The total telecom and pay-TV services revenue in Singapore is expected to increase at a compound annual growth rate (CAGR) of 3.0% between 2019 and 2024, supported by revenue growth in mobile data and fixed broadband segments, according to GlobalData, a leading data and analytics company.
GlobalData’s Singapore Telecom Operators Country Intelligence Report predicts that mobile data will account for 26.6% of the total telecom services revenue in 2019 and will remain the largest revenue contributing segment through 2024. Mobile data revenue is projected to grow at a CAGR of 10.6% over 2019-2024 with the arrival of new 5G data plans in 2020 and beyond.
Deepa Dhingra, Telecom Analyst at GlobalData, says “4G will remain the most adopted wireless network technology through the forecast period despite its share dropping from 82.8% in 2019 to 51.1% by 2024. 5G services are expected to be commercially available in 2020, as the regulator plans to award 5G spectrum by mid-2020. 5G will represent about 47.5% share of total mobile subscriptions by 2024.”
Fixed broadband revenue will increase at a CAGR of 6.5% over 2019-2024, supported by continuous rise in the adoption of fiber network and steady rise in fixed broadband ARPU, led by rising adoption of higher-value broadband plans by operators.
In pay-TV services market, GlobalData expects a decline in revenues at a 2.5% CAGR owing to consumer shift to over-the-top (OTT) video streaming and IPTV services over fixed broadband networks.
Dhingra concludes: “The mobile services market in the Singapore has been going through major changes since the awarding of fourth telco license to TPG Telecom, which has fuelled intense price competition.”
Notes: Press Release - GlobalData - 27th December 2019