Europe 5G Services Market

Europe 5G services Market Size (2024 to 2029)

The size of the European 5G services market was estimated at USD 0.57 billion in 2024 and is expected to reach USD 16.85 billion by 2029, growing at an annual compound rate of 96.8% during the forecast period. 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.

Europe 5G services Market Drivers

• Increasing digital traffic and the demand for uninterrupted connectivity

• Advent of emerging technologies like artificial intelligence, M2M communication, Internet of Things, and others

• Demand for sensors and actuators from autonomous vehicles and smart devices

• Presence of automotive giants in the European region, such as Nissan, Volkswagen, Daimler and BMW

Europe 5G services Market Restraints

• The cost involved in the implementation of network services

• Intense market competition and stringent telecommunication regulations

REPORT COVERAGE

This market research report is segmented and sub-segmented into the following categories

Europe 5G services Market Analysis By Vertical

• Smart Cities  
• Connected Vehicles 
• Connected Factories
• Smart Buildings       
• Smart Utilities
• Connected Healthcare       
• 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.

Europe 5G services Market Analysis By Application

•  eMBB  
• MMTC and URLLC    
• 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.

Europe 5G services Market Analysis By Region

• UK
• France
• Germany
• Spain
• Italy
• Rest of Europe

All the nations in Europe are strengthening their current infrastructure to implement 5G services in the coming years.

KEY MARKET PLAYERS

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, NEC Corporation, and others.

RECENT HAPPENINGS IN THE MARKET

• European Commission created a Public-Private Partnership on 5G, which is a flagship project to increase the research and developments in the 5G technology. An action plan was developed by this initiative in 2016 to introduce 5G services in the whole Europe by the end of 2020.

• In 2018, around 138 trials in the 5G network took place in over 35 cities in Europe. Of those, Spain, France, Germany, and Italy accounted for more than 40% of the activity performed.

• In 2018, Elisa Oyj, a Finland-based telecom operator introduced Europe’s first commercial 5G network. More deployments are expected from Vodafone, EE, Orange SA, and Deutsche Telekon AG by 2020.