International Travel Trips to Exceed 1 Billion in 2022 for the First Time in 3 Years, as Travel Recovery Gains Momentum.
LONDON–(BUSINESS WIRE)–New research from roaming experts Kaleido Intelligence has forecast that total retail and wholesale roaming revenues from consumer and IoT mobile connections will exceed pre-COVID levels in 2023, reaching $30 billion in value. Combined, these revenues will represent a year-on-year growth of 40% in 2022, predicted to reach $22.7 billion globally by the end of this year.
Kaleido’s latest Mobile Roaming Data Hub H1 2022 report found that inbound and outbound roaming revenues from consumer mobile traffic will grow by 75% in 2022, compared to the overall roaming revenue growth, as global travel recovery gains momentum.
International Travel Trips to Exceed 1 Billion in 2022 For the First Time in 3 Years
The research found that consumer confidence in travel is gradually rising to pre-COVID levels, with international travel trips predicted to cross the 1 billion-mark for the first time in 3 years by the end of this year.
Although international travel volume in H1 2022 remained lower than pre-COVID levels, recovery prospects are significantly better than in 2021. However, the current conflict in Ukraine is having a direct impact on many travel corridors involving Russia, Ukraine, and other Eastern European countries, resulting in challenging recovery trajectories for these markets.
According to Kaleido’s Chief Analyst Nitin Bhas: “Despite the positive outlook, current travel conditions are challenging – with airlines struggling to cope with a post-COVID operating environment. Consumers are facing longer flights and higher ticket prices across many corridors. With inflation and weakened economic outlook gripping many countries and regions, the travel and roaming industry must prepare to address current and future headwinds for a faster recovery to profitable growth”.
Strong Growth for IoT Roaming, Despite Negative IoT Market Influences
Kaleido found that that future cellular IoT growth is likely to be constrained, because of prevailing economic headwinds resulting from the conflict in Ukraine in addition to China’s continued zero COVID policy. While the total market for IoT roaming is set to be dampened somewhat due to these market influences, roaming connections are nevertheless expected to outpace the overall cellular IoT market in terms of growth.
Kaleido predicts that roaming IoT connections are forecast to reach nearly 940 million in 2027, up from 297 million in 2021, growing at a CAGR of 22% between 2022 and 2027.
About Kaleido Intelligence
Kaleido Intelligence is a specialist consulting and market research firm with a proven track record delivering telecom research at the highest level. Kaleido Intelligence is the only research company addressing mobile roaming in its entirety, covering:
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