Sydney, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Singapore’s mobile market has displayed slow growth over the last few years due to a highly mature market. Singapore’s mobile market remains highly competitive and operators have moved to a customer satisfaction and retention phase by offering value-added services as the market has matured. However very slow growth is also predicted over the next five years to 2024, as there is little room for further growth in a highly saturated market.
Just released, this edition of Paul Budde Communication’s focus report on Singapore outlines the major developments and key aspects in the telecoms markets.
SingTel’s recent financial performance was one its weakest for more than a decade. It highlights the challenges faced by Southeast Asia’s largest telecoms carrier as rival providers expand in a highly competitive industry.
Competition is now heating up in Singapore’s mobile market with a fourth provider Australian telco TPG Telecom launching mobile services. By mid-2019. TPG had significantly expanded its free mobile service trial. TPG Telecom won the right to become the city-state’s fourth mobile network operator (MNO). However, MyRepublic has launched its mobile services via an MNVO arrangement in partnership with mobile operator Starhub.
This is likely to see increased pressure on SingTel, Starhub and M1, potentially triggering another price war which is likely to lower ARPUs over the next few years. Over the past few years price wars had broken out in the Singapore mobile data market indicating the heightened market competition that is now evident in a highly mature market.
Singapore saw strong growth in mobile broadband penetration for the past five years, however since then growth has been slow due to a mature and saturated mobile market. The mobile broadband market will be driven by increasingly faster speeds offered by the mobile operators as they roll out their 4G and 5G networks and improving tariffs due to strong competition.
The IMDA is backing the deployment of standalone 5G networks which will be capable of delivering a full suite of enterprise 5G capabilities, including network slicing and low latency connections for Internet of Things (IoT) applications.
Key developments:
Three submissions are entered for multi-spectrum 5G licenses.
Competition is heating up with a fourth provider TPG Telecom launching mobile services.
The IMDA is backing the deployment of standalone 5G networks which will be capable of delivering a full suite of enterprise 5G capabilities.
SingTel’s recent financial performance was one its weakest for more than a decade.