5G is fifth generation cellular technology, which consists of hardware component manufacturer, technology enablers, and telecom operators that facilitate 5G connections, operations, communication, supervision, and management of an enterprise network. 5G speed assures stronger connectivity, which creates seamless connectivity and eliminates latency.
The Europe 5G infrastructure market size was valued at $147.5 million in 2018 and is projected to reach $27.74 billion by 2026, growing at a CAGR of 96.2% from 2019 to 2026.
This technology caters to various technologies such as artificial intelligence, smart robotics, augmented & virtual reality, and smart infrastructures.
The 5G wireless network is expected to be the backbone of smart cities and industrial internet of things, which provides lucrative opportunity for the growth of the Europe 5G infrastructure market.
The current market is compelling manufacturers to become more competitive, efficient, and productive for winning the global market race.
The technologies are influencing the overall business process, starting from raw material procurement, vendor management, shop floor operations, production process, customer retention, and other processes.
This involves various mobile platforms & applications, technology devices, and others to be well synchronized among each other to have smooth operations.
Any latency in the process can hamper the business processes or final product. Therefore, 5G enables the end-to-end process quickly and efficiently.
Digitization is revolutionizing the industry verticals across the globe. For instance, digitization across energy & utilities sector enhances the electricity supply and greater energy efficiency & utilization for large number of population across the developing nations. In addition, it helps in minimizing the unplanned electricity outages, smart energy distribution, remote monitoring of energy sites, and others.
Therefore, need of strong internet connectivity and higher internet bandwidth accelerates the growth of the market.
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The Europe 5G infrastructure market growth is supplemented by the proliferation of M2M/IoT connections and increase in demand for mobile broadband services.
However, high investment and technological & infrastructure challenges in implementation of 5G network and privacy & security concerns are expected to impede the market growth. Furthermore, rise in government initiatives for building smart cities and investment of upcoming advanced technologies such as driverless vehicle, robotics, smart manufacturing, and others is expected to provide lucrative opportunities for the Europe 5G infrastructure market growth.
The Europe 5G infrastructure market is segmented on the basis of communication infrastructure, network technology, chipset type, application, and region.
Based on communication infrastructure, it is divided into small cell, macro cell, radio access network, and distributed antenna system.
By network technology, it is categorized into software defined networking & network function virtualization, mobile edge computing, fog computing, and self-organizing network.
By chipset, the market is classified into application-specific integrated circuit, radio frequency integrated circuit, millimeter wave technology chips, and field-programmable gate array. Based on application, it is fragmented into automotive, energy & utilities, healthcare, retail, and others.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include AT&T, Ericsson, Huawei Technologies Co., Ltd., Hewlett Packard Enterprise (HPE), Intel Corporation, Mediatek Inc., Nokia Corporation, Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., and Verizon.
These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.