The GSMA predicts that there will be a total of 1.2 billion global 5G connections by 2025

The global mobile sector will invest around $500 billion over the next 2 years, as it prepares for the roll out of 5G services across the world.

"Operators are set to invest half a trillion dollars in the mobile sector between now and 2020, but these investments can only be made if we have regulatory frameworks that are fit for purpose," Mats Granyrd, director general at the GSMA told attendees at the Mobile World Congress on Monday.

Granyrd said that timely release of harmonized spectrum was key to underpinning this investment. He also said that it was necessary for regulatory bodies to approve M&A activity that aimed to consolidate market positions, in order to facilitate these investments.

During his key note address Granyrd said that the industry needed to invest to ensure that the mobile sector continued to be a key driver of growth for the global economy.

"Last year the mobile sector generated some €3.6 trillion for the global economy – that is equivalent to 4.5 per cent of the world’s GDP. By 2022, we expect that figure to have grown to around 5 per cent," he said.