The mobile industry in Asia Pacific is now worth more than $1 trillion per year to the region’s economy, driven by rising mobile broadband and smartphone penetration, according to a report released by GSMA.
The report, The Mobile Economy: Asia Pacific 2015 finds that total mobile connections in the region stood at 3.7 billion in Q1 2015. 4G accounted for 9 per cent of connections, which is expected to reach a third of the total by 2020.
4G migration varies widely across the region. According to the report, 4G is spreading fast in Asia Pacific and India has also adopted it early. South Korea and Japan lead the world in 4G adoption.
At the end of the first quarter of 2015, there were 1.8 billion unique mobile subscribers in Asia Pacific, representing 45 per cent of the region’s population. Four markets in the region – in order of size, China, India, Indonesia and Japan – account for over three-quarters of the region’s subscriber base.
According to report, the number of unique mobile subscribers in the region is expected to grow by 5 per cent per year over the remainder of the decade (2014 to 2020 CAGR), faster than the global average (4 per cent) and making Asia Pacific the second-fastest region globally behind only Sub-Saharan Africa.
Smartphones account for 40 per cent of connections in the Asia Pacific region. The report says that it is set to account for two-thirds of the total by the end of the decade.