Mobile service revenue in China is forecast to reach $165 billion in 2024 from $153 billion in 2019, says GlobalData.
Mobile subscribers in China are expected to grow at a compound annual growth rate (CAGR) of 2.6 percent between 2019 and 2024.
LTE technology is expected to dominate in China with 47.9 percent subscriptions share in 2024 as compared with 75.7 percent in 2018.
5G is expected to hold 31.9 percent of the total mobile subscription share by the end of 2024. Mobile network operators (MNOs) such as China Mobile, China Unicom and China Telecom have launched commercial 5G services in 2020.
Mobile data revenue is expected to grow at a CAGR of 5.0 percent during the outlook period.
“One of the major driving factors of the growing monthly data usage of mobile broadband in China is the rise in consumption of online video and social media over smartphones. MNOs are offering discounts on tariffs to stay in the competition,” Kantipudi Pradeepthi, research analyst of Telecoms Market Data & Intelligence at GlobalData, said.
The average monthly churn rates in China will fall from 2.5 percent in 2019 to 2.3 percent by 2024, as MNOs promote post-paid plans with longer contract periods to balance retention of customers.
China Mobile, which has around 60 percent mobile subscription and mobile revenue share, will have nearly a billion mobile subscriptions by the end of 2024.