Mobile service revenue in India was predicted to yield a compound annual growth rate (CAGR) of 3% from US$27.7 billion in 2023 to US$32.6 billion by 2028, due to adoption of data services, according to analyst company GlobalData.
Mobile voice service revenue will decline at a CAGR rate of 2.1% between 2023 and 2028 as consumers shift towards data-based services, which will offset this decline. However, ARPU will dip, no numbers were detailed in this regard.
Mobile data service revenue will increase at a CAGR rate of 7.1% in the same time period driven by availability of 4G/5G networks nationwide, and subscription of higher ARPU driving 5G devices.
GlobalData Telecom Analyst, Hrushikesh Mahananda, said: “The average monthly data usage is forecast to increase from 16.4GB in 2023 to 37.4GB in 2028, driven by the growing consumption of online video and social media content over smartphones, on the back of data-centric packages offered by MNOs.”
Despite the rise of 5G networks and device, 4G will be stay the leading mobile technology throughout until 2028 as operators continue to expand their LTE coverage.
However, the growth rate of 5G subscriptions is expected to be the fastest over the five-year period, driven by the ongoing 5G network investments and expansions by operators and proliferation of 5G-enabled smartphones.
Mahananda added: “Reliance Jio will lead the mobile services market in terms of subscriptions through 2028 given its strong focus on 4G and 5G network developments and expansion across the country catering to the rising demand for high-speed services by customers.”
