The multiplay service market in Singapore is set for steady growth over the first half of the 2020s.
According to GlobalData, revenue generated from multiplay service bundles in the country from operators such as Singttel and Starhub will grow at 7% CAGR over 2020-2025. The firm says that this is largely due to rise in household penetration of multiplay service bundles and increase in average monthly household spending on tripleplay and quadplay services.
As a result, the multiplay services market in Singapore will increase from US$1.09 billion in 2020 to US$1.53 billion in 2025.
The report also notes that multiplay service penetration will increase from an estimated 74% in 2020 to 85.8% by the end 2025. This, it says, is supported by fiber-optic network expansion by fixed operators to deliver bundled plans built around high speed Internet services.
Kantipudi Pradeepthi, research analyst of Telecoms Market Data & Intelligence at GlobalData, said: “Tripleplay services will account for the largest share of multiplay subscriptions in Singapore through the forecast period while quadplay services will see its subscription share grow from 9.8% in 2020 to 15.3% in 2025. However, doubleplay subscriptions will see a drop in the share of total subscriptions from 23.3% in 2020 to 17.9% by 2025.
“Singtel and Starhub are leveraging their vast fiber-to-the-home (FTTH) network to accelerate multiplay adoption, with the goal of lowering churn and increasing revenue-generating units (RGUs). Singtel will continue to lead the tripleplay and quadplay segments in terms of subscriptions through 2025, driven by promotional discount offers on bundled telecom plans to attract new subscribers.”
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