Europe digitisation will create €550 bn revenue opportunity

Europe’s adoption of digital technologies will create €550 bn revenue opportunity according to studies by PwC and Boston Consulting Group.

According to studies by PwC and Boston Consulting Group, by digitizing products and services in manufacturing, Europe will create more than €110 billion euros in extra annual revenue over the five years starting from 2015.

Ken Hu, rotating CEO, Huawei observed that Europe has a strong industrial base, excellent basic research capabilities and a forward-looking digital vision – elements that pave the way for the region to take the lead in digital transformation.

Hu said, “Huawei has been in Europe for 18 years, and as a committed partner in Europe’s digital ecosystem, we believe more can be done to secure Europe’s leadership position.”

From a technology perspective, 5G, optical fiber, cloud, and the Internet of Things (IoT) are key to Europe’s long-term digital objectives. But some European telecom operators still need to be convinced to make the necessary investments in digital infrastructure.

“At the same time, European governments need to help telecom carriers address new investment challenges. Using the tools we have available, including policy and regulation, we need to build a pro-investment environment,” added Hu.

Ken Hu advised Europe to act quickly in harmonizing and releasing more 5G spectrum. Carriers also need support in rolling out more fiber, both financially and with respect to policy. For example, greater infrastructure-sharing, where power lines and optical fiber are installed together, will help operators cut costs and speed up deployment.

Huawei has operated in Europe for 18 years and employs more than 11,000 employees. As a key participant in the European digital agenda, Huawei works with every major operator and serves more than 1,000 enterprise clients on the continent.

“We will continue to actively participate in the construction of digital infrastructure, assist the digital transformation of operators and industries, develop a digital ecology, and collaborate with universities and research institutions to jointly assist the digital transformation of Europe,” commented Hu.