APAC mobile services market to surpass $347b by 2030 on 5G Boom

Mobile data dominated revenue as usage doubles and voice income declines across the region, GlobalData says.

The Asia-Pacific mobile services market is projected to exceed $347b by 2030, driven by the continued rollout and adoption of 5G, according to data analytics and consultancy firm GlobalData.

In a study, GlobalData said the market is expected to expand at a compound annual growth rate (CAGR) of 2.8% from 2024, supported primarily by rising demand for mobile data services.

Mobile data will remain the largest contributor to telecom service revenues in the region over the period with the increase attributed to higher consumption of video streaming, social media, and other data-intensive applications, the report noted.

Average monthly data usage per user in the region is forecast to increase to 48.6 GB by 2029 from 25.1 GB in 2024, reflecting continued growth in data traffic, the report said.

The expansion of 5G networks is expected to support revenue growth by enabling higher data usage and increased average revenue per user (ARPU), according to GlobalData.

Governments across key markets, including China, India, Japan, South Korea, and Australia, are supporting 5G deployment through spectrum allocation and national development strategies.

China is expected to remain the largest 5G market globally over the forecast period with GlobalData estimating that 5G will account for around 90% of total mobile subscriptions in the country by 2029.

In contrast, mobile voice service revenue is projected to decline at a CAGR of 5.7%, due to the continued shift of users to over-the-top (OTT) communication platforms.

The report added that markets such as China, Japan, and South Korea are also advancing 5G ecosystem development, including applications in areas such as IoT and enterprise services.