While telecoms revenue is expected to dip in Mexico for 2017, down 6.8 percent on 2016 to $16.9bn, between now and 2022 it will be one of the fastest growing markets in Latin America.

The market in Mexico has lost over a third of its US-denominated value since 2012, the combined result of a weakened peso, regulatory measures imposed on market leaders Telmex and Telcel and competition driving down prices.

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Over the next five years the industry is forecast to grow at 5.2 percent, driven by increased competition between more evenly sized players, as Grupo Televisa and AT&T expand their presence to challenge Telmex and Telcel.

New projects like Altan’s Red Compartida LTE wholesale network and the Red Troncal fiber-optic backbone owned by CFE will drive new users.

Mobile data and fixed broadband will see the biggest revenue increases over the next five years, with a combined $7.6bn lift between 2016 and 2022.