According to the report, the European 5G infrastructure industry generated nearly $147.5 million in 2018, and is expected to reach $27.74 billion by 2026, registering a CAGR of 96.2% from 2019 to 2026.
However, the report notes that the slow pace of digitization in Europe hinders market growth. On the other hand, an increase in government initiatives for development of smart cities create new opportunities in the industry.
Based on network technology, the SDN and NFV segment contributed the highest market share in the European 5G infrastructure market in 2018, accounting for nearly half of the total share, and is estimated to maintain its leadership position throughout the forecast period. This is due to its ability to minimize hardware constraints.
The self-organizing network segment is expected to register the largest CAGR of 108.4% from 2019 to 2026, owing to considerable requirements for increased mobile data transfer rate.