Just released, this edition of BuddeComm report outlines the latest developments and key trends in the telecoms markets.
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The good news, at least, is that the overall effect on the sector has been relatively modest compared to other industries that effectively collapsed under the shutdown. Telecommunications remained an essential service during the period, with many people even needing to upgrade their services and plans to enable a shift to working and schooling from home. Singapore’s modern infrastructure and capacity weathered the storm well.
Most telecom operators suffered financially, with declines in revenue and profit as subscribers tightened their belts and reduced discretionary spending. The downturn was roughly in line with the retraction in the Singapore economy. All the major players continued to provide services, and to proceed with their investment programs, particularly in 5G networks (with a focus on standalone). The operators are voicing strong optimism for the coming months as travel restrictions are reduced and economic activity starts to bounce back. While forecasting should be viewed as a very risky activity in such uncertain times, there is a high degree of confidence across the industry that penetration rates in Singapore will quickly return to pre-Covid-19 levels.
Singapore continues to push ahead with its 5G rollout. 5G networks and services are expected to form the backbone of growth in the telco sector over the coming years as service providers seek new ways to engage customers in a market that is otherwise already saturated.
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Key Developments:
- Following successful trials, multiple standalone 5G services are launched;
- Telecom regulator announces S$30 million fund to accelerate 5G adoption and commercialisation;
- M1 and Keppel Corp to create a separate company to operate M1’s mobile network assets;
- Report update includes the regulator’s market data to March 2021, telcos’ data to Q1 2021, Telecom Maturity Index charts and analyses, assessment of the global impact of Covid-19 on the telecoms sector, recent market developments.
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