Europe has 340 million 4G subscribers, accounting for 33 percent of the total mobile subscribers — excluding M2M in 2017.

4G connections overtook 3G in 2017 and are expected to reach 64 percent of the total by 2023 in Europe.

The report said M2M will grow at a compound annual growth (CAGR) of 9 percent during the forecast period of 2017-23, accounting for 17 percent of the total, reaching 193 million connections, in 2023, said a report by Dataxis.

The telecom research report predicts that Europe will have 36 million 5G connections in 2023, taking into account commercial launch after 2020.