Mobile services revenue to grow to Rs. 3,35,976 crore (US$ 39.3 billion) in 2029 vs Rs. 2,58,180 crore (US$ 30.2 billion) in 2023: Report
- IBEF
- June 30, 2025
India’s mobile services revenue is projected to grow at a compound annual growth rate (CAGR) of 5.4% to reach Rs. 3,35,976 crore (US$ 39.3 billion) by 2029, up from Rs. 2,58,180 crore (US$ 30.2 billion) in 2023. This growth is primarily driven by increased service penetration in rural and underserved markets, alongside expansion in 5G-led mobile data services, according to a report by analytics firm GlobalData. While mobile voice service revenue is expected to decline by 2.5% annually due to a shift towards internet-based communication and bundled free voice minutes, the drop will be offset by rising mobile data revenues.
Mobile data service revenue is forecast to grow at a 9.3% CAGR between 2024 and 2029, fuelled by wider availability of 4G and 5G networks and greater consumption of data-rich content such as online video and social media. Average monthly mobile data usage is expected to more than double from 23.9 gigabytes (GB) in 2024 to 51.5 GB in 2029. Although 4G will dominate subscriptions until 2026, 5G subscriptions are predicted to surpass 4G by 2029, capturing 67% of total mobile subscriptions. This shift is supported by the greater availability of 5G-enabled smartphones and attractive promotional plans. Reliance Jio is anticipated to maintain its leadership in India’s telecom sector through 2029, owing to its vast 4G network and ongoing 5G rollout. The report emphasises that telecom operators investing in rural connectivity and digital inclusion will be well placed to capitalise on India’s evolving mobile landscape.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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