Mobile data to drive overall mobile services market in India during 2023-2028 – GlobalData

Mobile data service revenue will increase at a healthy CAGR of 7.1% between 2023 and 2028, driven by the growing availability of 4G/5G networks across the country. #pressrelease

May 30, 2024

1 Min Read

India's mobile services revenue is poised to increase at a compound annual growth rate (CAGR) of 3% from $27.7 billion in 2023 to $32.6 billion in 2028, mainly driven by the robust growth in mobile data services segment, according to GlobalData, a leading data and analytics company.

GlobalData's India Mobile Broadband Forecast Pack (Q1-2024) reveals that the mobile voice service revenue will decline at a CAGR of 2.1% between 2023 and 2028, owing to the growing consumer preference for internet-based communication services and the subsequent decline in voice service average revenue per user (ARPU) levels. Mobile data services will however offset this decline in mobile voice service revenue during the forecast period.

Mobile data service revenue will increase at a healthy CAGR of 7.1% between 2023 and 2028, driven by the growing availability of 4G/5G networks across the country, increasing consumption of mobile data services, continued rise in smartphone subscriptions and projected rise in higher-ARPU yielding-5G subscriptions.

4G will remain the leading mobile technology in terms of subscriptions through 2028, driven by the operators' LTE network expansions. 5G subscriptions, on the other hand, are estimated to increase at the fastest rate over the forecast period and are expected to garner about 45% share of the total mobile subscriptions by the end of 2028, driven by the ongoing 5G network investments and expansions by operators and proliferation of 5G-enabled smartphones.

Read the full press release here.

GlobalData

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like