The mobile economy of the Asia Pacific was predicted to grow by US$130 billion by 2030 and hit US$1 trillion, due to faster adoption of 5G technologies in the region.
The GSMA said in a report, mobile technologies and services generated 5.3% of GDP across the region in 2023, this amounted to US$880 billion of economic value.
Manufacturing and fintech were highlighted have to been particularly enhanced by mobile technologies. The former is expected to see even greater advancements enabled by 5G applications such as smart factories, smart-grids and IoT-enabled devices. While, financial services and public administration are expected to benefit as they turn to 5G to digitally transform services and operations.
The GSMA forecast that the contribution of the mobile industry to the APAC economy will outpace the global average of 12%, with a rate of 15%. The number of mobile internet users will grow from 1.5 billion (51% penetration) to 1.8 billion (61%) in 2030. Data traffic will quadruple between 2023 and 2030.
Commercial standalone 5G networks are live in seven APAC nations: Australia, India, Japan, the Philippines, Singapore, South Korea, and Thailand. This will help in fuelling the predicted growth alongside 5G Advanced, RedCap and AI, creating opportunities to launch new 5G applications and kick start a fresh round in 5G investments for enterprises and consumers.
Developing markets
The bulk of growth from the mobile economy will stem from APAC’s developed markets such as Singapore, South Korea, Australia and Japan. Large portions of the region remain unconnected notably Bangladesh, India, and Pakistan. Key adoption barriers include lack of affordability, particularly for devices, and a lack of digital skills, particularly among older citizens.
Julian Gorman, Head of Asia Pacific at the GSMA, said: “Hundreds of millions of people are still missing out. Addressing this usage gap and building online trust are crucial to closing this digital divide and ensuring everyone can benefit from the life-enhancing applications mobile can provide in area such as finance, education, and health.”
