The study claims that figure would be in addition to the €2.5 trillion generated by the European mobile industry using other spectrum in the same period between 2008 and 2027.

However, the report’s authors said the size of the benefits would differ between individual Member States.

And the authors warned that “delaying the release of UHF spectrum by three years would cost Europe €20bn”.

“This UHF release to mobile will create cheaper broadband services for consumers on the move across Europe and will promote growth in the use of mobile browsing, email and video services,” said Janice Hughes, chief executive of Spectrum Value Partners.

“The move will also stimulate jobs and innovation in new companies as entrepreneurs respond to the demand for wireless web 2.0 services.”

Getting The Most Out Of The Digital Dividend was published by Spectrum Value Partners and was commissioned by Ericsson, Nokia, Orange, Telefónica and Vodafone.

Spectrum Value Partners said it was the first comprehensive economic analysis of the costs and benefits of allocating different quantities of UHF spectrum for mobile broadband and broadcast use throughout Europe.

The study also shows that, with the remainder of the band, broadcasters are expected to generate more than €750bn for the European economy during the same period, reflecting “the large individual and social benefits from terrestrial broadcasting”.