BOSTON-The U.S. wireless industry is expected to become a larger sector of the U.S. economy than the agriculture and automobile industries within five years, according to a report from Ovum that assessed the economic impact of the wireless industry in the United States in 2004.
Currently the industry is slightly smaller than the computer, automobile, publishing and agriculture segments, said the report.
The study, conducted for CTIA, found that 2.5 percent of American jobs-or 3.6 million jobs-are directly or indirectly dependent on the U.S. wireless industry, and the industry generates $118 billion in revenues. The industry contributed $92 billion to the country’s gross domestic product. According to the study, if the U.S. wireless industry were a country, it would rank as the 46th largest country in the world as measured by GDP.
In addition, the study found wireless telecom services and products have created a $157 billion consumer surplus, which is the difference between what end users are willing to pay for a service and what they actually are paying.
Ovum predicts that during the next 10 years, the wireless industry will create 2 million to 3 million new jobs, add a cumulative additional $450 billion in GDP, create another $700 billion in consumer surplus and provide cost savings to businesses of more than $600 billion.
