Latin America. The wireless telecommunications industry continued to experience a strong expansion of wireless cellular technology in the second quarter of 2024 thanks to the sustained growth of the Internet of Things (IoT) ecosystem, said 5G Americas, the voice of 5G and subsequent generations of the Americas.
According to data from 5G Americas and Omdia, there are currently 3,400 million IoT subscriptions in the world, and they are complemented by 6,700 million smartphone subscriptions. As 4G LTE-connected IoT devices upgrade to flexible 5G-enabled IoT technologies, such as 5G RedCap (Reduced Capacity), the new optimizations offer network operators benefits such as increased power and network efficiency. Thanks to these improvements, global projections suggest that IoT will reach 5.2 billion subscriptions, while smartphone subscriptions will increase to 8.2 billion by 2029.
Viet Nguyen, Vice President of Public Relations and Technology at 5G Americas, said, "The market is understanding that 5G networks are more than smartphones. Business and business cases are emerging that show the versatility of 5G in a range of uses, using devices connected to the Internet of Things, such as sensors, cameras and many more solutions in both public and private 5G networks."
In total, in Q2 2024, global adoption of 5G connections exceeded two billion with the addition of 192 million new connections. Looking ahead, data from Omdia suggests that 5G connections around the world will reach 8.6 billion by 2029. In terms of share of all cellular wireless technologies, 5G is projected to make up 59 percent of the world's access networks by 2029.
In the last quarter, 5G connections in North America totaled 242 million, or 34 percent of all cellular wireless connections. The addition of 23 million new 5G connections represents an 11 percent growth over the previous quarter. By 2029, North America's 5G connections are projected to increase to 761 million, accounting for 84 percent of total wireless cellular access technologies.
Kristin Paulin, principal analyst at Omdia, notes: "As 5G adoption continues to grow in North America, operators continue to optimize their 5G networks. This includes expanding coverage with mid-band spectrum and moving to standalone 5G. The latter allows operators to do more, such as providing network slicing, and is the foundation for 5G RedCap."
Latin America also saw solid growth in 4G and 5G LTE connections, with three million new LTE connections for a total of 592 million across the region, or 74% of total wireless cellular access technologies in Q2 2024. In addition, the region continues to embrace the 5G revolution with ten million new 5G connections to reach a total of 57 million 5G connections reflecting a sustained growth rate of 21%. "4G LTE continues to grow across the region as an accessible and reliable alternative for the majority of consumers. 5G is beginning to make its way into urban areas as terminals become available and operators expand their coverage," said José Otero, Vice President of Latin America and the Caribbean at 5G Americas.
From a network deployment perspective, the number of 5G networks deployed in the world already exceeds the pace of 4G LTE network deployment at the same point in the 4G LTE cycle. Currently, there are 329 commercial 5G networks worldwide, a number that is expected to grow along with continued significant investments in 5G infrastructure around the world.
The number of 4G 5G and LTE network deployments as of September 16, 2024, is summarized below:
5G:
Global: 329
North America: 17
Latin America and the Caribbean: 47
4G LTE:
Global: 710
North America: 18
Latin America and the Caribbean: 133
