5G to drive Singapore mobile revenue to $2bn
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5G to drive Singapore mobile revenue to $2bn

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5G will drive Singapore’s mobile service revenue to over US$2.1 billion in 2027 according to forecasts from GlobalData.

GlobalData’s Singapore Mobile Broadband Forecast (Q1-2023) reveals that mobile voice service revenue will decline at a 4.6% CAGR over the forecast period due to the widespread consumer shift towards over-the-top (OTT) based communication platforms and the subsequent decline in voice service average revenue per user (ARPU) levels.

Mobile data service revenue will increase at a CAGR of 7.2% between 2022 and 2027 and will be driven by growing consumption of mobile data services.

Hrushikesh Mahananda, telecoms research analyst at GlobalData said: “The average monthly data usage will increase from 9.4GB in 2022 to 23.6GB in 2027, driven by the increasing consumption of online video and social media content over smartphones, on the back of 5G network expansion and thanks to data-centric offers extended by MNOs with their 5G service plans.

The research firm adds that 4G will remain the leading mobile technology, in terms of subscriptions, until 2024 ad 5G service will see its subscriptions surpass 4G service subscriptions in 2025.

The technology is expected to corner around 76% share of the total mobile subscriptions by the end of 2027.

The growth in 5G subscriptions will be down to ongoing 5G network expansions by mobile network operators and an increase in the commercial 5G adoption to support M2M/IoT implementations and smart city applications.

“Singtel will continue to dominate the mobile services market in terms of subscription through 2027, given its strong focus on 5G network developments and expansion across the country,” Mahananda says.

“Moreover, the operator is actively seeking partnership and collaboration opportunities with system integrators, app developers, IoT solution providers and other ecosystem partners to develop new 5G solutions and use cases targeted at its enterprise customers.”

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