The increasing use of 5G services in Singapore is expected to boost revenue and innovation in the telecom industry, offsetting the decline in mobile voice service revenue. By the end of 2029, the total mobile service revenue in the country is projected to reach USD 2 billion, growing at a steady compound annual growth rate (CAGR) of 0.8% from 2024 to 2029, according to GlobalData.
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GlobalData's Singapore Mobile Broadband Forecast (Q4-2024) indicates that mobile voice service revenue will decrease at a CAGR of 5.4% over the forecast period due to the increasing use of over-the-top (OTT) communication platforms by consumers, leading to a drop in voice service average revenue per user (ARPU). On the other hand, mobile data service revenue is expected to grow at a healthy CAGR of 5.2% between 2024 and 2029, driven by the rising consumption of mobile data services and the expected increase in higher-ARPU 5G subscriptions as 5G services become more widely available in the country.
Kantipudi Pradeepthi, a Telecom Analyst at GlobalData, predicts that 4G will remain the dominant mobile technology in terms of subscriptions until 2024. However, 5G subscriptions are expected to surpass 4G subscriptions in 2025 and are projected to make up 90% of total mobile subscriptions by the end of 2029. This growth in 5G subscriptions will be fueled by the increasing demand for high-speed data services, the ongoing expansion of 5G networks by mobile network operators (MNOs), and the subsequent increase in 5G service availability nationwide.
Singtel is expected to maintain its lead in the mobile services market in terms of subscriptions through 2029, due to its strong presence in both prepaid and postpaid segments and its focus on developing and expanding 5G networks across the country. In February 2025, Singtel upgraded its 5G service to 5G+ by deploying the 700 MHz spectrum, resulting in stronger signals (up to 40%) in high-rise indoor and underground locations, wider coverage in remote areas, and improved connectivity for consumers and businesses.
Pradeepthi concluded, “Singapore’s telecom market is undergoing a pivotal transformation, with 5G adoption serving as the key driver of future growth. The shift towards data-centric services, coupled with strong infrastructure investments by major players like Singtel, will not only sustain market stability but also pave the way for innovation in IoT (Internet of Things), M2M (machine-to-machine) services, and advanced connectivity solutions, positioning Singapore as a regional telecom leader.”
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