5G grows slower than expected in Latin America

The number of 5G connections in Latin America will reach 46mn this year, four times more than in 2022, but far below the 62mn forecast from September, according to a 5G Americas release, citing data by consultancy Omdia.

“The difference in our estimate of 5G connections in Latin America for the end of 2023 compared to our initial estimate is mainly due to the slower adoption of 5G in Brazil and the delay of the 5G tender in Colombia,” Omdia senior principal analyst for Latin America, Sonia Agnese, told BNamericas.

Colombia held a 5G spectrum auction on December 20. Omdia revised its projections for the country by 5mn connections and by 10mn for Brazil.

“We had a more optimistic view of the speed of 5G adoption in Brazil, but the still high cost of 5G devices added to the fact that there are no specific applications or use cases for 5G, meaning there are no incentives beyond the replacement of equipment and greater speed,” added Agnese.

Omdia also adjusted the 2028 forecast to 492mn from 501mn. “We maintain an optimistic vision for the coming years and an acceleration of the adoption of 5G,” Agnese said.

4G connections grew by 7mn to 572mn in the third quarter, according to Omdia.

In Latin America and the Caribbean, there are 133 4G and 32 5G networks deployed.