Multiplay revenue in APAC to grow at 2.4% CAGR over 2023-2028

Multiplay service revenue in APAC to grow at 2.4% CAGR over 2023-2028, forecasts GlobalData

Multiplay service revenue in Asia-Pacific is expected to grow at a compound annual growth rate (CAGR) of 2.4% from $245 billion in 2023 to $276.3 billion by 2028, driven by the continued rise in the number of multiplay households in the region, and growth in the average monthly multiplay household spending, forecasts GlobalData, a leading data and analytics company.

GlobalData’s Asia-Pacific Multiplay Services Forecast reveals that the number of multiplay service households in the region will increase at a CAGR of 2.2% over the forecast period 2023-2028. China represents the largest country in terms of household multiplay subscriptions, while underpenetrated markets like India are expected to see faster subscriber growth.

Subba Reddy, Telecom Analyst at GlobalData, comments: “Currently, the Asia-Pacific multiplay market is led by the doubleplay services, which account for 49% of the total multiplay households. However, its share is expected to drop over the forecast period 2023-2028, as tripleplay service adoption grows in prominence. Tripleplay services are expected to surpass doubleplay services in subscriptions over the next couple of years and will go on to account for 54% of total multiplay households in the year 2028.”

Though currently at a low subscriber base, quadrapleplay service is expected to gain traction gradually with higher average household spending, ultimately driving the overall market revenue.

Well established fixed network infrastructure and relatively high fixed broadband household penetration in countries like China (110%), South Korea (94%), and Singapore (77%) allow telcos to promote multiplay service bundles built around high-speed internet services.

Reddy concludes: “As operators extend additional benefits such as unlimited data, access to video-on-demand platforms, and free 4K set top box to enhance their bundled service offerings, the average monthly household spend on multiplay service bundles will also increase, thereby driving the overall revenue growth.”