The European Commission believes that Europe must invest significantly more to exploit technology’s full potential for innovation. This is necessary in order not to fall behind the United States.
This is according to a study by the European Commission and the European Investment Bank. They write that 5G innovations are a key element in improving European competitiveness and stimulating our economic recovery. They also stress that the US spends 4.6 to 6.6 billion euros a year more on 5G innovations than Europe.
To catch up, more investments are needed. Such investments should mainly go to smaller companies that make applications using 5G. Such companies often have trouble finding suitable financing, according to the report.
5G growing slowly in Europe
The rollout of 5G is slowly but surely moving forward. In countries such as China and the US, there is already relatively widespread coverage, but Europe is a mixed bag. Apple CEO Tim Cook recently described the 5G coverage in Europe as a patchwork quilt. He was referring to the varying state of coverage in the different European countries. Research bureau Gartner also thinks that there is still room to grow in 5G in Europe. This can be attributed to the availability of affordable phones with 5G support, although Gartner thinks this will improve in 2021.
Earlier this month, Enisa, the EU’s cybersecurity agency, announced that it is working on a cybersecurity verification scheme for 5G. That verification scheme should help the EU secure mobile networks against potential threats. The agency has invited 5G experts to contribute to the development of this scheme.