Vietnam's mobile service revenue forecast to reach 5.6 billion USD by 2027
(Baonghean.vn) - A recent study by GlobalData (UK) Consulting and Data Analysis Company shows that Vietnam's mobile service revenue will increase from 4.3 billion USD in 2022 to 5.6 billion USD in 2027, with a compound annual growth rate (CAGR) of 5.7%.
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The growth will be primarily driven by the mobile data segment, which will be supported by the increasing availability and adoption of 4G mobile services and the development of 5G mobile services in the coming period, the study said.
GlobalData's Vietnam Mobile Broadband Forecast for Q4 2022 shows that voice service revenue will decline at a CAGR of 0.9% over the forecast period 2022-2027 due to the shift of mobile consumers to over-the-top (OTT) media platforms and the decline in average revenue per user (ARPU) of voice services.
Commenting on the average monthly data consumption in the Vietnamese market, Hrushikesh Mahananda, a telecommunications analyst at GlobalData, said that the average monthly data usage will increase from 2.3 GB in 2022 to 6.5 GB in 2027, due to the increasing consumption of social media content and online videos on smartphones.
Commenting on technology trends, GlobalData said that 4G technology is still the leading mobile technology in terms of the number of subscribers in the forecast period 2022-2027. With all major domestic telecommunications companies such as Viettel, Vinaphone and Mobifone simultaneously participating in the commercial deployment of 5G networks nationwide in the coming time, it is expected that 5G subscribers will grow in the forecast period, although the growth rate is still low.
According to GlobalData, Viettel is the mobile network operator that will continue to dominate the mobile service market in terms of number of subscribers until 2027. Viettel's market leadership is mainly due to its nationwide high-speed 4G LTE network coverage and efforts to develop 5G technology to compete with other rivals.
