European 5G IoT market is anticipated to grow significantly at a CAGR of 32.0% over the forecast period (2021-2027). The UK, Germany, France, Italy, Spain, and the Rest of Europe are the key economies that are driving the growth of the European 5G IoT market over the forecast period. The major contribution by the key players in the country such as partnerships, mergers & acquisitions, collaborations, product launches, geographical expansion, technological advancements, and investment in R&D, among others are the factors driving the growth of the market. Ericsson is one of the global leaders headquartered in Europe, which aims to make 5G a global standard for the next-generation wireless technology.
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In April 2020, Ericsson Inc. and BT (British Telecommunication PLC) have agreed to use Ericsson’s dual-mode 5G Core (Evolved Packet Core and 5G Core), a completely container-based, cloud-native Mobile Packet Core for 4G, 5G Non-standalone, and 5G Standalone services as a single fully integrated core. The agreement is another step forward in the two companies’ long-standing partnership and a key step toward BT’s goal of becoming a global leader in cloud-native technology by leveraging the full power of Ericsson’s leading 5G technology to meet the growing demands of consumers and enterprise customers.
Besides, in April 2020, VodafoneZiggo, the major Dutch communications service provider, has introduced a 5G network using Ericsson Spectrum Sharing and Ericsson 5G Core, an announcement done by Ericsson. Ericsson 5G innovations created opportunities in the cost-effective and seamless deployment of the latest mobile technology, which has improved network performance. Apart from it, in March 2020, Ericsson has announced the production of its first 5G base station at its smart factory in Lewisville, Texas. The millimeter-wave Street Macro solution is the first product made at the plant. Ericsson’s 5G portfolio for North American customers relies heavily on this solution. All radio access components are integrated into a single lightweight shell, allowing service providers to expand 5G coverage quickly in a complicated city environment. Thus, the major players such as Ericsson in the country and their contribution to the development of 5G IoT network is to drive the European 5G IoT market during the forecast period.
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Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered
· By Component
· By Network
· By End-User Industry
Regions Covered
· Europe
· Competitive Landscape- Ericsson Inc., Vodafone Group Plc, Nokia Corp., Robert Bosch GmbH, and Orange S.A., among others.
European 5G IoT Market – Segmentation
By Components
· Hardware
· Platform
· Connectivity
Services
· Professional Services
· Managed Services
By Network
· 5G Standalone
· 5G Non-Standalone
By End-User Industry
· BFSI
· Manufacturing
· Healthcare
· Energy and Utilities
· Automotive and Transportation
· Government and Defense
· Residential
· Others End-User (Smart Building, Agriculture, and Education)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
