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August 22, 2017updated 27 Jan 2022 2:15pm

Mexico is about to become one of the fastest growing telecom markets in Latin America

By GlobalData Technology

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.