Alexandra Borgeaud
Research expert covering cybersecurity and tech in Latin America
Telecoms in Latin America - statistics & facts
From the heavenly Copacabana Beach to the heights of Bogotá, the telecommunications sector in Latin America has looked to invest in infrastructure to meet the demands of a population of over 656 million people, as well as a data-hungry digital economy. 5G has been a core focus for governments and operators, with benefits expected for a large array of industries. 5G subscriptions are expected to soar alongside this, with a forecast of over 54 million 5G subscriptions in 2024 – up from just 10 million in 2022. As the successor to 4G, 5G offers users lower latency, higher reliability, and better connection performance, and is expected to contribute greatly to digital transformation on the continent.
Dynamic and growing, the telecoms industry in Latin America is characterized by fierce competition between providers, who will need to seize the opportunities presented by technological developments to offer new services to satisfy an ever-growing customer demand for innovative digital services.
Mobile internet penetration varies widely across the region
Mobile services have generally been on the rise in Latin America. For instance, in 2023, there were over 205 million mobile broadband subscriptions in Brazil, against only 50 million fixed broadband subscribers. However, mobile broadband penetration varies widely across the continent, with Uruguay and Chile reaching a penetration rate of around 110 percent in 2023, while several countries including Ecuador and Honduras fell short of 65 percent. Strongly facilitated by the deployment of 5G across the continent, mobile internet penetration in Latin America is expected to increase from 65 percent in 2023 to over 70 percent by 2030.América Móvil leads the market
América Móvil is considered the largest player in the Latin American telecoms market, reporting annual revenue of around 750 billion Mexican pesos in the region in 2023 (equivalent to 44 billion U.S. dollars as of 31 December 2023). Owned by Mexican business magnate Carlos Slim, the firm operates the telecom brand Claro throughout the region, though Mexico remains its largest market. The Madrid-based operator Telefónica is América Móvil’s biggest rival, reporting revenue of around 18 billion euros in 2023 (equivalent to 20 billion U.S. dollars as of 31 December of that year). Meanwhile, Boston-based American Tower, which leases towers to telecommunication providers, reported revenue of almost 1.8 billion U.S. dollars in 2023.Dynamic and growing, the telecoms industry in Latin America is characterized by fierce competition between providers, who will need to seize the opportunities presented by technological developments to offer new services to satisfy an ever-growing customer demand for innovative digital services.
