In Latin America, fixed broadband revenue will increase from US$23.8 billion in 2019 to US$28.7 billion in 2024, which represents a five-year compound annual growth rate (CAGR) of 3.8%.

Growth will be driven mainly through broadband service adoption in the residential market, supported government broadband development initiatives and operators’ investment in fibre-optic infrastructure in countries such as Brazil, Mexico, Colombia and Chile.

In this sense, fibre-to-the-home (FTTH/B) will account for 31% of total fixed broadband lines in 2024, up from an estimated 21% in 2019.

As of year-end 2019, Brazil will be the largest fixed broadband market in Latin America both in terms of broadband lines (31.8 million) and revenue ($9.1 billion), followed by Mexico (with 20.6 million broadband lines and $5.5 billion in revenues).

Meanwhile, Bolivia will be the fastest-growing market in terms of broadband service revenue, expanding at a CAGR of 9.4% during 2019-24. 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.

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