Market Trends of Greece Telecom Industry
Wireless Voice Services is Expected to Hold Significant Share in the Greece Telecom Market Over the Forecast Period
- Greece has been witnessing an increasing adoption of smartphones to support the country’s inclusive digital transformations across various industries, fueling the adoption of wireless voice services. For instance, GSMA Intelligence said mobile connections in Greece equaled 145.3% of the total population in January 2024. Moreover, the number of mobile connections in Greece increased by 28,000 (0.2%) between the start of 2023 and the start of 2024.
- The country's wireless telecom service subscription is accelerating with the adoption of wireless telephones and the decreased cost of voice services. For instance, in January 2024, ten '5G for Smart Communities' projects received funding of EUR 50 million each. These projects aim to pilot 5G standalone systems and support the EU Digital Decade goals. One project, 5G-TERRA, aims to provide high-quality 5G services to remote areas in Greece, with an EU contribution of EUR 4.95 million.
- The country’s government is supporting the growth of telecom service expansion by approving the licenses of telecom operators to provide their services in Greece, which include voice services to increase the telecom service footprints in the previously unserved areas of the country. For instance, according to the International Trade Administration, Greece aims to boost connectivity significantly. By 2027, the country plans to extend very high-capacity networks, such as 5G and fiber optics, and digitally link its islands, with a target of reaching 94% coverage.
- Furthermore, in September 2023, Phaistos Investment Fund invested strategically in the Greek technology company WINGS ICT Solutions. 5G Ventures and a strategic investor from Greece also announced their co-investment in WINGS ICT Solutions. WINGS ICT Solutions specializes in developing IoT services and products using advanced technologies such as 5G, Big Data, and Artificial Intelligence.
- Overall, the increasing adoption of smartphones in the country, supported by the broad network coverage offered by the telecoms and the government initiatives to increase telecommunication services, are fueling the market growth of the country’s wireless voice service.
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Rising demand for 5G
- As 5G technology offers faster data speeds and lower latency than other mobile networks, the country's demand for 5G connection and services is growing. Also, 5G connectivity provides seamless streaming, faster downloads, and real-time communication, driving the demand for telecom services in the country.
- The growing popularity of video streaming, online gaming, and other data-intensive applications drives the demand for higher data speeds and capacity. With 5G, telecom operators can meet this increasing demand for mobile data consumption, resulting in higher revenue opportunities in the market. For instance, the 2023 European E-Commerce Report shows that 75% of internet users purchased goods or services online in 2023.
- According to data from Meta's planning tools, Instagram's potential ad reach in Greece surged by 200,000 users, marking a 4.9% increase from January 2023 to January 2024. Similarly, ByteDance's ad planning tools revealed that TikTok's potential ad reach in Greece grew substantially, adding 829,000 users, a 27.5% uptick from early 2023 to early 2024.
- Telecom operators are investing in expanding and upgrading network infrastructure to meet the increasing demand for mobile and fixed broadband services. This includes deploying 5G networks and fiber-optic networks and modernizing existing infrastructure. For instance, in June 2024, Vodafone Greece introduced a new promotion that bundles mobile and fixed telephony services. This offer is available to new customers who subscribe to both services. Additionally, these customers will receive access to the Vodafone TV platform and a complimentary 55-inch smart TV.
