Mobile subscriptions in the Americas will grow at a CAGR of 4.1 per cent by 2023

Mobile subscriptions in the Americas will jump from 1.2bn in 2018 to 1.5bn by 2023, growing at a 4.1 per cent CAGR (compound annual growth rate), according to a study conducted by GlobalData, a data and analytics company.

With 5G becoming an increasingly popular endeavor for mobile network providers, 5G mobile subscriptions are expected to reach 204m by 2023. GlobalData predicts the US will have the largest 5G market of the Americas, with 5G accounting for 26.8 per cent share of total mobile subscription in the US by 2023.

‘‘Mobile penetration will rise from 120.8 per cent in 2018 to 141.1 per cent by 2023, led by a significant rise in penetration levels, in the US and Canada in North America and Brazil and Mexico; in LATAM with rising M2M/IoT subscriptions,” said Leandro Agion, technology analyst, GlobalData.

From 2018 to 2023, GlobalData says 4G will be the leading mobile technology, and its share will increase from 59.6 per cent in 2018 to 70.1 per cent by 2023. According to the report, mobile network providers and carriers will greatly expand 4G technology in this time period, especially within Latin America. Meanwhile, carriers in the US, like “AT&T” for instance, are trying to actively shut down their 3G networks by 2022 and recycle the same spectrum for 4G/5G uses.