5G to drive Singapore’s mobile service revenue to $2.7b in 2028: GlobalData

An expert predicts that 5G subscriptions will surpass that of 4G’s in 2025.

A GlobalData report said the growing 5G adoption in Singapore will boost mobile data service revenue, reaching $2.7b (US$2b) in 2028.

GlobalData said in its Singapore Mobile Broadband Forecast (Q1-2024) that this is equivalent to a 3% compound annual growth rate (CAGR) during 2023-2028.

The analytics company also reported that mobile data service revenue will increase at 4.7% CAGR between 2023 and 2028. This will be driven by the growing consumption of mobile data services and the projected rise in higher-average revenue per user (ARPU) yielding subscriptions as 5G services become more accessible.

ALSO READ: Singapore telcos face stiff competition ahead

Meanwhile, mobile voice service revenue is projected to decline at a 5.9% CAGR over the same period as consumers shift towards over-the-top-based communication platforms and the subsequent decline in voice service ARPU levels.

GlobalData Telecom Analyst Kantipudi Pradeepthi noted that 4G will remain on top in terms of subscription until 2024, but 5G will surpass its level in 2025, “occupying an impressive 88% share of the total mobile subscriptions by the end of 2028.”

This will be due to rising demand for high-speed data services, ongoing 5G network expansions by mobile network operators, and a subsequent increase in availability.

Singtel will continue to be the dominant player in terms of subscription until 2028, with its strong prepaid and postpaid segments, and 5G expansion, GlobalData said.

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