Sri Lanka Telecom Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sri Lanka Telecom Market Analysis
The Sri Lanka Telecom Market revenue is expected to witness a CAGR of 6.8% over the next five years. Most of the major telecom companies in the world, such as Dialog Axiata, Airtel, and Hutchison Telecommunications Lanka (Hutch), are based in Sri Lanka. They promote innovation by making significant R&D investments consistently.
- 5G services still need to be fully deployed in Sri Lanka, but key telecom operators have completed 5G demonstrations and trials over the past two years. In the Future, all the customers will slowly migrate from 3G and 4G networks to the 5G network.
- The transition to 4G and 5G is still rising in the country due to expanding new networks and the expansion of the device ecosystem. For Instance, Airtel is upgrading its 3G mobile network to a 4G Network in Sri Lanka.
- Sri Lanka's telecom industry made further strides in expanding its network capacity with fiber and wireless deployments. For Instance, Sri Lanka Telecom (SLT) offers Wi-Fi hotspots for customers. These wireless broadband services will further help customers by providing high-speed connectivity services.
- For instance, Sri Lanka Telecom (SLT) proposed the SEA-ME-WE 6 cable system to link Western Europe, the Middle East, and South East Asia. This project is expected to be completed at the end of 2025. Key players in the telecom market would further support the growth by investing in fiber cables to offer high-speed connectivity services for customers.
- The COVID-19 pandemic has shifted students from offline education mode to online education mode. The lack of proper internet connectivity in rural areas is a significant concern for online education. To address such connectivity concerns, HUTCH collaborated with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) on the Gamata Sannivedanaya project to deliver broadband coverage throughout the country. Such a government's timely initiative will further support the growth of the telecom market.
Sri Lanka Telecom Market Trends
This section covers the major market trends shaping the Sri Lanka Telecom Market according to our research experts:
Rising demand for wireless services
- Telecom operators are creating a roadmap to deploy next-generation fiber optic cable system that supports 5G wireless broadband services. For Instance, Dialog Axiata PLC (Dialog) announced the completion of the Maldives Sri Lanka Cable system (MSC) that offers high-speed broadband services to customers. The 840km international submarine fiber optic cable system connects Hulhumale in the Republic of Maldives and Mount Lavinia in Sri Lanka.
- Sri Lanka Telecom (SLT) has partnered with Fon Wireless to introduce its's ltgo' Wi-Fi solution, which would give customers community-based Wi-Fi network connectivity services. The most extensive Wi-Fi network provides access to smartphones, laptops, and other mobile devices. The demand for deploying Wi-Fi solutions will significantly grow with the increasing adoption of smartphone connections.
- Key players in the telecom market are taking initiatives to deploy 5G wireless services in Sri Lanka. For Instance, HUTCH collaborated with ZTE to demonstrate the fastest 5G speed in Sri Lanka. HUTCH made several 5G trials. According to Ookla global broadband speed test, HUTCH scored a speed of 1.8Gbps. This is the fastest 5G speed trial made in Sri Lanka.
- Government authorities are working with private telecom service providers to expand wireless broadband connections. According to Ookla Speedtest Global Index, Sri Lanka ranked 127th with a median fixed broadband download speed of 19.63 Mbps in September this year.
Rising demand for OTT Services
- Increasing mobile subscribers will significantly increase the demand for OTT (over-the-top) services. OTT service providers such as Netflix and Amazon Prime offer on-demand videos for customers, thus creating new growth opportunities for the telecom market.
- Sri Lanka Telecom (SLT) launched an Online streaming service OTT (Over-The-Top) platform. SLT partnered with prominent players in digital media entertainment, Hungama Digital Media Entertainment (Pvt) Limited and Evoke International (Pvt) Limited. This partnership will provide SLT broadband customers with high-quality video streaming services.
- Customers are migrating to mobile-based OTT services, thus creating new growth opportunities for the telecom market. According to Ookla Speedtest Global Index, Sri Lanka ranked 117th with a median mobile broadband download speed of 13.98 Mbps in September 2022. The mobile broadband subscription increase and thus create more demand for OTT service providers.
- According to Opensignal's 4G Video Experience, Dialog users score the highest among other telecom players (Airtel, Hutch, Mobitel). High-quality video channels, flexibility, and scalability deliver world-class OTT streaming services for customers, which will continue further growth in the telecom market.
