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February 24, 2021updated 27 Jan 2022 1:41pm

4G network expansion will boost mobile subscriptions in Panama

By GlobalData Technology

Total mobile subscriptions in Panama will reach 5.1 million in 2020 and will account for a small share of 0.7% of the total mobile subscriptions in Latin America region. Over the next five years, mobile operators in Panama will add a combined 500,000 mobile subscriptions, indicating a CAGR of 1.9% over the forecast period, bringing the country’s total mobile subscriptions to 5.6 million by the end of 2025.

4G subscriptions will account for 57.3% share of the total mobile subscriptions in 2020, expanding to 77% in 2025. Growth will be driven by the increasing adoption of 4G-enabled smartphones and operator investments in network expansions.

 

For example, to support 4G development in the country, Claro Panama announced plans to invest $300 million in the country to enhance its 4G LTE networks during 2020-2023.

This investment will also include the roll out 5G network in the main cities of the country. Moreover Tigo Panama, will invest around $750 million through 2025 in Panama in mobile and fixed network infrastructure, data centers, spectrum allocation, and other services.

We expect 5G services commercial launch by 2023, despite operators like Tigo Panama are already gearing up for 5G services by starting deployments of new mobile network with 5G capabilities in Guna Yala region.