Total telecommunications and pay-TV service revenue will reach $404.5 billion (€365.4bn) by the end of 2019, representing a 0.5 per cent decline over 2018, according to GlobalData, a data and analytics company.
Ivan Maldonado, Technology Analyst at GlobalData, commented: “Despite this decline, which is mainly due to declining revenues from mobile and fixed-voice data communications, total service revenue is expected to increase at a compound annual growth rate (CAGR) of 0.7 per cent between 2019 and 2024 to reach $419.4 billion by 2024 driven by growth mobile broadband and fixed broadband revenues.”
“Mobile data will remain the leading contributor to telecom service revenue over the forecast period, increasing from $131.2 billion in 2019 to $194.6 billion in 2024. Growth will be supported by the uptake of smartphone subscriptions, increasing demand for mobile data services, and growing adoption of 5G services.”
Fixed broadband revenue will expand at a CAGR of 4 per cent over the 2019-2024 period, reaching $78.5 billion in 2024. Growth will be mainly driven by increased adoption of ultrafast broadband service connections, supported by operator investments in fibre infrastructure across the country.
Maldonado adds: “Pay-TV revenue will drop from $94.4 billion in 2019 to $84 billion by 2024 as a result of cord-cutting trends.”