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| Countries covered: Slovakia The Slovak telecom market generated ?1.7bn ($2.3bn) in service revenue in 2011, demonstrating growth of 3.3% year-on-year in local currency terms. We expect the telecom market to grow at a CAGR of 3.3% in local terms (2.0% CAGR in US terms) between 2011 and 2016, reaching ?2.0bn ($2.5bn) by 2016. Mobile voice revenue demonstrated a slight recovery in 2011, declining only at -0.8% y-o-y in euro terms, in comparison with the strong impact that termination rates cuts had on Slovak mobile voice revenue in 2010 (-13.5% y-o-y decline). We expect mobile voice's revenue decline to continue throughout the forecast period, though at a slower CAGR of -0.5%. Despite that mobile voice will remain an important revenue stream, accounting for 48% of total telecom revenue by 2016, and generating a cumulative ?5.6bn ($7.2bn) in service revenue at the same time. An increase in data demand, in conjunction with operators' continuous network investments, will result in total data revenue growth (fixed and mobile) at a CAGR of 10.2% in local terms (8.8% in USD) with the growth of mobile data alone at a 10.8% CAGR in local currency (9.4% in USD) over the forecast period. |
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