New normal, newer technologies

There were approximately 670 million mobile broadband subscribers in Latin America at the end of 2019. Regardless (or because) of the pandemic, this figure is set to increase. The number translated into a regional mobile penetration rate projected to reach 70 percent by 2021. An expanding market comes with the development and massive spread of new technologies. Long-Term Evolution (LTE, also known as 4G) concentrated little more than half of all mobile subscriptions in Latin America and the Caribbean in 2019. That same year, 3G accounted for around 35 percent of the subscriptions, while 5G was nowhere to be seen. It was forecast that, by 2025, nearly 70 percent of mobile subscriptions in the region will entail 4G technology, whereas 5G will account for 13 percent of that market.

A land of rivalrous titans

Some of the largest corporations in the telecommunications field worldwide dominate this sector also in Latin America. The leading telco provider in the region is América Móvil, mostly known by its brand Claro and for being part of the empire of Mexican magnate Carlos Slim. Madrid-based Telefónica followed, with its revenue in Brazil alone adding up to almost as much as it did in the other eight Latin American countries where the company operates. Similarly, the segment of mobile telecommunications infrastructure had a clear leader in the region in 2020: American Tower, whose revenue generated by leasing towers to telecommunication providers amounted to more than that of its major competitors all together. In January 2021, American Tower acquired the infrastructure of Telefónica’s Telxius both in Europe and Latin America, indicating a tight competition where often the winner takes it all.

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