Thailand mobile services revenue to grow at CAGR of 1.9% during 2019-2024, says GlobalData.

The total mobile services revenue in Thailand is expected to increase at a sluggish compound annual growth rate (CAGR) of 1.9% during 2019-2024, supported by the revenue growth in mobile data segments which will offset the decline in revenues from mobile voice and messaging segments, according to GlobalData, a leading data and analytics company.

GlobalData’s Thailand Telecom Operators Country Intelligence Report forecasts that mobile data will account for 55.1% of the total mobile services revenue in 2019 and will remain the largest revenue contributing segment through 2024.

Mobile data revenue is projected to grow at a CAGR of 5.0% over 2019-2024, even as revenues from mobile voice and messaging will decline at a CAGR of 1.0% and 16.7%, respectively, during the same period.

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Deepa Dhingra, Telecom Analyst at GlobalData, says: “4G will remain the most adopted mobile network technology through the forecast period, with its share of total mobile subscriptions set to increase from 60.2% in 2019 to 74.7% in 2024, primarily due to the ongoing expansion of 4G networks by operators such as dtac.”

Though the regulator plans to award 5G spectrum in February 2020, mobile network operators (MNOs) are expected to commercially launch 5G services not before 2022 and as a result 5G is forecast to constitute around 18.0% share of the total mobile subscriptions by 2024.

Dhingra concludes: “Advanced Info Service (AIS) will remain the market leader in the mobile market during the forecast period, essentially due to its strong foothold in the prepaid segment. To retain its market position in the mobile segment, the operator has been aggressively investing in 5G network development. The company completed its first 5G trial using 26GHz spectrum in November 2018.”

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