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Aug 12, 2021, 07:33 ET
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The APAC market is projected to reach $373.40 billion by 2026, says Frost & Sullivan
SANTA CLARA, Calif., Aug. 12, 2021 /PRNewswire/ — Frost & Sullivan’s recent analysis reveals that the mobile services market in Asia-Pacific (APAC) is witnessing increased mobile applications consumption. This provides communication service providers (CSPs) with long-term growth opportunities and revenue generation via new business models and ecosystem collaboration. The market, comprising mobile voice and SMS, mobile data, and mobile digital services, is projected to reach $373.40 billion by 2026 from $329.50 billion in 2020 at a compound annual growth rate (CAGR) of 2.1%. By 2026, mobile data is expected to contribute 68.5% of the overall revenue, followed by digital services at 22% and voice and SMS at 9.6%.
For further information on this analysis, Asia-Pacific Mobile Services Growth Opportunities, please visit: http://frost.ly/62l.
"As the market experiences a rise in remote working, online learning, and demand for entertainment, connectivity has become crucial. This has led to an increase in the demand for mobile data and a surge in mobile data revenue for CSPs," said Sofea Zukarnain, Information & Communication Technology Research Analyst at Frost & Sullivan. "Many countries in APAC witnessed a hike in the usage of digital services, such as mobile financial services, eCommerce applications, and mobile gaming. As a result, CSPs in the region are either launching or improving digital services through strategic partnerships with players in the vertical industries."
Zukarnain added: "There is an increase in the demand for mobile use cases within different vertical markets such as healthcare, education, and financial services. Furthermore, the rapid adoption of disruptive technologies, such as the Internet of Things (IoT), 5G network, and artificial intelligence (AI), allow market participants to explore strategies to gain market share. At the same time, robust network infrastructure, digital service innovation, and vertical industry collaboration are best practices observed in this region. These best practices are boosting revenues, aiding the development of new business models for CSPs, and maximizing value for end-users."
To tap into the growth opportunities, market participants should look at:
Asia-Pacific Mobile Services Growth Opportunities is the latest addition to Frost & Sullivan’s Information & Communication Technology research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Asia-Pacific Mobile Services Growth Opportunities
Global Corporate Communications
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SOURCE Frost & Sullivan
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