Total telecommunications and pay-TV service revenues in the US will reach US$404.5bn in 2019, a 0.5 per cent decline over 2018, mainly due to falling revenues from mobile and fixed voice categories.
However, GlobalData expects total service revenue to increase at a compound annual growth rate (CAGR) of 0.7% between 2019 and 2024 to reach US$419.4 billion by 2024, mainly driven by growth mobile broadband and fixed broadband revenues.
Mobile data will remain the leading contributor to the total telecom service revenue over the forecast period, increasing from US$131.2bn in 2019 to US$194.6bn in 2024. Growth will be supported by the uptake of smartphone subscriptions, increasing demand for mobile data services and growing adoption of 5G services.
Fixed broadband revenue will expand at a CAGR 4% over the 2019-2024 period, reaching US$78.5bn in 2024. Growth will be mainly driven by increased adoption of ultrafast broadband service connections, supported by operator investments in fibre infrastructure across the country.
Pay-TV revenue will drop from US$94.4bn in 2019 to US$84bn by 2024 as a result of cord-cutting trends.
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