Global telecoms revenue is expected to reach $1.1 trillion by 2028, driven by the growth of fixed broadband and 5G subscriptions, despite challenges such as rising costs and slow subscriber growth, according to PwC’s Global Telecoms Outlook report.
Released ahead of the Mobile World Congress in Barcelona, the report projects that the telecoms industry will grow at a compound annual growth rate (CAGR) of 2.9% through 2028, which is below inflation levels. Operators are grappling with rising costs, fierce competition, and sluggish subscriber expansion. Fixed broadband and mobile subscriptions are predicted to increase by 3.8% and 4.3% annually, respectively, while fixed voice subscriptions will decline by 1.8% during the forecast period.
Regionally, fixed broadband subscriptions are expected to grow by 0-6%, with markets like India (17.2%), Nigeria (9.2%), and Malaysia (9%) showing significant growth.
Dr. Florian Gröne, PwC’s Global Telecoms Leader, commented, “The telecoms industry must rethink how it creates, delivers, and captures value, particularly as digital platforms and AI investments in infrastructure rise.”
He added that the telecoms sector must adapt to emerging technologies and cooperate with investors and regulators to optimize market structures and pursue deals that enable scalability.
Wilson Chow, PwC’s Global TMT Lead and China AI Lead, emphasized that telecom operators need to accelerate AI adoption to reshape both their cost structure and customer experiences. He further noted the potential for telecoms to lead the development of the “AI grid,” which will support the increasing demand for connectivity and digital infrastructure.
