5G won’t be a financial cash cow for wireless carriers, report says

The spread of superfast 5G wireless networks will provide a boon to the economy, although the revenue generated by wireless carriers from the emerging technology could be modest, according to a new report.

Companies in manufacturing, health care, transportation, environmental monitoring, and gaming will get major financial benefits from 5G’s speedier connections, according to consulting firm KPMG. Increased spending on connectivity, hardware, software, and services could drive more than $140 billion of new annual revenue in those sectors worldwide by 2023.

But for telecommunications carriers like Verizon, AT&T, and T-Mobile, which are spending tens of billions of dollars to