More Americans are being added to the nation's 5G network. A new report from Statista shows improved connectivity is beginning to transform U.S. telecommunications and the American economy.

According to the latest stats, 5G implementation will add more than $1.5 trillion to the national gross domestic product (GDP) by 2025. When broken down by state, this is the equivalent of $253 billion to 2.39 million jobs in California alone, followed by New York and Texas at more than $130 billion.

5G market share grew significantly in 2020, with compatible smartphone sales rising from 3.3 percent in January 2020 to 13.5 percent in August of that year. 

According to Insider Intelligence, U.S. 5G mobile service subscriptions grew 79.1 percent in 2022 and will grow to 71.9 percent in 2023 before tapering off to 32.0 percent growth by 2024.

Faster speeds mean better service and higher adoption rates. Real-world tests show speeds ranging from 44.8 megabits per second (Mbps) to 83.8 Mbps across the U.S. 

Adoption of 5G has also helped push the price of smartphones down. In 2019, the average price of a smartphone was $1,075. This fell to $730 by mid-2020. It’s expected these numbers will fall even further as prices continue to drop, while 5G adoption is expected to surge from more than 14 million users in 2020 to 411 million in 2027.