Thailand’s telecom and pay-TV services revenue is projected to remain flat, averaging just about $10 billion annually, with a compound annual growth rate (CAGR) of just about 0.1% through the forecast period 2024-2029, as steady growth in the fixed broadband, mobile data, and pay-tv segments is weighed down by revenue declines in mobile voice, messaging and fixed voice segments, reveals GlobalData, a leading intelligence and productivity platform.
GlobalData’s Thailand Telecom Operators Country Intelligence Report reveals that the mobile voice service revenue in the country is expected to decline during the forecast period, in line with the steady drop in mobile voice ARPU levels as consumers increasingly shift to internet/app based communication platforms and operators bundle free voice minutes as a part of their service plans.
Mobile data service revenue, on the other hand, is expected to increase at a marginal CAGR of 0.7% over the forecast period, with continued growth in smartphone penetration, increase in mobile broadband subscriptions, especially on 5G networks, and rising consumption of premium data plans to access high-bandwidth services.
Sarwat Zeeshan, Telecom Analyst at GlobalData, comments: “While 4G service accounted for a majority share of the total mobile subscriptions in Thailand in 2024, 5G service will see massive increase in its adoption in the coming years and become the leading mobile technology generation, by subscriber base in 2029. This growth in 5G adoption will be driven by growing demand for higher-speed wireless services, ongoing 5G network expansion efforts by the government and operators across the country, and widespread availability and affordability of 5G smartphones.”
In the fixed communication services segment, fixed voice service revenue is expected to decline over the forecast period due to a steady drop in circuit-switched subscriptions and a decline in fixed voice ARPU over the forecast period. Fixed broadband service revenue, on the other hand, is forecast grow at a CAGR of 2.9% over 2024-29 period, driven by growing adoption of relatively higher ARPU fiber-to-the-home (FTTH) broadband services.
Zeeshan adds: “The growing adoption of FTTH broadband services in Thailand can be attributed to increasing demand for high-speed broadband services among households and business establishments, and the ongoing fiber network coverage expansion efforts by operators.”
Zeeshan concludes: “In the mobile services segment, Tru Corp is expected to remain the market leader by subscription share through the forecast period, given its strong focus on mobile network expansion and modernization efforts. AIS’s leadership in the fixed broadband segment will be driven by its extensive fiber network coverage and growing FTTH subscriber base.”