Sri Lanka Telecom Industry Overview
Sri Lanka's telecom market is moderately fragmented due to the ongoing partnerships and recent advancements in the market. Some major players in the market studied include Dialog Axiata, Airtel, Hutchison Telecommunications Lanka (Hutch), SLTMobitel, and Lanka Bell.
In March 2022, Dialog Axiata trialed a 5G Standalone (SA) network. The successful trial of the 5G Standalone network keeps a key milestone in advancing connectivity infrastructure.
In April 2022, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) approved Bharti Airtel Lanka's request to shut down its 3G mobile network. During this transition phase, the 3G subscriber will be shifted to the 4G network.
Sri Lanka Telecom Market Leaders
Dialog Axiata
Airtel
Hutchison Telecommunications Lanka (Hutch)
SLTMobitel
Lanka Bell
*Disclaimer: Major Players sorted in no particular order
Sri Lanka Telecom Market News
- June 2022 - SLT-Mobitel expanded its footprint by launching a pre-commercial 5G network to Colombo, Kandy, Anuradhapura, Galle, and Jaffna. 5G network provides high-speed services for end-users to access mobile broadband and fixed wireless access (FWA) services.
- October 2022 - The Asian Development Bank (ADB) and Dhivehi Raajjeyge Gulhun Public Limited Company (Dhiraagu) have agreed on a USD 20 million debt financing facility to expand mobile and internet coverage in the Maldives by supporting the company's capital expenditure requirements and helping to finance for project SEA-ME-WE 6 Submarine Cable System (SMW6).
Sri Lanka Telecom Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Ecosystem Analysis
4.3 Industry Attractiveness-Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 COVID-19 Impact on the Industry Ecosystem
4.5 Regulatory Landscape in the Sri Lanka
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising demand for 5G
5.1.2 Growth of IoT usage in Telecom
5.2 Market Restrain
5.2.1 The emergence of stiff competition is a concern for the industry
5.3 Analysis of the Market based on Connectivity (Coverage to include In-depth Trend Analysis)
5.3.1 Fixed Network
5.3.1.1 Broadband (Cable modem, wireline-fiber, wireline DSL, fixed Wi-Fi ), Trends regarding ADSL/VDSL, FTTP/B, cable modem, FWA, and 5G FWA )
5.3.1.2 Narrowband
5.3.2 Mobile Network
5.3.2.1 Smartphone and mobile penetration
5.3.2.2 Mobile Broadband
5.3.2.3 2G, 3G, 4G and 5G connections
5.3.2.4 Smart Home IoT and M2M connections
5.4 Analysis of Telecom Towers (Coverage to include in-depth trend analysis of various types of towers, like, lattice, guyed, monopole, and stealth towers)\
6. MARKET SEGMENTATION
6.1 By Services
6.1.1 Voice Services
6.1.1.1 Wired
6.1.1.2 Wireless
6.1.2 Data and Messaging Services (Coverage to include Internet & Handset Data packages, Package Discounts)
6.1.3 OTT and PayTV Services
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 SLT-MOBITEL
7.1.2 Dialog Axiata
7.1.3 Airtel
7.1.4 Hutchison Telecommunications Lanka (Hutch)
7.1.5 Lanka Bell
7.1.6 AT&T
7.1.7 Teleperformance
7.1.8 Orange
7.1.9 Nokia
7.1.10 Ericsson
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Sri Lanka Telecom Industry Segmentation
Telecom or telecommunication is the long-range transmission of information by electromagnetic means.
Sri Lanka Telecom Market includes in-depth trend analysis based on connectivity like Fixed Networks, Mobile Networks, and Telecom Towers. The telecom services are divided into Voice Services (Wired and Wireless), Data and Messaging Services, and OTT and PayTV Services. Several factors, including an increasing demand for 5G, likely drive the adoption of telecom services.
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Services | ||||
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| Data and Messaging Services (Coverage to include Internet & Handset Data packages, Package Discounts) | ||||
| OTT and PayTV Services |
Sri Lanka Telecom Market Research FAQs
What is the current Sri Lanka Telecom Market size?
The Sri Lanka Telecom Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Sri Lanka Telecom Market?
Dialog Axiata, Airtel , Hutchison Telecommunications Lanka (Hutch), SLTMobitel and Lanka Bell are the major companies operating in the Sri Lanka Telecom Market.
What years does this Sri Lanka Telecom Market cover?
The report covers the Sri Lanka Telecom Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sri Lanka Telecom Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sri Lanka Telecom (SLT) Industry Report
Statistics for the 2024 Sri Lanka Telecom (SLT) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sri Lanka Telecom (SLT) analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
