LATAM’s mobile subscriptions reached 713 million by 2018 and will increase to 816.5 million by 2023, while mobile penetration of population will increase from 111.9% in 2018 to 122.2% by 2023, says GlobalData, a leading data and analytics company.

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The number of 4G connections will surpass 3G in 2019, becoming the leading mobile technology with an estimated share of 57.2% total mobile subscriptions at the end of 2018, expanding to 83.8% by 2023. Growth will be owed to continuous expansion of LTE networks carried out by all the major operators.

Leandro Agion, Technology Analyst at GlobalData, commented, “Latin American countries will launch 5G services in 2020, with Chile launching earlier in the year. Several countries including Argentina, Bolivia, Mexico, Peru and Uruguay will witness the launch of 5G networks in 2021. 5G subscriptions will account for 4.2% of total mobile subscriptions in Latin America by 2023.”