Summary
Asia Pacific's telecom industry closed out a year of accelerating growth momentum, recording its strongest annual performance in half a decade even as the sector continues navigating pandemic-related disruption. Drawing on data from 40 of the region's largest operators, the numbers point to what fuelled the industry's standout year and what operators should expect as growth conditions begin to normalise.
Structural forces behind the exceptional growth recorded across the industry include the expanding contribution of non-connectivity revenue streams, the positive top-line impact of 5G rollouts, and the growing significance of enterprise segment revenue. Operators in specific large Asian markets have also consistently outperformed regional growth benchmarks, offering insight into what distinguishes their strategies from slower-growing peers.
Looking ahead, industry growth is expected to rationalise in the coming year and capital expenditure intensity is likely to decline after peak investment years. A longer-range view toward the middle of the decade examines how continued commoditisation of core connectivity is pushing operators to diversify into entertainment, financial services, e-commerce and gaming, and how emerging 5G use cases in ports, manufacturing, logistics and healthcare could reshape the industry's growth trajectory.
As core connectivity keeps commoditising, where will APAC telcos actually find their next decade of growth?
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