Market Insights Technology Communication Services

Mobile Data - Iceland

Iceland

Revenue in the Mobile Data market is projected to reach US$2.2bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.46%, resulting in a market volume of US$2.9bn by 2028.
In global comparison, most revenue will be generated in the United States (US$142bn in 2024).

Key regions: Japan, United Kingdom, Qatar, Denmark, United States

Market

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Analyst Opinion

Within the context of increasing digitalization, a fast and reliable internet connection that continues to improve in terms of speed is of rising importance worldwide for both business and personal use. As such, we can expect to see the largest increase in revenues in this segment in the future. Further, as a result of fierce competition in the communication services market, stagnating revenues may be seen now and then in countries such as the U.S. and China, which already have strong mobile networks as well as a particularly high market penetration. In the future, the new 5G mobile communications standard will account for a larger share of revenues, although this will not lead to significantly increasing revenues in this segment.

Methodology

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the revenues of telecommunications providers generated by end consumers and enterprises.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use financial statements of key players, national statistical offices, and telecommunications regulatory authorities. In addition, we use relevant key market indicators and data from country-specific associations, such as the number of fixed broadband subscriptions, the number of telephone subscriptions, the number of mobile broadband connections, the number of cellular subscriptions, and the GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques, such as exponential trend smoothing, is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.