Singapore Telecom MNO Market Size and Share

Singapore Telecom MNO Market Summary
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Singapore Telecom MNO Market Analysis by Mordor Intelligence

The Singapore Telecom MNO Market size is estimated at USD 14.07 billion in 2025, and is expected to reach USD 17.13 billion by 2030, at a CAGR of 4.02% during the forecast period (2025-2030). In terms of subscriber volume, the market is expected to grow from 10.09 million units in 2025 to 11.69 million units by 2030, at a CAGR of less than 2.98% during the forecast period (2025-2030). This steady trajectory reflects resilient infrastructure investment, nationwide 5G standalone coverage, and aggressive cloud-first public initiatives that jointly lift enterprise demand while sustaining premium consumer upgrades. Household fiber penetration sits at 100%, enabling operators to bundle gigabit-class broadband with 5G mobile tiers, which in turn supports average monthly mobile data consumption above 50 GB. Intensifying digitalization across government and industry pushes demand for secure, high-capacity connectivity, and operators are responding with network-slicing products for mission-critical workloads and AI-enabled cybersecurity bundles. Competitive tension, sparked by the entry of Simba and more than ten MVNOs, has driven data prices to the lowest level in Southeast Asia, yet prudent capex cycles and new enterprise revenue streams help sustain margins. Maritime and port private-network pilots, plus aggressively funded cloud-edge rollouts, position the Singapore MNO telecom market as a regional showcase for industrial 5G use cases.

Key Report Takeaways

  • By service type, data services led with 53.01% of Singapore MNO telecom market share in 2024; IoT services are forecast to expand at a 4.09% CAGR through 2030.  
  • By end user, the consumer segment captured a 67.59% share of the Singapore MNO telecom market size in 2024, whereas enterprise users are expected to advance at a 4.33% CAGR through 2030.  

Segment Analysis

By Service Type: Data services dominate while IoT accelerates

Data products commanded 53.01% of Singapore telecom MNO market share in 2024, reflecting ubiquitous mobile broadband adoption and 100% household fiber access. IoT and M2M posted the highest 4.09% CAGR, fueled by smart-factory pilots and city-wide sensor grids that demand ultrareliable low-latency connectivity. Voice held 19.98% yet lagged in growth as OTT erosion persisted. OTT and PayTV represented 10%, bolstered modestly by streaming bundles. Other value-added services including managed security and GPU-as-a-Service grew at 4.05% as operators diversified revenue. This breadth underscores how the Singapore MNO telecom market size increasingly tracks enterprise digital-transformation budgets rather than legacy consumer voice trends.

The competitive configuration encourages convergence. Operators package unlimited-data SIM-only plans with 2 Gbps home broadband and cloud storage at price points equal to 2019 single surfaces, driving multi-product take-rates above 65%. Industrial 5G use cases from automated guided vehicles at Tuas Port to AR-guided aircraft checks at Changi are projected to inject USD 340 million incremental service revenue by 2030, reinforcing the structural pivot toward high-margin platform services.

Singapore Telecom MNO Market: Market Share by Service Type
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By End User: Enterprise momentum overtakes consumer saturation

Enterprise clients produced 32.41% of 2024 value yet carry the fastest 4.33% CAGR through 2030. Government mandates for zero-trust architectures and sectoral digital roadmaps spur uptake of managed SD-WAN, SASE, and edge-compute nodes, providing sticky contract revenue with three-year renewals. M1’s enterprise segment expanded 50% YoY in 2024 on the back of maritime private networks and cloud contact-center solutions. 

Conversely, consumer revenue growth slows to 3.87% as SIM-only price wars cannibalize traditional bundles. Still, the consumer base maintains a 67.59% share of the Singapore MNO telecom market size, thanks to record handset refresh cycles and rapid 5G adoption exceeding 75% of total subscriptions by mid-2025. Incremental growth derives from gaming-optimized data lanes and family cyber-wellness add-ons, signaling a shift from pure bandwidth sales to curated digital-lifestyle subscriptions.

Singapore Telecom MNO Market: Market Share by End User
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Geography Analysis

Singapore’s compact 728 km² territory allows end-to-end fiber reach and city-wide 5G at population-density economics unreachable in larger markets. Central business and high-rise residential districts host premium 10 Gbps fiber rollouts and 5G mmWave nodes that cater to content creators and fintech traders requiring symmetric gigabit speeds. Western industrial corridors in Jurong and Tuas house the nation’s manufacturing and maritime clusters; here, private-network deployments deliver deterministic latency for autonomous cranes and digital twin simulations at Tuas Port, the world’s first fully automated mega-port. Eastern precincts around Changi Airport apply 5G network slicing to real-time aviation logistics, enhancing on-time performance while cutting turnaround times. Island-wide, over 30 submarine cables terminate in Singapore, elevating the city-state to a regional traffic hub and diversifying operator wholesale revenues.

