GIGAWorld to unlock wave of innovation worth at least €250 billion per year in Europe by 2025
September 20 2017 - 7:00AM
Business Wire
- In-depth report from Arthur D. Little
estimates market could be worth at least €1.3 trillion per year
globally by 2025
- New technologies enabled by GIGAWorld
predicted to improve lives, boost economy and revolutionize
businesses
- Three families of apps will be central
to the GIGAWorld: Augmented Discovery, Virtual Telepresence and
Automated Living
New research from leading consultancy Arthur D. Little (“ADL”)
estimates that the GIGAWorld – the world enabled by widespread
access to high quality, gigabit internet in which people, machines
and the environment collaborate intelligently – could generate
billions of Euros for the European economy, and trillions
globally.
The report, commissioned by Liberty Global, offers a tantalising
glimpse into the future, outlining the exciting possibilities that
will arise with the emergence of a GIGAWorld, including
robot-assisted remote tele-surgery, 3D holographic projections of
sports events and skyscraper windows maintained by
drone-robots.
However, the research notes that the success of the GIGAWorld
“will depend on the room its innovation cycle will be given to
function, to allow new innovative applications and devices to be
developed, networks to be upgraded to GIGANetworks and new
monetization models to be adopted.” A key factor will be the
“predictability and clarity of the public policy framework to
stimulate all actors to invest in the GIGAWorld and to experiment
with new business models.”
ADL estimates that, under the right circumstances, the GIGAWorld
innovation cycle will unlock a market of at least €250 billion and
up to €660 billion per year by 2025 in Europe. At the global level,
the value is expected to be €1.3-3.5 trillion per year.
According to ADL, the market will be unlocked by three major
families of “GIGAapps” that will maximize the opportunities that a
GIGAWorld presents.
- Augmented
Discovery is the advanced understanding of, and interaction
with, an environment through a blend of digital content with the
physical world, e.g. the broadcasting of holographic sports events
or an augmented teaching session. By 2025, Augmented Discovery is
expected to generate revenues estimated at between €80 and 175
billion per year in Europe.
- Virtual
Telepresence focuses on overcoming physical or geographic
boundaries or immersive presence in artificial environments, for
example, a seamless retail experience or virtual social
interaction. By 2025, Virtual Telepresence is estimated to create
revenues of €20 - 60 billion per year in Europe.
- Automated
Living is the delegation of human decision-making and task
execution to technology and appliances, e.g. agriculture
supervision by drones or patient health tele-monitoring. By 2025,
this market in Europe is estimated to reach €150 - 425 billion of
revenue per year.
Usage and smooth functioning of these apps will rely on the
quality of networks, which will need to provide key service
features such as high bandwidth, low latency, high reliability,
high security, high resilience, widespread coverage and position
accuracy (the ability to determine via the network the device’s
positioning in three-dimensional space).
ADL notes that the GIGAapps will affect most economic sectors:
Industrial, Smart Home & Entertainment, Healthcare, Travel
& Tourism, Public Planning & Administration, Education
& Training, Retail & Commerce, Energy & Utilities.
Commenting on the report, Liberty Global SVP and Chief Corporate
Affairs Officer Manuel Kohnstamm said: “This report clearly
highlights the massive economic benefits and technological
advancements that await us if we embrace GIGAWorld. Networks are an
essential foundation of such an exciting future, and Liberty
Global’s investments, expansions and upgrades are making it
possible. Society will benefit if businesses and governments and
regulators collaborate to help drive the next innovation cycle,
enable the use of GIGAapps and unlock new value.”
Gregory Pankert, Partner, Arthur D. Little, said: “After 30
years of the Internet, we are entering a new era. The third
industrial revolution leveraged the development of electronics, IT
and automated production. The ongoing fourth industrial revolution
is driven by cyber-physical systems and fueling a wave of
technological innovation that fundamentally alters the nature of
digital applications. It will be essential for regulators to ensure
the innovation cycle functions well, iterates and creates
value.”
Notes to Editors
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding our networks and expectations
with respect to innovation and the impact on markets and other
information and statements that are not historical fact. These
forward- looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by these statements. These risks and
uncertainties include factors detailed from time to time in our
filings with the Securities and Exchange Commission including the
most recently filed Forms 10-K, as amended, and 10-Q. These
forward-looking statements speak only as of the date of this
release. We expressly disclaim any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in our
expectations with regard thereto or any change in event, conditions
or circumstances on which any such statement is based.
About Liberty Global
Liberty Global is the world’s largest international TV and
broadband company, with operations in more than 30 countries across
Europe, Latin America and the Caribbean. We invest in the
infrastructure that empowers our customers to make the most of the
digital revolution. Our scale and commitment to innovation enable
us to develop market-leading products delivered through
next-generation networks that connect our 25 million customers who
subscribe to 51 million television, broadband internet and
telephony services. We also serve over 10 million mobile
subscribers and offer WiFi service across 10 million access
points.
Liberty Global’s businesses are comprised of two stocks: the
Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for our
European operations, and the LiLAC Group (NASDAQ: LILA and LILAK,
OTC Link: LILAB), which consists of our operations in Latin America
and the Caribbean.
The Liberty Global Group operates in 12 European countries under
the consumer brands Virgin Media, Unitymedia, Telenet and UPC.
The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch
joint venture, which has 4 million customers, 10 million fixed-line
subscribers and 5 million mobile subscribers. The LiLAC Group
operates in over 20 countries in Latin America and the Caribbean
under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In
addition, the LiLAC Group operates a sub-sea fiber network
throughout the region connecting over 40 markets.
For more information, please visit www.libertyglobal.com.
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