Latest news with #GlobalData
Time of India
a day ago
- Business
- Time of India
Mobile services revenue to grow at 5.4% CAGR to $39.3 bn by 2029
The continued rise in service penetration, especially in rural and underserved markets, and growth in the 5G-led mobile data services segment is set to boost India's mobile services revenue to a compound annual growth rate (CAGR) of 5.4% to $39.3 billion in 2029 from $30.2 billion in 2023 boosted by, a report said. However, mobile voice service revenue is set to fall 2.5% annually due to the growing consumer preference for internet-based communication services and bundling of free voice minutes with mobile service plans, analytics firm GlobalData said. It added that this would lead to a drop in the voice average revenue per user (ARPU) levels. But mobile data services will offset that drop and help total mobile services market to maintain strong growth till 2029, GlobalData said. Mobile data service revenue is expected to rise at 9.3% CAGR between 2024 and 2029, driven by growing availability of 4G and 5G networks across the country, and increasing consumption of mobile data as adoption of higher-ARPU yielding 5G data plans increase. "The average monthly data usage over mobile networks is forecast to increase from 23.9GB in 2024 to 51.5GB in 2029, driven by the growing consumption of online video and social media content over smartphones on the back of data-centric packages offered by telcos," said Hrushikesh Mahananda, a telecom research analyst at GlobalData. The firm said that while 4G will remain the leading mobile technology in terms of subscriptions till 2026, 5G subscriptions will surpass 4G to account for 67% share of the total mobile subscriptions in 2029, driven by ongoing 5G expansions. The surge in 5G subscriptions will also be helped by increasing demand and wider availability of 5G-enabled smartphones and promotional 5G plans with value-added benefits.
Yahoo
a day ago
- Automotive
- Yahoo
RAC wise to target younger and older motor insurance customers with telematics policies
The RAC is launching two, new forms of telematics insurance; targeting both younger and older customers in the UK. GlobalData's 2024 Emerging Trends Insurance Consumer Survey suggests this is a positive move to attract new customers. It has partnered with the insurtech Ticker and launched a policy targeting young drivers with traditional telematic policies. It will release a pay-per-mile-type policy later this year, which aims to target over 60s who drive fewer miles. GlobalData's survey found that both telematics and pay-per-mile insurance policies were effective ways of increasing customer satisfaction. It found that of global consumers who had a telematics policy, 77.4% of them were either satisfied or very satisfied with the premium savings it led to in their policy. Furthermore, 89.2% would be quite or very likely to recommend this type of policy to a friend. Pay-as-you-go (PAYG) policies had slightly-lower satisfaction rates. They were still strong though, with 6.4% satisfied or very satisfied with its impact on premiums and 84.2% quite or very likely to recommend it to a friend. This highlights the widespread satisfaction levels with telematics and PAYG policies around the world. There can be some skepticism among those who do not have such policies, with many hesitant to share personal data or have their driving judged, but GlobalData's survey strongly suggests that those who do have it are satisfied. Therefore, the data suggests a higher likelihood of renewal. The RAC is not a leading player in the UK motor market at present—GlobalData's 2024 UK Insurance Consumer Survey placed them as the 14th-biggest motor insurer in the UK with a 2.1% share. However, its specific targeting of the two, crucial demographics of younger and older generations appears wise. They are two age groups that require more-tailored treatment due to being higher risk and facing higher premiums. Therefore, if the RAC can market its new products and attract customers, it should see strong retention and even growth via word of mouth. "RAC wise to target younger and older motor insurance customers with telematics policies" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
a day ago
- Business
- Yahoo
Construction firms lean heavily on credit to cover soaring insurance premiums
UK construction SMEs are relying more than any other sector on borrowing to cover the rising cost of insurance, according to new figures from Premium Credit. Fresh analysis from the insurance premium finance provider shows that construction firms accounted for 13.8% of all SME insurance loans in 2024, maintaining their position as the most credit-reliant sector for this purpose. While this was slightly down from 14.3% in 2023, it remains above pre-2022 levels. The data comes at a time when the construction sector is already battling tight margins, rising material costs, and high insolvency rates. Insurance is just one more cost many small firms are finding difficult to absorb upfront. According to Premium Credit's Insurance Index, more than half (54%) of SMEs now rely on credit to fund insurance, borrowing an average of £1,180—a slight rise from £1,130 in 2023. 'Credit plays a major role in funding vital insurance premiums,' said Jon Howells, Chief Commercial Officer at Premium Credit, adding that construction is 'consistently the biggest sector for lending'. The rising cost of business insurance is a growing concern across all sectors. Premium Credit's latest survey found that 51% of SMEs reported an increase in premiums over the past 12 months, with 10% saying costs had gone up dramatically. Construction firms — many of which already rely on asset finance to lease vital equipment or manage working capital — are feeling the pinch. Insurance cover, particularly for liability and indemnity, can be a major burden for firms working on tight cashflow and complex contracts. While construction still dominates in overall borrowing, the Professional and Scientific sector has seen the fastest growth, rising to 13.3% of total loans—up 1.2 percentage points on 2022. Manufacturing, wholesale/retail, and land transport round out the top five sectors for insurance premium borrowing. Leasing lays the foundation as UK construction sector feels the strain "Construction firms lean heavily on credit to cover soaring insurance premiums" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Amazon expands its presence in India with five new fulfilment centres
