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South Korea’s mobile data revenue to surpass $15bn in 2024

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Christian Fernsby ▼ | December 2, 2019
Favorable regulatory landscape, increasing machine to machine (M2M) and smartphone subscriptions, and the upcoming 5G technology are set to drive South Korea’s total mobile data revenue from US$13.9bn in 2019 to US$15.5bn in 2024, according to GlobalDat.
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South Korean businesses   South Korea mobile phones
According to GlobalData’s Asia-Pacific Mobile Broadband Forecast Pack, the total number of mobile subscriptions in South Korea is forecast to grow at a compound annual growth interest rate (CAGR) of 2.2% from 68.5 million in 2019 to 76.4 million in 2024.

Topics: South Korea mobile revenue

GlobalData’s research reveals that the monthly mobile data usage in South Korea will grow at a CAGR of 12.8% to reach 13.1GB in 2024 due to increase in the consumption of data intensive content on smartphones.

With the rapid expansion of 5G services, the share of 2G, 3G and 4G technologies has already started declining.

The 4G subscription share of the total mobile subscriptions will decline from 79.2% in 2019 to 59.6% in 2024.

During the same period, 5G subscription share is likely to reach 40.1% as South Korea is an early adopter of the latest communication technology.

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