Greece Telecom Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 4.67 Billion |
| Market Size (2030) | USD 5.22 Billion |
| CAGR (2025 - 2030) | 2.23% |
| Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Greece Telecom Market Analysis
The Greece Telecom Market size is estimated at USD 4.67 billion in 2025, and is expected to reach USD 5.22 billion by 2030, at a CAGR of 2.23% during the forecast period (2025-2030).
- The increasing demand for high-speed connectivity services and higher investments in 5G infrastructure are driving the growth of the telecom market in Greece. For instance, Ookla’s data revealed that the median mobile internet connection speed in Greece increased by 8.79 Mbps, which represented a 16.7% rise in the twelve months leading up to the start of 2023. Additionally, Ookla’s data showed that fixed internet connection speeds in Greece increased by 10.94 Mbps, reflecting a 34.3% increase during the same period.
- The growth of the telecom industry is primarily attributed to the increasing population and the widespread adoption of mobile phones that support 3G, 4G, and 5G services across the country. For instance, in May 2024, Grid Telecom and Quadrivium partnered to establish a new cable landing station (CLS) in Chania, located on the northern coast of Crete. This facility will provide infrastructure for the secure landing and operation of subsea optical fiber cable systems in Crete. The services will include housing for power feeding, subsea line terminating equipment, and other essential equipment for interconnecting and peering optical, Ethernet, and IP data traffic.
- Additionally, in June 2024, Vodafone Greece agreed to acquire 72.7% of the share capital of Hellas Online SA (HOL) from Intracom Group and World Equities Investments Holdings SA (WEI) for EUR 72.7 million. The transaction is subject to several conditions, including antitrust clearance by the relevant authorities.
- The government of Greece has launched initiatives to promote the development of the telecom sector. These initiatives include regulatory reforms, investment incentives, and promoting competition to attract telecom operators and stimulate investment in telecom infrastructure. For instance, according to ITA, Greece plans to invest USD 176 million in the development of 5G networks, USD 1.43 billion in the digital transformation of the public sector, and an additional USD 413 million in the digitalization of businesses, aiming to integrate digital technologies into SMEs.
- Furthermore, the government of Greece has implemented broadband subsidy programs to promote the deployment of high-speed internet in underserved areas and stimulate the adoption of broadband services. For instance, the National Broadband Plan 2021-2027, introduced before the pandemic, advocates for utilizing fixed very high capacity and 5G networks.
- Moreover, under the EU Smart Readiness Program, buildings that qualified for funding had to be located in areas where fiber-optic networks with a capacity of 1 Gbps had been installed or were planned for installation by 2026.
- Greece has shown advancements in Very High-Capacity Networks (VHCN) and 5G coverage. However, the nation must prioritize bolstering its mobile and fixed broadband services. Over the next decade, establishing robust fiber optic and 5G networks will be pivotal. Moreover, intense competition among telecom providers can pressure profit margins and require continued investment in infrastructure and technology to stay competitive.
Greece Telecom Market Trends
Wireless Voice Services is Expected to Hold Significant Share in the Greece Telecom Market Over the Forecast Period
- Greece has been witnessing an increasing adoption of smartphones to support the country’s inclusive digital transformations across various industries, fueling the adoption of wireless voice services. For instance, GSMA Intelligence said mobile connections in Greece equaled 145.3% of the total population in January 2024. Moreover, the number of mobile connections in Greece increased by 28,000 (0.2%) between the start of 2023 and the start of 2024.
- The country's wireless telecom service subscription is accelerating with the adoption of wireless telephones and the decreased cost of voice services. For instance, in January 2024, ten '5G for Smart Communities' projects received funding of EUR 50 million each. These projects aim to pilot 5G standalone systems and support the EU Digital Decade goals. One project, 5G-TERRA, aims to provide high-quality 5G services to remote areas in Greece, with an EU contribution of EUR 4.95 million.
- The country’s government is supporting the growth of telecom service expansion by approving the licenses of telecom operators to provide their services in Greece, which include voice services to increase the telecom service footprints in the previously unserved areas of the country. For instance, according to the International Trade Administration, Greece aims to boost connectivity significantly. By 2027, the country plans to extend very high-capacity networks, such as 5G and fiber optics, and digitally link its islands, with a target of reaching 94% coverage.
- Furthermore, in September 2023, Phaistos Investment Fund invested strategically in the Greek technology company WINGS ICT Solutions. 5G Ventures and a strategic investor from Greece also announced their co-investment in WINGS ICT Solutions. WINGS ICT Solutions specializes in developing IoT services and products using advanced technologies such as 5G, Big Data, and Artificial Intelligence.
- Overall, the increasing adoption of smartphones in the country, supported by the broad network coverage offered by the telecoms and the government initiatives to increase telecommunication services, are fueling the market growth of the country’s wireless voice service.
Rising demand for 5G
- As 5G technology offers faster data speeds and lower latency than other mobile networks, the country's demand for 5G connection and services is growing. Also, 5G connectivity provides seamless streaming, faster downloads, and real-time communication, driving the demand for telecom services in the country.
