25 Sep 2020
Posted in Technology
M2M/IoT and mobile Internet to drive highly saturated mobile market growth in Hong Kong, forecasts GlobalData
The highly saturated mobile services market in Hong Kong will see a further rise in mobile subscription penetration from 243.2% in 2020 to 267.1% by 2025-end, led by growing penetration of machine-to-machine (M2M)/Internet of things (IoT) services and rising mobile Internet subscriptions on the back of 5G network expansion, according to GlobalData, a leading data and analytics company.
GlobalData’s Hong Kong Telecom Operators Country Intelligence Report reveals that though 4G service is currently the leading mobile technology in Hong Kong, 5G service will go on to corner 61.3% share of the total mobile subscriptions by the end of 2025. This growth will be primarily supported by the efforts of the regulator and the government support to boost 5G infrastructure deployment in the country.
Deepa Dhingra, Telecom Analyst at GlobalData, says: “Mobile communication services market in Hong Kong will remain fairly resilient during the COVID-19 crisis in 2020. Mobile service revenues will grow at a 2.7% CAGR over 2020-2025 with mobile data revenue offsetting the steady decline in mobile voice and mobile messaging service revenues. Mobile data revenues will grow at a 5.8% CAGR over 2020-2025, driven by rising consumption of high-bandwidth online video services over smartphones and the projected rise in the adoption of higher value 5G plans, which will boost mobile average revenue per user (ARPU).
“PCCW will lead the mobile services market in Hong Kong in terms of mobile subscriptions in 2020, closely followed by China Mobile Hong Kong (CMHK). PCCW will remain market leader through 2025, supported by its strong focus on postpaid segment and expansion of 5G network coverage.”