According to analytics firm GlobalData, this growth will be in part thanks to conducive telecom policies and rapid mobile and fibre network rollouts.
A specific example cited is mobile data revenues in India, which the report says will increase at a CAGR of 9.5% from an estimated US$7 billion in 2019 to US$11 billion by the end of 2024. This will be driven by increasing smartphone subscriptions and the growing adoption of 4G services with high ARPU.
The report also says that fixed broadband revenues will increase at a CAGR of 5% over 2019-2024 to reach US$4 billion by the end of 2024, supported by the increasing adoption of high-speed fibre-optic services.
A significant factor in all of this is a rise in purchasing power and growth in OTT services which is expected to boost the ARPU in both the emerging and developed countries of the region.
Early use cases such as fixed wireless and enhanced mobile broadband will drive the 5G services adoption.
Amit Sharma, project manager of telecoms market data and intelligence at GlobalData, said: “In the later part of the forecast period, use cases such as massive machine-type communications and ultra-reliable low-latency communications will help in the growth of 5G services.
“The major drivers of the mobile and fixed communication broadband adoption in the region during the forecast period are supportive government policies to speed up national broadband deployment projects, long-term evolution (LTE) network rollouts and increased adoption of fibre-to-the-x (FTTx) network.”
Sharma continued: “In the developed APAC region, the expansion of fibre network and planned 5G network roll-outs will play an important role in increasing the overall telecom revenues. In addition, 4G technology will remain a major mobile communication technology till 2024, constituting more than 80% of total mobile subscriptions by the end of 2024.”