APAC telcos' annual revenue growth moderated to 5.1% in FY-2023, with 88% reporting revenue growth. ARPU levels remained flat at ~USD 11. Telcos are focusing on enterprise and non-connectivity revenue streams for growth. Generative AI and FWA present significant opportunities for growth. EBITDA margin stabilized at 38.7% in FY-2023. Telcos are strategically shifting focus to "beyond connectivity" offerings. Average CAPEX intensity declined in FY-2023. ARPU levels stabilized with ~72% of APAC telcos reporting growth in FY-2023. Key suggestions and recommendations include focusing on "beyond connectivity" offerings, adopting Generative AI, digitalizing network management capabilities, and focusing on enterprise non-connectivity offerings.

Top 5 telecom vendors saw 4.4% revenue growth in FY-2023, led by Cisco and Huawei. Ericsson and Nokia saw declines. 5G deployments in developed markets and challenging macroeconomic scenarios impacted overall growth. Cisco's revenue increased by 7.7% YoY, while Ericsson's revenue fell by 3% YoY and Nokia's revenue declined 10.6% YoY. Huawei's revenue surged 9.6% YoY, and ZTE's revenue grew 1.1% YoY. Overall carrier network business revenue increased by 2.6%, and overall enterprise sales grew from 18.2% to 19.2% of total revenue. All vendors (except Cisco) increased R&D spending. India boosted revenues for Cisco, Ericsson, and Nokia, but Indian telcos plan to regulate CAPEX spending in 2024. Cisco, Ericsson, and Nokia announced workforce reductions. Cloud-native solutions, 5G, Open RAN, network monetisation, and optical networks are key themes shaping telecom engagements in FY-2023. The market is expected to stabilise as operators focus on 5G Standalone, Open RAN architecture, and monetising 5G services to meet growing capacity needs and new use cases.

The Asia Pacific telecom safari is a guide for industry stakeholders, highlighting revenue growth, EBITDA margins, 5G challenges, AI innovation, and more. It offers insights and trends for executives, strategists, analysts, investors, and policymakers.

Thailand's GDP growth slowed to 1.9% in 2023 due to weak exports, but tourism and private consumption are expected to drive growth. The digital economy's contribution to GDP is estimated to reach 11.2% by 2027. Telecom market is expected to grow at a CAGR of 3.4% between 2023-2027.