Rising Digital Consumption In Asia-Pacific Fuels Mobile Services Market
The APAC market is projected to reach $373.40 billion by 2026, says Frost & Sullivan
Frost & Sullivan’s recent analysis reveals that the mobile services market in Asia-Pacific (APAC) is witnessing increased mobile applications consumption. This provides communication service providers (CSPs) with long-term growth opportunities and revenue generation via new business models and ecosystem collaboration. The market, comprising mobile voice and SMS, mobile data, and mobile digital services, is projected to reach $373.40 billion by 2026 from $329.50 billion in 2020 at a compound annual growth rate (CAGR) of 2.1%. By 2026, mobile data is expected to contribute 68.5% of the overall revenue, followed by digital services at 22% and voice and SMS at 9.6%.
“As the market experiences a rise in remote working, online learning, and demand for entertainment, connectivity has become crucial. This has led to an increase in the demand for mobile data and a surge in mobile data revenue for CSPs,” said Sofea Zukarnain, Information & Communication Technology Research Analyst at Frost & Sullivan. “Many countries in APAC witnessed a hike in the usage of digital services, such as mobile financial services, eCommerce applications, and mobile gaming. As a result, CSPs in the region are either launching or improving digital services through strategic partnerships with players in the vertical industries.”
Zukarnain added: “There is an increase in the demand for mobile use cases within different vertical markets such as healthcare, education, and financial services. Furthermore, the rapid adoption of disruptive technologies, such as the Internet of Things (IoT), 5G network, and artificial intelligence (AI), allow market participants to explore strategies to gain market share. At the same time, robust network infrastructure, digital service innovation, and vertical industry collaboration are best practices observed in this region. These best practices are boosting revenues, aiding the development of new business models for CSPs, and maximizing value for end-users.”
To tap into the growth opportunities, market participants should look at:
- Network infrastructure and spectrum investments to optimize user experience: CSPs in the region could consider passive and active infrastructure sharing to improve network infrastructure and realize cost-saving benefits.
- Customer-centric digital transformation to capture emerging opportunities: In the current business landscape of remote working and digital collaborations, CSPs must consider implementing disruptive technologies such as AI and IoT to compete in the market. They should also enhance product offerings and digital capabilities to provide value-added services for customers beyond connectivity.
- 5G use cases deployments for new business models: CSPs should accelerate 5G deployments to deliver new services and generate additional returns through partnerships and industry collaborations.
Asia-Pacific Mobile Services Growth Opportunities is the latest addition to Frost & Sullivan’s Information & Communication Technology research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
Recommended AI News: Tencent Cloud Named In Magic Quadrant For Cloud Infrastructure And Platform Services