The size of the European 5G services market was estimated at US$ 0.1475 Billion in 2019 and is expected to reach US$ 31.26 billion by 2025, growing at an annual compound rate of 96.8% from 2019 to 2024. The fifth generation of mobile technology (5G technology) is an advanced technology that offers high data speed and connectivity in the rapidly evolving digital world. Mobile 5G seems to be the next big thing in the global ecosystem of digital connectivity
The European Commission is implementing various strategies and taking regulatory measures and has also invested US$ 16.64 billion to develop infrastructure for 5G broadband services. Features such as well-connected cities, private and public investment funds to build network infrastructure in the European region are promoting the growth and development of 5G technology. Therefore, the increasing prevalence of technology and the increase in mobile broadband services in Europe are an essential factor for the growth of 5G services in the region.
Drivers and Restraints of Europe 5G Services Market:
This market research report is segmented and sub-segmented into the following categories:
By Vertical: Smart Cities, Connected Vehicles, Connected Factories, Smart Buildings, Smart Utilities, Connected Healthcare, and Broadband Services.
Broadband Services are anticipated to hold the dominant share in the regional market, owing to the growing penetration of the internet and the need for high-speed data connectivity. However, the Smart Cities segment is likely to witness the rapid growth rate in the foreseen period due to the increasing demand for smart traffic management and parking, water and waste management, public safety applications, and so on.
By Application: eMBB, mMTC and URLLC, and FWA.
The mMTC and URLLC segment is predicted to expand with the highest CAGR in the coming years, attributing to the need for latent-free connectivity in M2M connections like self-driving vehicles.
By Geography: Germany, UK, France, Italy, Denmark, Norway, Sweden, Finland, Switzerland, the Netherlands, Luxembourg, Iceland, and the rest of Europe.
All the nations in Europe are strengthening their current infrastructure to implement 5G services in the coming years.
Nokia Corporation, Samsung Electronics Co., Ltd., Cisco Systems, Inc., LG Electronics Inc., Huawei Investment & Holding Co., Ltd, Telefonaktiebolaget LM Ericsson, Verizon Communications, Inc., Qualcomm Inc., Intel Corporation, T-Mobile USA, Inc., AT&T and NEC Corporation.
Europe 5G Services Market TOC
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