Europe 5G Infrastructure Market foreseen to grow exponentially over 2019-2026

According to a recent report published by Allied Market Research, titled, "Europe 5G Infrastructure Market by Communication Infrastructure, Network Technology, Chipset Type, and Application: Opportunity Analysis and Industry Forecast, 2018-2026," 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. Numerous factors make the 5G era distinctive. For instance, government institutions of the UK are continuously striving for the progress of 5G with new spectrum allocations and working on the infrastructural deployment. In addition, the UK is one of the leading countries in terms of consumer digital engagement and speed of adoption of new technologies.

The Europe 5G infrastructure market signifies revolutionary and incredible changes in the wireless communication technology, which will create a huge impact on the data exchange and transmission. The current business scenario has witnessed an increase in the adoption of highly advanced and internet enabled devices for effective and innovative process control & management, product development, customer management & retention, and other activities. Further, the projects of developing smart cities, M2M communication, robotics, artificial intelligence, and many more high-end technologies generate the demand for strong, reliable, and un-interrupted internet infrastructure. European 5G infrastructure market share is dominated by players including Huawei Technologies, Ericsson, Samsung Electronics, Amdocs, NEC Corporation, and few others across chipset type, communication infrastructure, and network technology segment.

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The automotive sector is expected to be affected widely with the introduction of 5G technology. The automotive industry has evolved from stringent mechanical machines into highly integrated electromechanical systems. Designers are constantly adding complex and dynamic electronics to each successive model year to maintain high standards for quality and reliability. They are now considering advanced and flexible enhanced technological solutions for their next-generation automotive designs. Advanced driver assistance system, interactive control & infotainment system, and spending on autonomous vehicles are expected to be a reality in the coming years with the help of emerging 5G technologies. The current 4G network is compatible for sharing status updates, real-time information, and request rides.

This provides a platform for companies, such as Uber and Lyft. However, 4G cannot support technologies that need high speed and give vehicles spontaneous human-like reflexes. This is where 5G comes into picture. Machine vision and speech recognition technologies have revolutionized the autonomous vehicle. For instance, virtual assistants have been developed that analyze driver preferences and enable interaction using natural language.

Furthermore, Google Now, Apple Siri, and Nuance Dragon innovated the adoption of virtual assistants by integrating it in vehicles. Similarly, Microsoft announced to develop Cortana's automotive-grade version and Nissan has included a virtual assistant in its intelligent driving system (IDS). The integration of these technologies creates a need for high-reliable network and efficient network connectivity, which provide lucrative opportunities for 5G in automotive.

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According to Rahul Kumar, Research Analyst, Semiconductors & Electronics at Allied Market Research, "The Europe 5G infrastructure market is expected to witness considerable growth due to increase in digitization and rise in demand for machine-to-machine communication across the European region, which propels its adoption. The Europe 5G infrastructure market is projected to witness significant growth, especially in the automotive segment, due to rise in demand for driverless vehicle and advancement in the transportation & logistic sector."

KEY FINDINGS of THE STUDY
o In 2018, the SDN & NFV sub-segment generated the highest revenue in the Europe 5G infrastructure market.
o In 2018, the ASIC generated the highest revenue among the chipset type in the Europe 5G infrastructure market.

The key players in the Europe 5G infrastructure industry include Qualcomm Technologies, Inc., Huawei Technologies Co., Ltd., Intel Corporation, Samsung Electronics Co. Ltd., Ericsson, Nokia Corporation, NEC Corporation, Vodaphone PLC, Orange Labs, EE Ltd., NTT Corporation, IBM Corporation, ZTE Corporation, Fujitsu Corporation, CISCO, Interdigital Communication, Alcatel Lucent, Siemens, ATOS Spain SA, and Orion Innovations.

These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.

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This release was published on openPR.