Mobile broadband market in Asia-Pacific to reach $296 billion by 2029
Mobile broadband services revenue in the Asia-Pacific region is poised for significant growth, with projections indicating a compound annual growth rate (CAGR) of 5.2% from $229.6 billion in 2024 to $296.2 billion by 2029, according to a new report by GlobalData, a leading data and analytics company. This surge will be fueled by the widespread adoption and expansion of 5G services across multiple countries in the region.
As 5G services continue to roll out, mobile network coverage is expected to expand significantly, especially in underserved countries. This expansion, combined with attractive promotional and discounted plans offered by operators, is projected to drive strong subscriber growth. By 2029, the unique mobile user penetration in the Asia-Pacific region is forecasted to reach 82.9%, further bolstered by growing demand for mobile broadband services.
“5G services are already available in many developed countries, including China, Japan, Australia, Hong Kong, India, and South Korea, with emerging markets such as Bangladesh, Pakistan, and Sri Lanka set to launch 5G soon,” said Sarwat Zeeshan, telecom analyst at GlobalData. “This broad adoption will continue to fuel strong revenue prospects for the mobile data segment throughout the forecast period.”
The report notes that while mobile user growth in developed Asia will be modest, growing at a CAGR of only 0.4% due to market saturation, emerging Asia will experience much faster expansion. This growth is being supported by the increasing availability of affordable mobile handsets and efforts by local governments to enhance mobile network infrastructure.
Government support for 5G expansion is expected to play a crucial role in the region’s growth, with key markets like Taiwan, Singapore, China, South Korea, and Japan leading the way. Taiwan, in particular, is expected to have 94.6% of its mobile subscribers on 5G by 2029, thanks to strong government efforts to promote the technology.
“As the center of a technological race for 5G+ supremacy, the Asia-Pacific region is set to remain at the forefront of mobile broadband innovation,” added Zeeshan.
Overall, the increasing availability of 5G services, combined with expanding network coverage and government support, will position Asia-Pacific as a global leader in mobile broadband services over the next several years.
