Connect with us


5G beacon of hope in stagnated Hong Kong mobile services market

The mobile services market in Hong Kong faces stagnation, with limited overall revenue growth projected despite the anticipated surge in 5G service adoption. While 5G represents a positive trend, the industry is expected to witness only marginal expansion, from $2.7 billion in 2023 to $2.9 billion in 2028, forecasts GlobalData, a leading data and analytics company.

GlobalData’s Hongkong Mobile Broadband Forecast Model predicts mobile data service revenue growth in Hong Kong. On the other hand, mobile voice and messaging services’ revenue is expected to decline, indicating a shifting trend towards data-centric communication and consumption patterns.

Subba Reddy, Telecom Analyst at GlobalData, says: “The growth in the data service revenue can be primarily attributed to the projected rise in 5G subscriptions, which is largely due to the efforts of telecom operators to promote and expand their 5G services throughout the country.”

Though 4G services currently account for majority (61%) of the total mobile subscriptions in the country, 5G subscriptions are projected to grow at a compound annual growth rate (CAGR) of 18.9% between 2023 and 2028 and will go on to account for 79% of total subscriptions in 2028.

Reddy concludes: “The average monthly mobile data usage is expected to grow significantly from 7GB in 2023 to 23GB in 2028. This surge is largely due to the increasing consumption of online video and social media content on smartphones, which is supported by the operators’ data-centric plans and increasing availability and adoption of 5G services.

“While PCCW will lead the post-paid segment, by subscriptions, China Mobile will top the pre-paid segment, by subscriber share through the forecast period 2023-2028. Both players will stand to gain from their continued investments in 5G infrastructure developments. PCCW and China Mobile have achieved nationwide 5G coverage exceeding 90% to date, which serves as a significant advantage.” GlobalData

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!