Abstract: According to GlobalData’s latest research on the Asia Pacific mobile broadband market, the number of mobile subscribers in South Korea will grow by 2.2% CAGR over the next five years, and is expected to increase from 68.5 million today to 76.4 million in 2024.
12/4/2019 The Asia Telecom Review report that according to GlobalData’s latest research on the Asia Pacific mobile broadband market, the number of mobile subscribers in Korea will grow by 2.2% CAGR over the next five years, and is expected to increase from 68.5 million today to 76.4 million in 2024. Interestingly, this prediction exceeds the current population of South Korea (50.8 million).
GlobalData research also shows that the average monthly growth rate of per capita mobile data usage in Korea in the next five years will be 12.8% CAGR, which will reach 13.1GB in 2024. By comparison, data from the Ministry of Industry and Information Technology in 2018 shows that the average monthly data traffic of China Mobile Communications users is 3.41GB.
Ramya Sindhu, telecom market data and intelligence researcher at GlobalData, pointed out that the steady growth in the number of smartphone users, unlimited data 5G packages, increasing data consumption and the widespread deployment of 5G in the future are key factors driving the growth of mobile subscribers and data traffic in South Korea. South Korea’s goal is to occupy 15% of the global 5G market within the next five years.
South Korea is one of the world’s leading countries in the development of fixed broadband and mobile broadband. With the issuance of 5G licenses in South Korea in April this year, 5G business grew rapidly. By early September this year, the number of users had exceeded 3 million, and the number of 5G base stations exceeded 90,000. During the same period, the number of 2G, 3G, and 4G users began to decline. GlobalData data show that the proportion of 4G users in South Korea will drop from 79.2% now to 59.6% by 2024. while the number of 5G users will account for the remaining 40.1%.
Behind the rapid development of 5G in South Korea, it is inseparable from the efforts of the three major operators in South Korea. SK Telecom, KT and LG U + are all pushing for 5G deployment, offering low prices and various bundling plans to compete for users. The world is watching and learning how to harness the power of 5G to increase revenue, especially launch more new services.