Europe was late to the game in terms of LTE deployments and is determined not to be behind the curve when it comes to researching, developing and deploying "5G" networks. The stakes are high: operators, equipment manufacturers, regulators and standards bodies are all now working in various collaborative ways to turn what is currently a long list of requirements into a standard for 5G. Currently, standardization work is expected to take place in 2015 or 2016, with 2020 currently extolled as the magic date when elements of 5G networks will appear in commercial networks. In Europe, 5G momentum has accelerated this year, with the European Union's Horizon 2020 research budget set at €6.2 billion ($7.62 billion), of which €700 million ($861 million) has been allocated to 5G research. For more on what European operators and vendors are doing to stay on top of 5G development, check out this FierceWireless:Europe special report.