Source: GlobalData
Mobile service revenue in Australia to increase at 3.4% CAGR over 2024-2029, forecasts GlobalData
Posted in Technology
The total mobile service revenue in Australia is poised to increase at a compound annual growth rate (CAGR) of 3.4% from $9.6 billion in 2024 to $11.3 billion in 2029, supported by growth in mobile data service revenues, according to GlobalData, a leading data and analytics company.
GlobalData’s research reveals that the growth in mobile data service revenue will offset the decline in mobile voice service revenue during the forecast period. While mobile voice service revenue will decline at a CAGR of 2.7% during 2024-2029, due to the consumer shift towards OTT communication platforms and subsequent decline in mobile voice ARPU, mobile data service revenue will increase at a CAGR of 4.5%, driven by the continued rise in mobile internet subscriptions, growing adoption of 5G services and an increase in mobile data average revenue per user (ARPU) over the forecast period.
Neha Mishra, Telecom Analyst at GlobalData, comments: “The average monthly mobile data usage in Australia is expected to increase from 14.1 GB in 2024 to 25.8 GB in 2029, driven by the growing consumption of online video and social media content over smartphones, thanks to the data-centric offers extended by telcos with their 4G and 5G service plans.”
GlobalData expects 5G service adoption to increase over the forecast period, driven by the growing consumer demand for high-speed connectivity and the ongoing 5G network expansions by major telecom operators across the country. For instance, Telstra plans to expand 5G coverage up to 95% of the population by 2025-end. 5G subscriptions will account for the majority 86% share of total mobile subscriptions in 2029.
Mishra concludes: “Telstra led the mobile services market in Australia in terms of mobile subscriptions in 2024, followed by Optus. Telstra will retain its leading position through to 2029, supported by its strong focus on 5G network expansion and modernization initiatives.”