In Latin America, fixed broadband revenue will increase from $23.8bn in 2019 to $28.7bn in 2024, at a compound annual growth rate (CAGR) of 3.8%, according to GlobalData.
Growth will be driven mainly by broadband service adoption in the residential market, supported government broadband development initiatives and operators’ investment in fiber-optic Infrastructure in countries such as Brazil, Mexico, Colombia and Chile. In this sense, FTTH/B will account for 31% of total fixed broadband lines in 2024, up from an estimated 21% in 2019.
By the end of 2019, Brazil will be the largest fixed broadband market in Latin America both in terms of broadband lines (31.8 million) and revenue ($9.1bn), followed by Mexico with 20.6 million broadband lines and $5.5bn in revenue.
Ivan Maldonado, Technology Analyst at GlobalData, said: “Bolivia will be the fastest growing market in terms of broadband service revenue, expanding at a CAGR of 9.4% between 2019 and 2024. The region as a whole, in terms of fixed broadband line penetration of population will reach 13.2% in 2019, and 16.5% by the end of 2024.”