Although total addressable population is only 5.9 million, the city’s role as a digital gateway to Southeast Asia supports disproportionate international bandwidth demand, translating into robust backhaul and data-center leasing for incumbent carriers. However, limited domestic scale also compels disciplined capex and co-build models; Singtel and StarHub now share 3,000 5G sites, trimming duplication and advancing sustainability targets by lowering energy draw per gigabyte.

Competitive Landscape

Four facilities-based operators—Singtel, StarHub, M1, and Simba—compete head-to-head, while a growing roster of MVNOs exploits digital-only brands to slice micro-segments at minimal opex. Singtel holds roughly 44% of mobile subscriptions, leveraging regional content partnerships and early 5G leadership to defend premium ARPU. StarHub focuses on enterprise managed services, achieving 24.8% growth in regional ICT revenue in 2024 by bundling SASE and edge computing. M1 redeployed capital toward IoT and marine private networks after delisting, bagging three national awards for enterprise innovation. Simba, originally an ISP, surged past 10% market share by 2024 with aggressive pricing and no-frills digital care.

Strategic alliances define upcoming playbooks: Singtel joined SKT, Deutsche Telekom, e&, and SoftBank to co-create an AI-native telco edge-cloud platform, pooling R&D while accelerating multinational customer acquisition. StarHub inked a low-code partnership with OutSystems to slash time-to-market for industry apps, while all operators align on Open RAN trials to curb vendor lock-in. Disruptive threats loom from satellite newcomers pitching direct-to-device broadband and from hyperscale cloud providers courting the same enterprise spend. Against this backdrop, operators double down on cybersecurity, IoT orchestration, and GPU-as-a-Service to defend relevance beyond bit-pipe economics.

Singapore Telecom MNO Industry Leaders

  1. Singapore Telecommunications Limited

  2. SIMBA Telecom Pte Ltd

  3. M1 Ltd

  4. MyRepublic

  5. *Disclaimer: Major Players sorted in no particular order
Singapore Telecom Market Concentration
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Recent Industry Developments

  • April 2025: Singtel, in collaboration with Enterprise Singapore (EnterpriseSG), unveiled SPEED, a pioneering training initiative tailored for local small and medium-sized enterprises (SMEs) in Singapore. This comprehensive program aims to equip SMEs with the essential tools and capabilities to further their sustainability objectives. The acronym SPEED encapsulates its core focus: Smart technologies, Purpose-driven innovations, Enhanced capabilities, and Effective Digital transformation. Notably, this marks the inaugural sustainability initiative of its kind launched by a telecommunications company in Singapore.
  • February 2025: Singtel deployed 700 MHz 5G spectrum, boosting indoor reach by 40%
  • March 2025: StarHub partnered with OutSystems to accelerate AI-assisted low-code app delivery
  • July 2024: The Singaporean government introduced a unified SMS identifier, "gov. sg," for all its SMS communications. This move replaces the previous practice where each agency had its distinct sender ID, such as LTA, IRAS, CPF, HDB, and ICA.

