Fixed broadband service revenue to reach $340.5b by 2029
This will be driven by the expansion of fibre-optic networks.
The total fixed broadband service revenue in Asia Pacific (APAC) is forecasted to reach $340.5b by 2029 with a compound annual growth rate of 4.6%, according to GlobalData’s report.
This will be due to the expansion of fibre-optic networks, with fibre broadband accounting for 97% of all fixed broadband lines by 2029. Singapore will account for the highest share of fibre-to-the-home lines, reaching 99.7%.
The rising demand for high-speed internet services and competitively priced fibre broadband bundled plans with unlimited internet and subscription video-on-demand platform access benefits will drive this.
Fixed broadband account penetration in the region will reach 24% by 2029, mainly driven by the ongoing expansions in emerging countries where governments are infusing investments in fixed broadband network infrastructure.
For instance, Malaysia introduced the JENDELA plan in August 2020 to enhance broadband coverage and quality by 2025. In 2022, Phase 1 successfully connected 7.7 million premises with fibre, whilst Phase 2 targets reaching 9 million premises by 2025.
On the other hand, developed Asia already has relatively high broadband penetration due to the national broadband network projects in Australia, New Zealand, and Singapore.
“China will lead the market in APAC, driven by growth in subscriptions. For instance, China’s Telecom regulator MIIT said the country has 97 new cities achieving gigabit city status in 2023 and aims that all areas along borders have gigabit fibre connectivity by 2025,” Kantipudi Pradeepthi, telecom analyst at GlobalData, said.
