The increase was felt around the world, but some regions did better than others. central and South Asia including India, Pakistanand Bangladesh, recorded the strongest annual growth at 14.5%. It was followed by Africathe Middle Eastand Eastern Europe all posting annual growth rates between 9 and 10%. North and South America also performing well with annual growth rates of 6.5% and 7.8% respectively. At the bottom was Western Europe (2%) and the rest of Asia (2.7%) which includes Australia, China, Indonesia, South Koreaand Japan.
Carriers around the world are starting to see the benefits, with 17 of the top 20 mobile carriers seeing growth in the first quarter. Bharti Airtel and Reliance Jio saw double-digit revenue growth in India while carriers in the United States posted annual growth close to or above 5%, such as Verizon (9.5%), T-Mobile (6.6%) and AT&T (4.8%).
COVID recovery, 5G and IoT were the top three growth drivers in the first quarter of 2022, but other factors at play may affect the market in the future.
Ronan of RenesseOmdia’s Senior Director of Research for Service Provider Markets, said, “Will this success be short-lived? Probably yes. Looking to the second quarter of 2022 and beyond, we expect revenue to continue to grow, albeit at a slower pace than what was seen in the first quarter. “
Strict COVID restrictions in China will have a negative impact on revenues in South East Asia. In Eastern Europethe impact of the Russo-Ukrainian conflict will be felt more in the second quarter and throughout the year as hope for a resolution is still unclear.
“Macro-economic factors such as inflation and the prospect of a global recession will affect consumers’ willingness to spend on mobile services in the future.” adds Renesse.
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Fasiha Khan / Tel: +44 7503 666806 / E: [email protected]