Kuwait Telecom Companies (2024 - 2029)

Kuwait Telecom Market Companies Summary

The telecommunications industry in Kuwait is poised for significant growth, largely driven by the country's efforts to diversify its economy. The Kuwait Vision 2035 program is opening up new investment opportunities for telecom and ICT providers, allowing them to offer premium 5G services as the 5G network undergoes expansion and renovation. Customers are set to benefit from stable, high-speed connections as telecom providers extend their fiber optic networks to untapped regions. Despite challenges in digital transformation due to the need for a specialized skilled workforce, these firms are actively addressing the gap with measures such as matching contemporary education with market demands, improving technology access, and reskilling the current workforce. The telecom industry is also seeing a steady increase in 5G traffic, leading to a positive rise in revenue and profit for the operators. The 5G networks have been a key investment focus for these entities, contributing to their recent revenue growth. The government's National Development Plan - Kuwait Vision 2035 program, is also promoting advancements and investments in fixed broadband connection, leading to an expected rise in fixed broadband penetration in the future. The increase in fixed voice is primarily due to VoIP services offered by telecoms through fixed broadband networks. The telecom industry in Kuwait has managed to remain largely unaffected by the COVID-19 crisis, with some companies even seeing growth due to an increase in data traffic.