The global mobile telecommunications market will generate US$835 billion in service revenue in 2021, expanding at a CAGR of 3.8% between 2021 and 2026.
After contracting by 2.1% during 2020, the global mobile service communications market is experiencing a strong rebound, with revenue expected to expand at an annual rate of 5.0% during 2021.
The arrival of the Covid-19 pandemic in early 2020 and the social distancing/lockdown measures implemented by a large number of governments around the world caused the closure of a significant number of businesses and moved a considerable share of the world’s workforce to remote home settings, negatively impacting overall growth in the mobile communications market.
Moving forward, with the reactivation of economic activity in many parts of the world, we expect total mobile service revenue to continue to grow, expanding at a CAGR of 3.8% between 2021 and 2026 to reach US$1trillion in 2026.
5G will drive the global mobile market
Growth will be mainly driven by data revenue that will expand at a 7.4% CAGR over the forecast period to US$801 billion in 2026, equivalent to 79.4% of total mobile revenue globally. The emergence of 5G technology will be a key element in stimulating global demand for mobile data services across the world.
Following the first commercial deployments in 2019, 5G mobile communication services are now available across all regions. We estimate 2021 will close with 929 million 5G mobile subscriptions globally, accounting for 10.1% of total subscriptions.