Guatemala is outperforming its regional peers in terms of mobile penetration, according to data and analytics firm GlobalData.
The country’s mobile subscription penetration of population reached an estimated 116.7% in 2018, higher than the regional average of 113.4%. Penetration is expected to grow to 123.3% by 2023, mainly driven by strong growth in handset subscriptions and rising M2M adoption
Connected device subscriptions will significantly decline at a -10.4% Compound Annual Growth Rate (CAGR) between 2018 and 2023, as the penetration of smartphones with major capabilities take place, replacing the connected data capabilities.
While handsets totalled up to 94.8% of total mobile subscriptions in Guatemala in 2018, GlobalData expects this ratio to fall to 93.9% by 2022 as the proportion of M2M connections grows.
Ivan Maldonado, Technology Analyst at GlobalData, said: “Total mobile service revenues will generate an estimated $2.1bn in 2018 and reach $2.9bn by 2023, growing at a CAGR of 6.2% over the period. The total growth will be driven by a rise in consumption of mobile data services led by 4G LTE and LTE-A networks expansions by telecom operators. Although new customers will be added, this will be counterbalanced by the deduction of inactive prepaid accounts.”
ARPU will increase from an estimated $9.35 in 2018 to $10.46 by 2023, mainly driven by significant increase in postpaid mobile subscriptions and sustained roaming rates. While prepaid ARPU will increase from $8.01 in 2018 to $8.18 by 2023, postpaid ARPU will grow from $23.06 in 2018 to $25.53 by 2023. An improving postpaid base, as well as the introduction of M2M solutions, will support an increase in ARPU.
