A new forecast from GlobalData shows the Asia-Pacific mobile services market is set to grow steadily, reaching more than $347 billion by 2030. The driver is clear: 5G. As Asian operators expand coverage and push adoption, mobile data continues to anchor revenue growth across the region.

The numbers point to a familiar pattern. Mobile services revenue is expected to grow at a modest 2.3% CAGR, while data usage rises much faster, from 26.6GB per month in 2025 to 45.6GB by 2030. In markets like China, 5G will account for nearly 88% of subscriptions by the end of the decade. At the same time, countries such as Pakistan and Sri Lanka are entering the 5G cycle, adding new momentum to regional growth.

Government policy is also reinforcing this trajectory. National 5G strategies across major APAC economies are supporting coverage expansion, ecosystem development, and new use cases across industries.

And yet, this growth is unfolding alongside a more cautious investment environment.

As highlighted in the Dell’Oro report we mentioned last Friday, global telecom capex is expected to decline in 2026 as operators shift focus from expansion to efficiency. With networks already in a strong position in terms of coverage and capacity, spending is becoming more targeted.

That tension is key. On one hand, 5G is clearly driving long-term revenue growth and data demand, particularly in high-growth regions like APAC. On the other, operators are becoming more disciplined in how they invest to support that growth.

The result is a more selective phase of the 5G cycle.

In APAC, this means continued rollout and expansion, but increasingly focused on high-impact areas such as dense urban zones, enterprise services, and markets where adoption is accelerating. 

Taken together, the direction is clear. Growth remains intact, demand is rising, and 5G continues to underpin the telecom outlook — but the way operators fund and execute that growth is evolving.