5G to drive Singapore’s mobile service revenue to over $2b in 2028
The expected growth is due to the rising demand for 5G subscriptions, network expansions
Singapore’s overall mobile service revenue is forecasted to reach $2.1b by the end of 2028, due to the growing adoption of 5G services in the country.
Analytics company GlobalData revealed in its Singapore Mobile Broadband Forecast (Q1-2024) that mobile data service revenue in the country will increase at a compound annual growth rate (CAGR) of 4.7% between 2023 and 2028.
This will be brought about by the growing consumption of mobile data services and the projected rise in higher average revenue per user (ARPU) yielding 5G subscriptions as the service becomes more widely available across the city-state.
“Though 4G will remain the leading mobile technology, in terms of subscriptions, until 2024, 5G service will see its subscriptions surpass 4G subscriptions in 2025, occupying an impressive 88% share of the total mobile subscriptions by the end of 2028,” GlobalData Telecom Analyst Kantipudi Pradeepthi said.
“This growth in 5G subscriptions will be primarily driven by rising demand for high-speed data services, ongoing 5G network expansions by mobile network operators (MNOs), and a subsequent increase in the availability of 5G services across the nation,” Pradeepthi added.
According to GlobalData, leading local operator Singtel will continue to dominate the mobile services market in terms of subscriptions through 2028 given its strong position in both the prepaid and postpaid segments and its focus on 5G network developments and expansion in the country.
