The fixed communication services revenue in Singapore is expected to decline at a compound annual growth rate (CAGR) of 1.4 percent from $726 million in 2022 to $677 million in 2027 due to the steady drop in circuit switched subscriber lines, and slower growth in fixed broadband subscriptions, according to report from GlobalData.
Circuit switched subscriptions in Singapore are expected to drop at a CAGR of 2.3 percent CAGR over 2022-2027 as users continue to shift towards mobile and internet-based communication services, GlobalData’s Singapore Fixed Communication Forecast (Q1 2023) reveals.
The fixed voice service ARPU in the residential and business segments in Singapore is expected to decline from $3.92 to US$3.42 and $20.23 to $13.89, respectively, between 2022 and 2027, which will lead to a considerable drop in the total fixed voice service revenues.
Fixed broadband service revenue in Singapore is expected to increase at a CAGR of 1.2 percent over the forecast period, mainly led by the growing demand and adoption of high-speed fiber broadband services.
“Thanks to the country’s full-fiber network agenda and backed by investments from NetLink NBN Trust in fiber network expansions, fiber broadband is already the unchallenged fixed broadband technology in the country, accounting for 99.7 percent share of the total fixed broadband lines as of 2022,” Pradeepthi Kantipudi, Telecom Analyst at GlobalData, said.
Singtel has led the fixed voice and fixed broadband segments in Singapore in 2022, by subscriber share followed by StarHub and M1.
StarHub is expected to make rapid progress in Singapore driven by its strong focus on the growing voice-over-Internet protocol (VoIP) and fixed-broadband services segment supported by various promotional offers.
Though Singtel’s broadband base is still expected to grow on an absolute basis, StarHub’s subscriber base to grow at a higher rate in Singapore.