Europe 5G Services Market Forecast to 2031 - Regional Analysis - by type

The Europe 5G services market was valued at US$ 18.03 billion in 2023 and is expected to reach US$ 6,73,317.93 million by 2031; it is estimated to register a CAGR of 57.2% from 2023 to 2031.

Rising Government Initiatives to Promote Deployment of 5G Driver Europe 5G Services Market

The rising efficiency in various industries due to the adoption of 5G technology is influencing the respective government bodies to invest in promoting and developing 5G network services. A few of the government initiatives are mentioned below:

In July 2022, The German government unveiled a new strategy to augment the deployment of gigabit broadband throughout Germany in the coming years, with targets to provide fiber-to-the-home and 5G by 2030. The new Gigabit strategy also aims to provide FTTH to at least 50% of homes in the country by 2025.

In November 2023, the UK government announced an investment of US$ 39.16 million (GBP 36 million) through the 5G Innovation Regions (5GIRs) program. This initiative aims to drive the development and adoption of 5G and other wireless technologies to provide connectivity for towns, cities, and rural areas.

Thus, the rise in government initiatives to promote the deployment of 5G boosts the growth of the 5G services market.

Europe 5G Services Market Overview

The presence of a strong industrial base in Germany is driving the adoption of 5G services to support Industry 4.0 initiatives. The integration of 5G in manufacturing processes, logistics, and automation is a key driver for companies seeking to enhance production efficiency. The Gigabit Strategy 2030 initiative in Germany aims to expand fiber-to-the-home/business (FTTH/B) and mobile broadband, including 5G network expansion to half the population by 2025 and achieving nationwide coverage by 2030. The increasing adoption of Internet of Things (IoT) devices is driving the demand for 5G services, as 5G networks can support the connectivity requirements of a large number of IoT devices.

In February 2024, Telefonica Germany (O2 Telefonica) expanded its 5G services across Germany along motorways and railways. The corporation stated that it will build new 5G communication facilities covering over 14,000 kilometers of roads, highways, and trains by the end of 2023. Currently, Telefonica's 5G network serves over 95% of the German population.

Europe 5G Services Market Revenue and Forecast to 2031 (US$ Million)

Europe 5G Services Market Segmentation

The Europe 5G services market is categorized into type, end user, and country.

• By type, the Europe 5G services market is segmented into enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), ultra-reliable low latency (uRLLC), and fixed wireless access (FWA). The enhanced mobile broadband (eMBB) segment held the largest share of the Europe 5G services market share in 2023.

In end user, the Europe 5G services market is bifurcated into enterprises and consumers. The enterprises segment held a larger share of the Europe 5G services market share in 2023. Enterprises is sub segmented into IT & telecom, manufacturing, healthcare, BFSI, retail & e-commerce, and others.

• Based on country, the Europe 5G services market is segmented into Germany, the UK, Franc, Italy, Russia, and the Rest of Europe. Germany segment held the largest share of Europe 5G services market in 2023.

Deutsche Telekom AG, Huawei Technologies Co Ltd, Nokia Corp, Orange SA, Samsung Electronics Co Ltd, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc, Vodafone Group Plc, and ZTE Corp are some of the leading companies operating in the Europe 5G services market.

Reasons to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe 5G services market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Europe 5G services market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe 5G services market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.