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     5G-enabled industries have the potential to deliver $8trn* in value to the global economy by 2030 according to new research from Nokia and Nokia Bell Labs. The 5G Business Readiness Report surveys** 5G adoption among businesses around the world, providing a cross-sector view of the path to full 5G deployment.

This landmark report from Nokia underlines the potential for 5G to drive sustainable economic growth and define the next decade of innovation. The COVID-19 pandemic is forecast to further increase the value creation potential of 5G in the medium and long-term by accelerating digitization, particularly among the least digitally advanced industries. 

The report also highlights a clear correlation between 5G deployment and business performance. Companies at an advanced level of 5G adoption were the only group to experience a net increase in productivity (+10%) following COVID-19, and the only group able to maintain or increase customer engagement during the pandemic.  

    Nokia today announced that it has extended its long-term strategic relationship with BT into the 5G arena, following its selection as a 5G RAN vendor for the UK operator. As part of the deal, which will make Nokia BT’s largest equipment provider, Nokia will provide equipment and services at BT radio sites across the UK, helping to evolve BT’s radio access network to 5G and supporting its goal of maintaining the UK’s best network.

BT’s Nokia-powered network, which currently includes Greater London, the Midlands and rural locations, will be extended to also cover multiple other towns and cities across the United Kingdom¹. This enhanced Nokia footprint will support BT’s commitments to the UK government around the use of High Risk Vendors (HRVs) in UK network infrastructure.