Omdia: India is expected to become the third largest 5G market in the world by the end of 2023

CTOnews.com, January 16, the latest Omdia report pointed out that the global recession will pose challenges to the telecommunications market, but the continued demand for telecommunications services will help mitigate the impact on the industry. The growth rate of global mobile services revenue is expected to slow to 2.54% in 2023 from 3.78% in 2021.

Omdia says the next wave of 5G services will come from low-income markets. Many of the upcoming 5G networks will come from low-income markets in Africa, Central and South Asia and Latin America. By the end of 2023, India is expected to become the world's third largest 5G market (by number of users).

CTOnews.com has learned that the report says the telecom market will usher in a further wave of consolidation. There may be further integration between operators. With modest revenue growth and high network spending, many in the industry believe mergers and acquisitions are necessary if operators are to succeed.

At the same time, operators will tighten the focus of business. Many operators will focus on their business, which may lead them to divest non-core assets and businesses. Some operators may consider selling recently established and newer digital services, or introducing strategic investors to further develop these services.