European telcos are also spending more on investment according to the study, yet the continent is still trailing international peers.
The report which was published by ETNO, an industry body that represents European telecom operators, finds that the share of Europeans reached by 5G has doubled from 30% in 2020 to 62% in 2021.
This doubling of population coverage was accompanied by an increase in investment. According to ETNO, Europe recorded its highest investment effort in four years, hitting €52.5bn in Capital Expenditure (CapEx) in 2020 across the whole telecoms sector.
Yet compared to other international markets, Europe’s 5G rollout is trailing. 5G population coverage has reached 93.1% in the US and 93.9% in South Korea.