Thailand’s fixed telecom services market to grow at CAGR of 5.6% between 2019 and 2024, says GlobalData

The total fixed telecom services revenue in Thailand is expected to grow at a compounded annual growth rate (CAGR) of 5.6% between 2019 and 2024, led by growth in the fixed broadband service segment, according to GlobalData, a leading data and analytics company.

GlobalData’s Thailand Telecom Operators Country Intelligence Report predicts that while fixed voice revenue will continue to decline, fixed broadband service revenue will grow at a CAGR of 8.9% during the forecast period, driven by the rising adoption of fiber-to-the-home (FTTH) services, which yield higher average revenue per user (ARPU) for the operators. Fixed broadband ARPU is projected to grow from about US$20.41 in 2018 to US$23.24 by the end of 2024.

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Deepa Dhingra, Telecom Analyst at GlobalData, says: “The Government’s Universal Service Obligation (USO) initiative to deploy fiber optic network across 3,920 border villages in the country and the Net Pracharat initiative to strengthen the national broadband network by deploying high-speed Internet network covering 15,732 villages are expected to help drive the growth in fixed broadband subscriptions and boost the fixed telecom services revenue in the coming years.”

Fixed voice revenues in the country are forecast to decline at a CAGR of 7.9% over the review period due to the continuous drop in circuit switched subscriptions and the overall voice ARPU.

Dhingra concludes: “While TOT Public Company Limited currently leads the fixed voice services market, in terms of subscriptions, it will be surpassed by TrueOnline in 2024 on account of its focus on voice-over-internet-protocol (VoIP) services. TrueOnline will maintain its leadership in the fixed broadband services segment through the forecast period, driven by its strong presence in the cable segment and focus on promoting FTTH convergence plans with speeds of up to 1 Gbps.”

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