- The growing popularity of video streaming, online gaming, and other data-intensive applications drives the demand for higher data speeds and capacity. With 5G, telecom operators can meet this increasing demand for mobile data consumption, resulting in higher revenue opportunities in the market. For instance, the 2023 European E-Commerce Report shows that 75% of internet users purchased goods or services online in 2023.
- According to data from Meta's planning tools, Instagram's potential ad reach in Greece surged by 200,000 users, marking a 4.9% increase from January 2023 to January 2024. Similarly, ByteDance's ad planning tools revealed that TikTok's potential ad reach in Greece grew substantially, adding 829,000 users, a 27.5% uptick from early 2023 to early 2024.
- Telecom operators are investing in expanding and upgrading network infrastructure to meet the increasing demand for mobile and fixed broadband services. This includes deploying 5G networks and fiber-optic networks and modernizing existing infrastructure. For instance, in June 2024, Vodafone Greece introduced a new promotion that bundles mobile and fixed telephony services. This offer is available to new customers who subscribe to both services. Additionally, these customers will receive access to the Vodafone TV platform and a complimentary 55-inch smart TV.
Greece Telecom Industry Overview
The Greek telecom market is consolidated, led by major players such as Cosmote Mobile Telecommunications SA, Nova Telecommunications & Media Sole Representative Company, and Vodafone Panafon Anonymi Hellenic Telecommunications Company. These companies and Amd Telecom SA adopted strategies like partnerships, innovations, and acquisitions to improve their product offerings and achieve sustainable competitive advantages.
- June 2024 - Cosmote officially launched its 5G+ standalone (SA) network in Greece. The network currently covers 50% of the country and plans to expand to 60% by the end of the year. Cosmote 5G+ offered an improved connectivity experience, with higher download and upload speeds, reduced latency, and better battery management for mobile devices connected to the network. Additionally, it significantly boosted industries and businesses and provided new opportunities to households through innovative applications, such as dynamic network slicing.
- February 2024 - Intracom Telecom, a global provider of technology systems and solutions, unveiled its newest innovation at the upcoming MWC Barcelona event. Intracom showcased its Dynamic Datacenter Sizing (DDS), a key component of the NFV-RI platform. This innovation is specifically engineered to enhance energy and resource efficiency within telco data centers.
Greece Telecom Market Leaders
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Nova Telecommunications & Media Sole Representative Company
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VODAFONE PANAFON Anonymi Hellenic Telecommunications Company
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Intracom Telecom
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Amd Telecom SA
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Cosmote Mobile Telecommunications SA
- *Disclaimer: Major Players sorted in no particular order
Greece Telecom Market News
- June 2024: PPC's subsidiary FiberGrid engaged telecommunications providers – OTE, Vodafone, Nova, and Inalan – to test its optical fiber network. This step is part of its preparation to enter the telecom sector by the end of 2024. PPC FiberGrid aims to extend its FTTH network to 500,000 households and businesses by the close of 2024, with a further target of 1.7 million in 2025, focusing on the specified regions. In a broader scope, the PPC Group strives to offer fiber-to-the-home services to 3 million establishments nationwide over the coming five years. The company is set to channel investments totaling around EUR 680 million from 2024 to 2026.
- April 2024: WINGS ICT Solutions SA, in collaboration with COSMOTE and A1BG, both mobile network operators in Greece and Bulgaria, presented the project "5G Seamless Roaming for the Greece-Bulgaria Cross-Border Corridor" as part of the 5G SEAGUL initiative. The #5GSEAGUL project, managed by WINGS ICT Solutions SA, commenced in January 2023 and will span three years.
Greece Telecom Industry Segmentation
Telecom or telecommunication is the long-range transmission of information by electromagnetic means. The Greece telecom market includes in-depth trend analysis based on connectivity, such as fixed networks, mobile networks, and telecom towers. Telecom services are divided into voice services (wired and wireless), data and messaging services, and OTT and pay-TV services. Several factors, including an increasing demand for 5G, are likely to drive the adoption of telecom services.
The market sizes and forecasts regarding value (USD) for all the above segments are provided.
| By Services | Voice Services | Wired |
| Wireless | ||
| Data and Messaging Services | ||
| OTT and PayTV Services |
Greece Telecom Market Research Faqs
How big is the Greece Telecom Market?
The Greece Telecom Market size is expected to reach USD 4.67 billion in 2025 and grow at a CAGR of 2.23% to reach USD 5.22 billion by 2030.
What is the current Greece Telecom Market size?
In 2025, the Greece Telecom Market size is expected to reach USD 4.67 billion.
Who are the key players in Greece Telecom Market?
Nova Telecommunications & Media Sole Representative Company, VODAFONE PANAFON Anonymi Hellenic Telecommunications Company, Intracom Telecom, Amd Telecom SA and Cosmote Mobile Telecommunications SA are the major companies operating in the Greece Telecom Market.
What years does this Greece Telecom Market cover, and what was the market size in 2024?
In 2024, the Greece Telecom Market size was estimated at USD 4.57 billion. The report covers the Greece Telecom Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Greece Telecom Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Greece Telecom Industry Report
Statistics for the 2025 Greece Telecom market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Greece Telecom analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
