Mobile service revenue in Singapore is projected to reach $2.1 billion in 2027 at a CAGR of 3 percent from 2022 to 2027 — thanks to demand for 5G-driven mobile data services, according to GlobalData.
Mobile voice service revenue in Singapore will decline at a 4.6 percent CAGR over the forecast period due to the shift towards over-the-top (OTT) based communication platforms and the subsequent decline in voice service average revenue per user (ARPU) levels.
Mobile data service revenue in Singapore will increase at a CAGR of 7.2 percent between 2022 and 2027, driven by the rise in higher-ARPU yielding 5G mobile subscriptions as 5G services become more widely available across the country.
The average monthly data usage in Singapore will increase from 9.4GB in 2022 to 23.6GB in 2027, driven by the consumption of online video and social media content over smartphones, on the back of 5G network expansion and thanks to data-centric offers extended by MNOs with their 5G service plans.
4G will remain the leading mobile technology in Singapore, in terms of subscriptions, until 2024. 5G service will see its subscriptions surpass 4G service subscriptions in 2025 and is expected to corner an impressive 76 percent share of the total mobile subscriptions by the end of 2027.
Singtel will dominate the mobile services market in Singapore in terms of subscription through 2027, given its focus on 5G network developments and expansion across the country.
Moreover, Singtel is seeking partnership and collaboration opportunities with system integrators, app developers, IoT solution providers and other ecosystem partners to develop new 5G solutions and use cases targeted at its enterprise customers in Singapore.