Latin America is expected to reach a total of 425 million 5G connections by 2030, representing a 55% increase from 2024, according to the GSMA.
Although the region has experienced significant advances in the telecommunications sector during 2024, with a focus on expanding connectivity and adopting emerging technologies such as 5G, challenges persist related to infrastructure, regulation, and equitable access to digital services.
The Global Telecom Outlook 2024–2028 report by PwC indicates that revenue from fixed and mobile services in the region increased by 4.3% in 2023, reaching $1.14 trillion, and this trend is expected to continue with a compound annual growth rate (CAGR) of 2.9% through 2028, although this is below the projected inflation rate.
Regionally, Latin America is projected to reach 425 million 5G connections by 2030, reflecting a 55% growth from 2024, according to estimates by the GSM Association (GSMA).
In Panama, the National Authority of Public Services (ASEP) presented a comprehensive analysis of the country’s telecommunications sector during Conecta Latam, an event that brought together leaders from telecom operators, regulators, analysts, government officials, and digital transformation providers.
This presentation contextualized the sector’s challenges and opportunities, such as the need to connect unserved communities and reduce the digital divide—a goal that requires the synergy of all stakeholders involved in the ecosystem.
At the same time, the ASEP stressed the importance of regulatory updates and process optimization “to promote the efficient use of networks, improve infrastructure, and ensure effective competition between large and small concessionaire companies, with the goal of providing customers and users with better service quality and continuity,” according to a statement released via its digital platforms.
In Central America, closing the uneven progress in infrastructure development is critical. Moreover, the region must address issues related to regulatory frameworks and security.
A report by EY emphasizes that telecommunications companies must adopt a holistic risk perspective, including technological transformation and disruption to the value chain, to remain resilient in a rapidly evolving environment.
The same PwC report highlights that structural change will drive increased demand for connectivity and communication services in the coming years, while the telecommunications industry itself is undergoing a transformation that is opening new opportunities.
The report identifies strategic investment in artificial intelligence, fixed connectivity, and B2B services as key factors; as well as collaboration with investors and regulators to optimize the market and reliance on acquisitions and alliances to achieve scale.
