Omdia: Fast-growing digital consumer services markets worth $513B by 2027

Nontraditional categories of digital gaming, online video, messaging apps, smart home, and digital music have projected five-year CAGRs of 5%-21%. #pressrelease

April 11, 2023

1 Min Read

LONDON – Nontraditional categories of digital gaming, online video, messaging apps, smart home, and digital music are showing faster growth, with projected five-year CAGRs of 5%-21% according to new research from Omdia. Although of smaller value than established telco services such as mobile data, pay TV and broadband, these fast-growing markets will be worth $513bn by 2027, the two biggest areas being digital gaming and online video.

Other areas offering strong future potential for telcos include e-health and financial services, and several leading players have already started to invest in these spaces. SK Telecom owns South Korea's most popular online store with over 34 million active customers, while Vodacom South Africa has over 1.1 million monthly active users (MAUs) for its VodaPay service.

All growth areas, however, will experience significant competition from hyperscalers - specifically the global tech giants Google, Amazon, Meta, and Apple.

To assist service providers in developing their future digital service roadmaps, Quantifying the Consumer Telco Opportunity – 2023 is an in-depth report providing analysis and insights drawn from Omdia's related data tools as well as individual operator case studies.

Read the full press release here.

Omdia

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