysis, by bringing about both technological and economic growth, 10G will usher in the “fourth industrial revolution,” accelerating the emergence of “smart” homes, cities and industries, including in agriculture and manufacturing.
The 10G platform will usher in countless new technology developments as the capabilities of broadband networks vastly expand, which in turn, will have a significant effect on the economy.
To learn more about 10G and the latest in next-generation broadband technologies, be sure to check out @10GPlatform and head over to the 10G website.