Table of Contents for Singapore Telecom MNO Industry Report

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. Market Landscape

  • 4.1 Market Overview
  • 4.2 Regulatory And Policy Framework
  • 4.3 Spectrum Landscape And Competitive Holdings
  • 4.4 Telecom Industry Ecosystem
  • 4.5 Macroeconomic And External Drivers
  • 4.6 Porter's Five Forces
    • 4.6.1 Competitive Rivalry
    • 4.6.2 Threat of New Entrants
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Bargaining Power of Buyers
    • 4.6.5 Threat of Substitutes
  • 4.7 Key MNO KPIs (2020-2025)
    • 4.7.1 Unique Mobile Subscribers And Penetration Rate
    • 4.7.2 Mobile Internet Users And Penetration Rate
    • 4.7.3 SIM Connections by Access Technology And Penetration
    • 4.7.4 Cellular IoT / M2M Connections
    • 4.7.5 Broadband Connections (Mobile And Fixed)
    • 4.7.6 ARPU (Average Revenue Per User)
    • 4.7.7 Average Data Usage per Subscription (GB/month)
  • 4.8 Market Drivers
    • 4.8.1 Nationwide Stand-alone 5G roll-out unlocks premium consumer and enterprise use-cases
    • 4.8.2 Intensifying digital-first public-sector initiatives driving secure high-capacity connectivity demand
    • 4.8.3 Rapid fibre-to-the-home (FTTH) saturation enabling gigabit-class bundled offers
    • 4.8.4 Surging mobile data consumption per-capita (>50 GB/mo) supports ARPU uplift
    • 4.8.5 Maritime And port private-network pilots catalyse Industrial 5G adoption (UNDER-RADAR)
    • 4.8.6 5G network-slicing -priority lanes- for gamers And fintech users creates new B2C monetisation (UNDER-RADAR)
  • 4.9 Market Restraints
    • 4.9.1 Hyper-competition from MVNOs And fourth MNO (Simba) keeps consumer price elasticity high
    • 4.9.2 OTT substitution erodes legacy voice/SMS and Pay-TV revenues
    • 4.9.3 High spectrum-renewal And energy costs compress EBITDA margins
    • 4.9.4 Limited domestic market size caps scale economics for heavy-capex 5G standalone (UNDER-RADAR)
  • 4.10 Technological Outlook
  • 4.11 Analysis of key business models in Telecom
  • 4.12 Analysis of Pricing Models and Pricing

5. MARKET SIZE AND GROWTH FORECASTS (VALUE)

  • 5.1 Overall Telecom Revenue and ARPU
  • 5.2 Service Type
    • 5.2.1 Voice Services
    • 5.2.2 Data and Internet Services
    • 5.2.3 Messaging Services
    • 5.2.4 IoT and M2M Services
    • 5.2.5 OTT and PayTV Services
    • 5.2.6 Other Services (VAS, Roaming & International Services, Enterprise And Wholesale Services, etc.)
  • 5.3 End-user
    • 5.3.1 Enterprises
    • 5.3.2 Consumer

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Strategic Moves and Investments by key vendors, 2023-2025
  • 6.3 Market share analysis for MNOs, 2024
  • 6.4 MNO snapshot (subscribers, churn rate, ARPU, etc.)
  • 6.5 Company Profiles* of MNOs (Includes Business Overview | Service Portfolio | Financials | Business Strategy and Recent Developments | SWOT Analysis)
    • 6.5.1 Singtel
    • 6.5.2 M1 (Keppel)
    • 6.5.3 Simba Telecom
    • 6.5.4 MyRepublic

7. MARKET OPPORTUNITIES AND FUTURE OUTLOOK

  • 7.1 White-space And Unmet-Need Assessment
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Singapore Telecom MNO Market Report Scope

Telecommunications, or telecom, refers to transmitting information over long distances using electromagnetic signals. The study on the Singapore MNO telecom market includes an in-depth trend analysis based on connectivity like fixed networks, mobile networks, and telecom towers. The Singapore MNO telecom market is segmented by services (Voice services, data and messaging, value added services(vas), IoT services, and Other Services) and by end user (enterprises B2B and retail customers (B2C). The impact of macroeconomic trends on the market is also covered under the scope of the study. Furthermore, the disturbance of the factors affecting the market's evolution in the near future, such as drivers and constraints, has been covered in the study. The market sizes and predictions are provided in terms of value (USD) for all the above segments.

Service Type
Voice Services
Data and Internet Services
Messaging Services
IoT and M2M Services
OTT and PayTV Services
Other Services (VAS, Roaming & International Services, Enterprise And Wholesale Services, etc.)
End-user
Enterprises
Consumer
Service Type Voice Services
Data and Internet Services
Messaging Services
IoT and M2M Services
OTT and PayTV Services
Other Services (VAS, Roaming & International Services, Enterprise And Wholesale Services, etc.)
End-user Enterprises
Consumer
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Key Questions Answered in the Report

What is the current value of the Singapore MNO telecom market?

It was valued at USD 13.86 billion in 2024 and is forecast to reach USD 17.14 billion by 2030.

How fast is the sector growing through 2030?

The market is projected to grow at a 4.02% CAGR during 2025-2030.

Which service category holds the largest share?

Data services accounted for 53.01% of 2024 revenue.

Which end-user group is expanding the quickest?

Enterprise customers are set to grow at a 4.33% CAGR, outpacing consumer growth.

How will 5G network slicing influence revenue?

Network slicing enables tiered premium services for industry and gaming, adding a projected 1.2 percentage-points to overall CAGR.

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