IDTechEx points out that it is predicted that by 2030 the direct 5G revenue in China will be 6.3 trillion CNY (about $930 bn) and the CAGR in the coming ten years will be 29 percent. 5G will create 8 million jobs and contribute around 5.8 percent GDP growth in China by 2030. The indirect revenue generated by 5G will be 10.6 trillion CNY (about $1,579 bn), with CAGR of 24 percent. Among them, the direct revenue for telecoms will be over $200 bn by 2029.
As the current 5G deployment plan is slower than expected, these numbers might be overestimated. The new IDTechEx Research report '5G Technology, Market and Forecast 2019-2029' forecasts a moderated revenue of $160 bn for telecoms in China by 2029. Nonetheless, China is still the main market to watch. It is likely that the telecoms in China will at least invest $200-350 bn from 2020-2030 for 5G development, with the key focus on automotive, industry, healthcare and energy.