Amazon, the American e-commerce giant, announced the opening of its five new fulfilment centres (smart warehouses) in India ahead of Prime Day 2025. The newly established facilities are now operational in Delhi NCR, Rajpura (Punjab), Indore (Madhya Pradesh), Kochi (Kerala), and Bhubaneswar (Odisha), representing Amazon's inaugural fulfilment centres in four of these locations. This expansion plays a crucial role in the company's recently disclosed $233m investment aimed at improving its logistics and operational infrastructure across India. With this infrastructure expansion, the company aims to improve well-being, safety initiatives, and the implementation of new tools and technologies within its fulfilment ecosystem. This investment will further strengthen Amazon's capacity to provide services across all accessible PIN codes in India, prioritising both speed and efficiency in its commitment to customers. Abhinav Singh, Amazon's vice president of operations in India and Australia, said: "We are focused on building and operating India's fastest, safest and most reliable logistics network that delivers to customers across the country. These five new fulfilment centres represent a significant investment in our operations infrastructure and demonstrate our commitment to our customers and sellers across India. With Prime Day 2025 approaching, Prime members can look forward to even faster deliveries, with lakhs of items available for same-day or next-day delivery." These centres aim to facilitate quicker delivery of customer orders, enhance seller outreach, and generate job opportunities across both full-time and part-time positions within Amazon's operational network. The facilities are fully functional in advance of Prime Day and will be vital in guaranteeing rapid deliveries for customers during the peak demand event in July 2025. The announcement comes after Amazon achieved a record-breaking year in 2024, during which the company provided over 410 million items to Prime members with same or next-day delivery, marking its quickest delivery times ever. "Amazon expands its presence in India with five new fulfilment centres" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Daily Mail
a day ago
- Business
- Daily Mail
Amazon making major change to Prime that will affect the whole of the US
Amazon is planning to expand its same-day and next-day delivery to over 4,000 small cities, towns, and rural communities in the US. Thousands of its 200+ million Prime members will have the pleasure of having this benefit by the end of the year. The plan comes after the company invested over $4 billion to triple the size of its delivery network by 2026. Amazon is expanding the network to help customers who 'live farther from brick-and-mortar retailers, have fewer product and brand choices, and face limited delivery options when shopping online.' 'The money saving is important, but for many rural customers, the more critical dynamic is the time saved by using Amazon. The expanded choice that Amazon offers is also very appealing to shoppers who are miles away from big malls and stores,' GlobalData retail expert Neil Saunders told 'For Amazon, rural gains are an important part of driving Prime penetration. And the business is confident it can service this profitably by adapting existing rural delivery stations into hybrid hubs which store inventory Amazon's algorithms know will be popular in the area.' Shoppers interested in trying out the platform can do so for $14.99 a month or $139 a year. The project announcement comes after Amazon made the decision to expand its Prime Day sales event to four days from two. Prime Membership Prime provides a range of benefits on top of next and same day delivery and is available on a 30 day free trial. After the trial, membership costs $14.99 a month or $139 a year. $139/year Shop The company had already been the topic of conversation during the rise of inflation and fears of recession after CEO Andy Jassy warned shoppers tariffs potentially rising prices. While Amazon's net sales skyrocketed to $155.7 billion this quarter, the company has been slammed by its employees and Prime members. Shoppers claimed they would cancel their memberships last year after finding out the company was axing its Amazon Today service. Prior to its removal, it was a popular perk that provided same-day delivery from select stores in the customers' neighborhoods. Members also canceled accounts after finding out its streaming service started rolling out more advertisements across its TV shows and films. The company didn't stop there with its prime perk change-ups and infuriated customers even more by raising the price of its Amazon Music Unlimited ad-free subscription program. Besides its member benefit terminations, fans have begun turning their backs on Amazon after Jassy issued a warning of brutal workforce cuts. It is unclear when the layoffs will begin and how many jobs will be axed, but Jassy revealed the cuts were the result of the company's increase in artificial intelligence. There are over 200 million active Amazon Prime members worldwide The company is keeping itself busy by preparing for Prime Day, recently warning its members about increases in cyber scams. It's also exploring the idea of creating its own currency, an idea that could save the company and retailers like Walmart and Target billions of dollars. Amazon is expecting to make between $159 billion and $164 billion during its second quarter, along with a $13 billion to $17.5 billion operating income. The company will release its second quarter results on July 31 after the market closes.
