Greece Telecom Market Size (2024 - 2029)

Greece Telecom Market Analysis

The Greece Telecom Market size is estimated at USD 4.57 billion in 2024, and is expected to reach USD 5.11 billion by 2029, growing at a CAGR of 2.23% during the forecast period (2024-2029).

• The increasing demand for high-speed connectivity services and higher investments in 5G infrastructure are driving the growth of the telecom market in Greece. For instance, Ookla’s data revealed that the median mobile internet connection speed in Greece increased by 8.79 Mbps, which represented a 16.7% rise in the twelve months leading up to the start of 2023. Additionally, Ookla’s data showed that fixed internet connection speeds in Greece increased by 10.94 Mbps, reflecting a 34.3% increase during the same period.
• The growth of the telecom industry is primarily attributed to the increasing population and the widespread adoption of mobile phones that support 3G, 4G, and 5G services across the country. For instance, in May 2024, Grid Telecom and Quadrivium partnered to establish a new cable landing station (CLS) in Chania, located on the northern coast of Crete. This facility will provide infrastructure for the secure landing and operation of subsea optical fiber cable systems in Crete. The services will include housing for power feeding, subsea line terminating equipment, and other essential equipment for interconnecting and peering optical, Ethernet, and IP data traffic.
• Additionally, in June 2024, Vodafone Greece agreed to acquire 72.7% of the share capital of Hellas Online SA (HOL) from Intracom Group and World Equities Investments Holdings SA (WEI) for EUR 72.7 million. The transaction is subject to several conditions, including antitrust clearance by the relevant authorities.
• The government of Greece has launched initiatives to promote the development of the telecom sector. These initiatives include regulatory reforms, investment incentives, and promoting competition to attract telecom operators and stimulate investment in telecom infrastructure. For instance, according to ITA, Greece plans to invest USD 176 million in the development of 5G networks, USD 1.43 billion in the digital transformation of the public sector, and an additional USD 413 million in the digitalization of businesses, aiming to integrate digital technologies into SMEs.
• Furthermore, the government of Greece has implemented broadband subsidy programs to promote the deployment of high-speed internet in underserved areas and stimulate the adoption of broadband services. For instance, the National Broadband Plan 2021-2027, introduced before the pandemic, advocates for utilizing fixed very high capacity and 5G networks.
• Moreover, under the EU Smart Readiness Program, buildings that qualified for funding had to be located in areas where fiber-optic networks with a capacity of 1 Gbps had been installed or were planned for installation by 2026.
• Greece has shown advancements in Very High-Capacity Networks (VHCN) and 5G coverage. However, the nation must prioritize bolstering its mobile and fixed broadband services. Over the next decade, establishing robust fiber optic and 5G networks will be pivotal. Moreover, intense competition among telecom providers can pressure profit margins and require continued investment in infrastructure and technology to stay competitive.

Greece Telecom Industry Segmentation

Telecom or telecommunication is the long-range transmission of information by electromagnetic means. The Greece telecom market includes in-depth trend analysis based on connectivity, such as fixed networks, mobile networks, and telecom towers. Telecom services are divided into voice services (wired and wireless), data and messaging services, and OTT and pay-TV services. Several factors, including an increasing demand for 5G, are likely to drive the adoption of telecom services.

The market sizes and forecasts regarding value (USD) for all the above segments are provided.