According to the "Mobile Economy APAC 2023 Report" released by GSMA, the Asia-Pacific (APAC) region is expected to see an explosive increase in 5G mobile access by 10 times by 2030 due to the ripple of digital transformation. In 2030, about 41% of mobile access in the APAC region is expected to be made with 5G, which represents a significant increase compared to 4% in 2022.
This increase was made possible by factors such as falling prices of 5G terminals, rapid promotion of network expansion, and mobile technology integration through cooperation between governments. However, there are still obstacles to mobile use in certain countries, which is expected to lead to the largest mobile use gap in the world in 2030.
The report points out that mature mobile markets such as Korea, Australia, Japan and Singapore are leading 5G innovations, but predicts that mobile access and use will still be difficult in several other APAC countries. Still, about 47% of the population in the APAC region does not have access to mobile Internet, lagging behind Latin America, China, and Eurasia. In order to close this gap, the lack of digital technology, economic problems, and concerns about the online safety of the elderly population are pointed out as factors to be considered.
The report, released at an event held in Singapore by GSMA and Singtel, presents a number of key results. From 2022 to 2030, the number of mobile subscribers is expected to increase by 400 million, exceeding 2.11 billion, and mobile penetration is expected to rise to 70%. However, it is still expected to fall short of the global average of 73 percent.
In 2022, APAC's mobile sector delivered $81 billion in economic value, and that figure is expected to reach nearly $1 trillion by 2030. In addition, 5G is expected to add more than $133 billion to the APAC economy by 2030. The service and manufacturing sectors are expected to receive the most 5G benefits, especially due to applications such as smart cities, smart factories, and smart grids, and are expected to contribute 42% and 34%, respectively.
The report also highlights the increasingly important monetization challenges of attracting new customers and increasing consumption of existing customers, and augmented reality and virtual reality technologies are expected to play an important role in creating new consumer experiences by taking advantage of 5G's speed, latency, and capacity.
The report also shows that the fintech industry is growing rapidly in the Asia-Pacific region, from large-scale mature markets to emerging markets. In particular, the fintech sector has continued to grow since the COVID-19 pandemic, and the level of financial inclusion in the Asia-Pacific region has been improving, with mobile money accounts increasing.
Julian Gorman, general manager of the GSMA Asia-Pacific region, stressed the current situation, saying, "The mobile market in the Asia-Pacific region is very subtle and consists of pioneering mobile companies and emerging markets." He added that the Asia-Pacific region is the fastest growing place in the 5G market, but there is still a big gap in mobile Internet usage in the world. Therefore, he stressed that efficient and flexible regulations and policies are needed for the development of mobile networks, especially efforts to narrow the digital gap between women and the vulnerable.
"We have learned from experience that early introduction of new technologies is very important for economic development," said Yuen Kwan-moon, the group CEO of Singtel, stressing that this approach is why Singtel quickly introduced 5G technology. He also stressed the importance of ecosystem cooperation, which can play a role in providing new digital experiences to carriers, businesses and consumers alike.
"M360 APAC 2023" will be held in Seoul, Korea
The "M360 APAC 2023" event will be held in Westin Chosun Seoul from September 7 to 8. According to the organizers, the event is a gathering that provides innovative ideas that induce intellectual stimulation. Participants can attend panel discussions that give a glimpse into the world of analytical thinking illuminated by scholars of our time. What makes the event particularly notable is that it matches the theme of the "Mobile Economy APAC 2023" report, which presents a vision. A stage will be set to explore important topics such as the dynamic development of 5G technology, mysterious areas of artificial intelligence, the attractiveness of immersive technology, and clear demands for digital inclusion. Organizers explain that these topics will be key elements of the future technology structure and will be constellations that guide intellectual navigation.
