National broadband plan with a focus on accelerating investment through flexible regulatory framework, encouraging public and private investments, extending broadband connectivity to public areas and improving digital literacy along with projected growth in 5G adoption will drive the telecom and pay-TV market in the Philippines between 2019 and 2024, according to GlobalData, a leading data and analytics company. Mobile data revenue will remain the largest contributor to telecom revenue during the forecast period.
Revenues from mobile data segment will increase at a compound annual growth rate (CAGR) of 7.1% to reach US$3.5bn by 2024, driven by increasing mobile Internet subscriptions, fast growing machine to machine (M2M) connections and growing adoption of 4G and 5G services.
