2026年欧洲移动投资需求

The GSMA is a global organisation unifying the mobileecosystem to discover, develop and deliver innovationfoundational to positive business environments andsocietal change. Our vision is to unlock the full power ofconnectivity so that people, industry and society thrive.Representing mobile operators and organisations acrossthe mobile ecosystem and adjacent industries, the GSMAdelivers for its members across three broad pillars:Connectivity for Good, Industry Services and Solutions,and Outreach. This activity includes advancing policy,tackling today’s biggest societal challenges, underpinningthe technology and interoperability that make mobile work,and providing the world’s largest platform to convene themobile ecosystem at the MWC and M360 series of events. GSMA Intelligence is the definitive source of global mobileoperator data, analysis and forecasts, and publisher ofauthoritative industry reports and research. Our datacovers every operator group, network and MVNO in everycountry worldwide – from Afghanistan to Zimbabwe. It isthe most accurate and complete set of industry metricsavailable, comprising tens of millions of individual datapoints, updated daily. GSMA Intelligence is relied on by leading operators,vendors, regulators, financial institutions and third-partyindustry players, to support strategic decision-makingand long-term investment planning. The data is used asan industry reference point and is frequently cited by themedia and by the industry itself. We invite you to find out more atgsma.com Our team of analysts and experts produce regular thought-leading research reports across a range of industry topics. www.gsmaintelligence.com info@gsmaintelligence.com Published: May 2026 AuthorsPau Castells, Head of Economic Analysis Kalvin Bahia, Senior Director of EconomicsFacundo Rattel, Economist Contents Executive summary4 1.Introduction: quantifying the investment imperative61.1.Regaining global leadership in mobile connectivity7 2.Europe trails other regions on 5G82.1Europe is falling behind on 5G92.2Europe is behind on reliability and capability metrics92.35G networks are slower in Europe112.4Europe is not investing enough in mobile13 3.MeasuringEurope’sinvestmentneeds143.1The Digital Decade targets153.2Investment required over the next decade15 4Regulatory reforms required to drive investment184.1Breaking free from low returns and lower investment194.2In-market consolidation204.3Spectrum management214.4Regulatory asymmetries23 5Delivering a step change in connectivity245.1Improving Europe's competitiveness25 Executive summary Realigning the investment environment in Europe High-quality mobile connectivity is vital for Europe to achieve its broaderdigital goals and build a sustainable and prosperous society. However, overthe past 15 years, the market and regulatory environment in Europe has beena key factor in mobile network investment per subscriber in the region beingconsistently lower than in high-income countries outside Europe. As a result, many European markets are lagging behind interms of network quality and the deployment of advancedmobile networks. For example, mobile download speeds inEurope averaged 86 Mbps in 2025, compared to 238 Mbpsin the Gulf Cooperation Council (GCC) states, 165 Mbps inChina and 141 Mbps in North America. In 2024, capex perconnection in Europe was €35, compared to €70 for globalmobile connectivity leaders. •Addressing asymmetrical regulation.Europe’soperators must currently comply with 34 sets ofregulatory obligations, such as quality of service,security requirements and net-neutrality obligations,which increase costs and reduce revenue growthopportunities. These regulations do not apply to otherecosystem companies developing competing digitalservices, such as over-the-top communications, cloudcapabilities and AI. There are also imbalances whenit comes to negotiations between these ecosystemplayers and operators. EU regulation should ensuremobile operators can reach fair agreements for theservices they provide, supported by rules that treatcomparable services equally. To quantify the investment required for Europe to meetits 5G goals and regain its global leadership in mobileconnectivity, GSMA Intelligence conducted a detailedeconomic modelling exercise. This found that mobileoperators in Europe will need to invest an additional€200 billion over the next decade, in addition to theexpected €270 billion required just to maintain thestandard technology upgrades and replacement cycle. At the same time, the EU needs to act on its pledge ofregulatory simplification – specifically, to streamlinesector-specific rules that are no longer essential orjustified, particularly where horizontal rules (which applyacross all sectors) already ensure compliance, and refrainfrom introducing new rules that place additional burdenson investing operators. Around half of the additional €200 billion will be neededto provide 5G coverage across Europe’s main transpo