South & Central America 5G Services Market Forecast to 2031 - Regional Analysis - by type

The South & Central America 5G services market was valued at US$ 1.87 billion in 2023 and is expected to reach US$ 54.79 billion by 2031; it is estimated to register a CAGR of 52.5% from 2023 to 2031.

Digital Transformation Fuels South & Central America 5G Services Market

Organizations struggle to be competitive in a rapidly changing and dynamic market. Through digital transformation, businesses aim to increase their competitive advantage, improve business performance and processes, and achieve business growth. Digital transformation has become a new model for many organizations to gain competitive advantages in the intense and dynamic market competition. Moreover, the COVID-19 pandemic has boosted digital transformation activities by forcing organizations to increase their use of digital platforms for consumers and employees. 5G plays a pivotal role in this new era of global digital transformation with its incredibly low latency, huge traffic capacity, and superfast data rates.

In such a massive digital revolution, 5G facilitates quick communication between IoT machines, sensors, and devices. 5G networks can carry data at peak rates of up to 20 Gbps, which is far faster than 4G networks. They have a high dependability of up to 99.9999% when sending data. Moreover, 5G offers faster and more reliable connectivity than previous generations of mobile technology. Businesses can use real-time data analytics and insights to optimize operations and improve customer experiences with 5G.

As industries worldwide move toward an intelligent world defined by connectivity and digitalization, integrating technologies such as 5G within industries helps speed up digitalization for faster, more stable connectivity for applications such as cloud computing, virtual reality (VR), and video streaming. Thus, digital transformation across industries is likely to provide opportunities for the 5G services market.

South & Central America 5G Services Market Overview

The National Telecommunications Agency (Anatel) has approved the licensing and activation of 5G technology stations in an additional 395 Brazilian municipalities. This leads to the total number of municipalities with 5G coverage to 3,678, covering ~181.3 million Brazilians, which represents ~85% of the population. As of March 2024, nine out of Brazil's 27 states have all their municipalities licensed for 5G. Moreover, according to GSMA, 5G subscribers in Brazil are forecast to reach 179 million by 2030. As per Brazilian carrier TIM, Brazilian cities with more than 500,000 inhabitants will use the 5G network by July 2025.

South & Central America 5G Services Market Revenue and Forecast to 2031 (US$ Million)

South & Central America 5G Services Market Segmentation

The South & Central America 5G services market is categorized into type, end user, and country.

• By type, the South & Central America 5G services market is segmented into enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), ultra-reliable low latency (uRLLC), and fixed wireless access (FWA). The enhanced mobile broadband (eMBB) segment held the largest share of the South & Central America 5G services market share in 2023.

In end user, the South & Central America 5G services market is bifurcated into enterprises and consumers. The enterprises segment held a larger share of the South & Central America 5G services market share in 2023. Enterprises sub segmented into IT & telecom, manufacturing, healthcare, BFSI, retail & e-commerce, and others.

• Based on country, the South & Central America 5G services market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil segment held the largest share of South & Central America 5G services market in 2023.

Deutsche Telekom AG, Huawei Technologies Co Ltd, Nokia Corp, Orange SA, Samsung Electronics Co Ltd, Telefonaktiebolaget LM Ericsson, Vodafone Group Plc, and ZTE Corp are some of the leading companies operating in the South & Central America 5G services market.

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