Qualcomm said 5G will “catapult mobile into the exclusive realm of general purpose technologies”, providing a foundation for innovation and driving new industries.

Examples of other general purpose technologies cited include electricity, rail systems, vehicles and the internet, which have led to significant, and sometimes disruptive, changes to industries and economies.

Marking the launch of its 5G Economy report, Qualcomm said the 5G value chain itself will generate up to $3.5 trillion in revenue in 2035 and deliver as many as 22 million jobs. In addition, the economic benefits of 5G across industries including retail, education, transportation and entertainment “could produce up to $12.3 trillion worth of goods and services enabled by 5G”.

Qualcomm CEO Steve Mollenkopf used some of these figures earlier this month, in a keynote at CES 2017.

Alongside the economic study, Qualcomm said “business decision makers and opinion leaders” believe 5G will bring “widespread benefits for society and the economy overall”, with more than 90 per cent believing 5G will enable new products, services and use cases which have not yet been invented.

The company worked with IHS Markit, PSB and economist David Teece on its research.

Teece said: “I’ve spent many years studying the impact of general purposes technologies, and it’s clear that 5G will propel mobile into that category, assuring the technology’s long-term impact on society and continued growth for decades.”