Data and analytics firm GlobalData projects that rising demand for mobile internet connectivity and a growing unique subscriber base will increase China’s total mobile service revenue from $153 billion in 2019 to $165 billion by the end of 2024.
GlobalData’s Asia-Pacific Mobile Broadband Forecast Pack estimates total mobile subscribers in China will grow at a compound annual growth rate (CAGR) of 2.6% between 2019 and 2024.
Mobile data revenue is expected to expand at a 5.0% CAGR over the same period, driven by rising smartphone adoption and higher data consumption per user.
By the end of 2018, 4G subscriptions represented more than three quarters (75.7%) of all mobile subscriptions, reflecting the widespread deployment of Long Term Evolution (LTE) networks. Some mobile network operators (MNOs) began 5G trials in 2019 and targeted commercial 5G rollouts in 2020.
GlobalData expects 5G to account for 31.9% of total mobile subscriptions by the end of 2024. Nevertheless, to remain competitive, many operators are continuing to invest in 4G networks, so LTE is forecast to retain a leading share—around 47.9% of subscriptions—by 2024.
At the end of last month, China’s state-owned telecom operators activated 5G networks for the first time as Beijing seeks to close the technology gap with the United States. China Unicom, China Mobile and China Telecom introduced 5G service plans starting at approximately £14.08 per month. Although initial plans aimed for broader 5G launches in early 2020, providers accelerated their timetables amid heightened trade tensions with the US.
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