Anticipating Job Growth: 5G Expansion Set to Boost Employment in APAC

The Asia-Pacific (APAC) region is on the cusp of a substantial surge in job opportunities, driven by the expected growth in total mobile communications services revenue. Projections from GlobalData, a leading data and analytics company, indicate that the revenue in the APAC region is set to experience a robust compound annual growth rate (CAGR) of 8%, reaching an impressive $479.1 billion by 2028. This growth is largely attributed to the burgeoning mobile data segment, bolstered by the widespread adoption of 5G services across several APAC countries.

The latest Asia-Pacific Mobile Broadband Forecast Pack (Q3 2023) from GlobalData suggests that mobile data services will be the primary contributor to the overall mobile services market in the region. This trend is expected to persist throughout the forecast period, with a particular emphasis on the expansion and adoption of high-average revenue per user (ARPU) 5G services.

Telecom Analyst at GlobalData, Srikanth Vaidya, emphasizes the strong revenue prospects for the mobile data segment, citing the availability of 5G services in countries such as China, Japan, Australia, Hong Kong, India, and Korea. Moreover, upcoming launches in countries like Sri Lanka and Bangladesh indicate a sustained growth trajectory for the mobile data market. Vaidya notes that telecom operators in Sri Lanka and Bangladesh are actively gearing up for 5G service rollouts, with trials already conducted in major cities.

Crucially, government support for 5G expansion is poised to fortify the mobile data services market in the region. Regulatory bodies in countries like South Korea, Japan, Australia, China, and Taiwan have initiated national 5G strategies, promoting the establishment of 5G ecosystems. These strategies encompass various supporting initiatives, including public sector investments, tax incentives, industry-government collaboration forums, and measures to enhance spectrum use.

China, in particular, stands out as the largest 5G market globally, with an estimated 1.5 billion 5G subscriptions in 2023, projected to rise to 3.3 billion by 2028. The government’s ambitious plans to deploy millions of 5G base stations contribute significantly to the expansion and adoption of 5G services, with a specific focus on rural areas and industrial parks.

While the mobile data segment is expected to witness sustained growth, there is also a shift anticipated in the mobile voice service revenue, which is projected to decline at a CAGR of 2.2% over the forecast period. Consumers’ continued migration towards over-the-top (OTT) and internet-based communication services is identified as a key factor in this trend.

In the broader context, the flourishing 5G landscape in the APAC region foretells a technological race for 5G+ supremacy. Countries like South Korea, Japan, and China are not only deploying 5G but are actively developing the broader 5G ecosystem, supporting electronics manufacturing and ICT industries.

Importantly, as the demand for 5G services continues to rise, the APAC region can anticipate a surge in job opportunities. The deployment, maintenance, and innovation surrounding 5G infrastructure, applications, and services are poised to create a diverse range of employment prospects. Whether it’s network engineers, software developers, or professionals in related fields, the growth in the telecommunications and technology sectors is likely to drive employment in the APAC job market.

As the region actively participates in the 5G revolution, the anticipated job growth underscores the broader positive impact of technological advancements on employment opportunities and economic development in the Asia-Pacific region.

(Source Link)