Trends
APAC mobile industry poised to surpass $1T by 2030
OUR TAKEThe mobile industry in the APAC region is rocketing towards the $1 trillion mark! 5G is spreading rapidly in places like Australia and India, akin to a technological land grab. Its growth rate, exceeding the global average by 3%, is thanks to smart factories and IoT devices, which are levera…
Headline
OUR TAKEThe mobile industry in the APAC region is rocketing towards the $1 trillion mark! 5G is spreading rapidly in places like Australia and India, akin to a technological land grab. Its growth rate, exceeding the global average by 3%, is thanks to smart factories and IoT…
Context
OUR TAKE The mobile industry in the APAC region is rocketing towards the $1 trillion mark! 5G is spreading rapidly in places like Australia and India, akin to a technological land grab. Its growth rate, exceeding the global average by 3%, is thanks to smart factories and IoT devices, which are leveraging 5G to revolutionise manufacturing. Financial institutions and governments are also embracing digital transformation, with 5G as their new darling. Telecom operators are eagerly investing in AI innovation, fearing to miss out on the next tech boom. The Global Telco AI Alliance’s work on large language models is thrilling, hinting at a massive storm brewing in the APAC mobile industry over the next eight years. –Miurio huang, BTW reporter The Asia-Pacific (APAC) mobile industry is projected to exceed $1 trillion by 2030, driven by the accelerated adoption of 5G technologies throughout the region. This projection comes from the GSMA’s Mobile Economy Asia-Pacific 2024 report, which details the economic impact and future growth of mobile technologies in the APAC region. In 2023, mobile technologies and services contributed 5.3% to APAC’s GDP, amounting to $880 billion in economic value. The proliferation of commercial 5G networks in key markets such as Australia, India, Japan, the Philippines, Singapore, South Korea, and Thailand is expected to further enhance this growth trajectory.
Evidence
Pending intelligence enrichment.
Analysis
Between 2023 and 2030, the mobile industry’s contribution to the APAC economy is anticipated to increase by 15%, surpassing the global average growth rate of 12% for the same period. The manufacturing sector is set to benefit significantly from this growth, particularly through new 5G-enabled applications like smart factories, smart grids, and Internet of Things (IoT) products. Additionally, financial services and public administration are poised to leverage 5G to digitally transform their operations. The growing integration of artificial intelligence (AI) is also expected to bolster the mobile industry’s expansion in APAC. Operators across the region are investing in generative AI to enhance internal processes and create new revenue streams. Notably, the Global Telco AI Alliance, comprising Singtel, SK Telecom, Softbank, and e&, is working on developing telecom-specific large language models to further drive innovation. Also read: APAC CDN Summit 2024: Looking to the future of CDN technology Also read: Nokia sees lowest quarterly revenue since 2015 amid 5G slump
Key Points
- The Asia-Pacific (APAC) mobile industry is projected to exceed $1 trillion by 2030, driven by the accelerated adoption of 5G technologies throughout the region.
- The rapid adoption of 5G and the integration of AI technologies are setting APAC apart as a leader in technological innovation and economic development.
Actions
Pending intelligence enrichment.
