The telecom and pay-TV services revenue in Thailand is expected to increase at a compound annual growth rate (CAGR) of 2.8% from $9.8bn in 2024 to $11.2bn in 2029, primarily driven by the mobile broadband segment, forecasts GlobalData, a leading data and analytics company.

GlobalData’s Thailand Telecom Operators Country Intelligence Report  reveals that mobile voice service revenues will decline during the forecast period 2024-29, in line with the steady decline in mobile voice service ARPU, with operators offering unlimited free voice minutes as a part of their bundled plans.

Mobile data service revenues, on the other hand, will increase at a CAGR of 5.2% over the forecast period, driven by the continued rise in smartphone adoption, growing mobile internet subscriptions, and increasing consumption of mobile data services, on the back of increasing adoption of relatively high ARPU-yielding 5G services.

Kantipudi Pradeepthi, Telecom Analyst at GlobalData, says: “4G services accounted for a majority share of the overall mobile subscriptions in Thailand in 2024. 5G subscriptions, however, will increase at a rapid pace and surpass 4G’s share of total mobile subscriptions in 2026, driven by the rising demand and growing availability of 5G services and 5G network expansion efforts by operators across the country. For instance, True aims to modernize 10,000 sites and increase 5G coverage to 95% by the end of 2025.”

In the fixed communication services segment, fixed voice services will continue to decline, given the steady drop in circuit-switched subscriptions. Fixed broadband service revenue, on the other hand, will grow at a CAGR of 2% over 2024-29, supported by the steady increase in fiber-to-the-home/business (FTTH/B) broadband subscriptions.

Pradeepthi adds: “Growing demand for high-speed broadband connectivity, improving FTTH networks in urban areas, government and operators’ focus on expanding fiber network coverage across the country, and the gradual phasing out of DSL services will support the growth in fiber broadband subscriptions over the forecast period.”

Pay-TV services revenue in the country will increase at a CAGR of 6.6% over the forecast period, supported by the strong growth in IPTV subscriptions and steady increase in DTH and cable TV subscriber base.

Pradeepthi concludes: “True will lead the mobile service segment in terms of subscriptions in 2024, due to its strong presence in both prepaid and postpaid segments. AIS leads the fixed broadband market, supported by its strong position in the FTTH segment.”