Driven by 5G service expansions, mobile broadband services revenue in the Asia-Pacific region is expected to grow at a compound annual growth rate (CAGR) of 5.2% from $229.6 billion in 2024 to $296.2 billion by 2029, according to a new report.
This growth will primarily be driven by the increasing availability and adoption of 5G services across several countries, according to GlobalData, a leading data and analytics company.
The unique mobile user penetration in the Asia-Pacific population is expected to reach 82.9% by 2029, driven by expanded mobile network coverage, particularly in underserved countries, and promotional/discounted plans offered by operators to drive subscriber growth.
The report also notes that in developed Asia, the number of mobile users will increase at a sluggish CAGR of 0.4% due to the saturated nature of these markets.
In contrast, emerging Asia will see faster growth in the number of mobile users, supported by the growing availability of affordable handsets and local governments’ efforts to improve and expand mobile network coverage.
“With 5G services already available in most developed countries like China, Japan, Australia, Hong Kong, India, and Korea, and set to be launched soon in emerging markets like Bangladesh, Pakistan, and Sri Lanka, revenue prospects for the mobile data segment will remain strong throughout the forecast period,” said Sarwat Zeeshan, telecom analyst at GlobalData.
Government support for 5G expansion will further strengthen the mobile data services market in the region.
Taiwan, Singapore, China, South Korea, and Japan are key 5G markets in terms of 5G subscriptions as a percentage of total subscriptions.
Taiwan is expected to have 94.6% of mobile subscribers on 5G by 2029, thanks to government efforts to promote 5G technology in the country.
“APAC has also become the center of a technological race for 5G+ supremacy,” said Zeeshan.
(Inputs from IANS)
