Market Trends of Singapore Telecom Industry
Robust 5G Framework
- Singapore was the first nation in the world to have independent 5G connectivity, while 5G coverage throughout the globe gradually expanded. Singtel's national 5G coverage of the island nation currently exceeds 95%. Singapore was planning to achieve this goal by the end of 2025. Singtel succeeded in finishing these tasks three years earlier than expected. Since the introduction of 5G, Singapore has had a well-thought-out strategy for its coverage.
- To be competitive, Singapore has always accepted forced reinvention. Its strategies include providing cutting-edge technology, such as 5G. The country's primary goal is to "invest ahead and invest early" in critical infrastructure. As per the International Trade Administration US Department of Commerce, the Singapore government allocated SGD 25 billion (USD 18.1 billion) in R&D funding up to 2025 to assist efforts to leverage the advantages of digitalization by advancing disruptive technologies.
- Furthermore, according to the OpenGov Asia report, the construction of Singapore's 5G@SEA, the world's first and largest 5G Maritime testbed to trial, create, and commercialize Maritime 5G use cases over the next ten years, would be made possible by the 5G coverage in the current port waters. By mid-2025, Singapore would have full 5G standalone (SA) coverage over anchorages, fairways, terminals, and boarding areas. Singapore is home to one of the busiest maritime operations in the world. Marine 5G coverage for its offshore southern beaches would speed up turnaround times and increase efficiency for ships arriving and departing from the country.
- Compared to 5G, standalone networks are more sophisticated. A 5G standalone provides quicker downloads and reduced latency, which is essential for applications like video streaming and driverless vehicles. It is built from the ground up. Users on a 5G standalone network are given extra bandwidth or priority utilizing network slicing for users with critical applications. The first and most potent 5G standalone network in Singapore is Singtel. Singtel's 5G Standalone (SA) network provides lightning-fast speeds, hyperconnectivity, and many opportunities for businesses and consumers.
- As per the International Trade Administration US Department of Commerce, the Infocomm Media Development Authority (IMDA), a statutory board of the Singaporean government that oversees the integrated Infocomm and media sectors, has put aside SGD 30 million (about USD 21.7 million) not only to promote the adoption and commercialization but also for the development and commercialization of 5G solutions in smart estates, Industry 4.0, urban mobility, maritime operations, healthcare, consumer and government applications, etc.
Understand The Key Trends Shaping This Market
Download Sample
Broadband Penetration and Fastest Networks
- Over the years, Singapore's residential internet and broadband connectivity have steadily increased. According to the IMDA - Statistics on Telecom Services, the rate of domestic wired broadband household penetration in the country was 92.7% in December 2022. There are 9,743,100 total mobile subscriptions as of April 2023. Singapore has one of the highest internet connection rates in the world. Particularly regarding material availability, Singapore routinely outperforms other countries, boasting some of the lowest broadband prices and quickest download speeds.
- Upsurge in the broadband speed is anticipated to be fuelled on the back of 5G growth in Singapore, thereby opening income growth for different telecom operators. As the need for broadband connectivity grows due to the digital revolution, individuals and companies are also expected to use this trend. Singapore's broadband networks are already among the fastest in the world, and it is anticipated that they are expected to continue to improve.
- Furthermore, according to Ookla's Speedtest Global Index 2022, the rivalry was neck-and-neck for the fastest fixed broadband, with Chile taking the top position with 216.23 Mbps and China while Singapore with 214.23 Mbps. Over the year, the primary ten countries for fastest fixed broadband stayed fairly the same while each nation jostled up and down the list for fixed broadband dominance.
- While, as of May 2023, according to speedtest.net, Singapore, with an average of 241.35 Mbps, accounted for the fastest average internet speed for fixed broadband, followed by Chile, with more than 223 Mbps, and the UAE followed, with around 220.61 Mbps speed.
- According to an article published by Singtel in April 2023, Singtel was named the globe's sixth most vital telecoms company in Brand Finance's Telecoms 150 listing, which categorizes the most critical and most valuable telecoms brands worldwide. As per Infocomm Media Development Authority's recent report, the complaint rate of Singtel was the lowest for its mobile services between network operators and the minimum complaint rate for fixed broadband services in December 2022.
