While mobile voice revenue in the Philippines continues to fall, the steady increase in mobile data service revenue is sufficient to counterbalance this decline and lead to overall growth in mobile services.
Data and analytics company GlobalData projects that total mobile services revenue will grow at a compound annual growth rate (CAGR) of 2.2 percent, from $3.9 billion in 2023 to $4.4 billion by 2028. The rising mobile data service revenue, which is expected to increase at a CAGR of 4.2 percent during the same period, is cited as a major factor behind this growth.
In contrast, GlobalData forecasts a decline at a CAGR of 10.7 percent for mobile voice revenue as users shift their preferences toward over-the-top communication platforms (i.e., services that allow users to communicate over the Internet) and telcos continue to bundle unlimited voice minutes in their promo packages.
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The average monthly data usage in the country is expected to rise significantly, from 7.1GB in 2023 to 58.7GB in 2028. This is due in part to the growing consumption of online video and social media and the expansion of 5G services.
GlobalData believes 4G will remain the predominant technology until 2026. By 2028, 5G subscriptions are expected to exceed 4G and capture 74 percent of total mobile subscriptions. 2G- and 3G-based subscriptions, which accounted for less than 5 percent of combined market share in 2023, will be effectively phased out by 2028.
The analytics firm also foresees PLDT and Globe maintaining their market leadership while DITO aims to expand its market presence through improved service offerings and network reach.