The GSMA report “Efficient Operator Scale in European Mobile Markets” describes the European mobile market as having entered a period of structural transformation: rising data consumption no longer automatically translates into higher revenues, while network capacity requirements and investment needs continue to increase. According to the data collected, greater operating scale can strengthen mobile operators’ investment capacity without necessarily disadvantaging consumers. Indeed, in European markets with three operators, investment per connection is around 48% higher than in markets with four operators, with associated benefits for network quality, coverage and the adoption of more advanced technologies. At the same time, the study finds no significant price differences that can be attributed to the different market structure. Looking more broadly at global developments, it also highlights that between 2017 and 2025 market consolidation occurred in 35 countries, while 23 countries recorded a net increase in the number of operators. The European market as a whole has not undergone this structural adjustment process to the same extent, partly due to restrictions placed, in some instances, on consolidation transactions. This may help explain the differences between Europe and other regions in 5G development. From this perspective, consolidation transactions should also be assessed in light of their potential to generate scale efficiencies and contribute to Europe’s connectivity and competitiveness objectives.
Author: GSMA Intelligence
Publisher: GSMA
Publication date: July 2026