An analysis of GlobalData’s South Korea Mobile Communication Forecast Model reveals that total mobile services revenue in South Korea is set to increase at a compound annual growth rate (CAGR) of 3.7% from US$21.0B in 2020 to US$25.1B in 2025, supported by continued growth in the mobile data services segment. Mobile voice and mobile messaging service revenues on the other hand will continue with their downward trend as users increasingly adopt over the top (OTT)- based communication platforms. Aasif Iqbal, Telecom Analyst at GlobalData, said: “Though 4G services will remain the leading mobile technology by subscriptions in South Korea until 2024, 5G subscriptions will grow at the fastest CAGR of 26.9% over the forecast period 2020- 2025.
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