Alexandra Borgeaud
Research expert covering cybersecurity and tech in Latin America
Smartphone market in Latin America- statistics & facts
Whether used to take pictures of the heavenly Copacabana Beach, communicate across the Andes, or access information on the Copa América, smartphones have become vital tools for individuals in Latin America. From 600 million in 2023, smartphone subscriptions are forecast to reach nearly 700 million by 2029, translating to a smartphone adoption rate jumping from 80 percent in 2023 to over 90 percent in 2030 on the continent, with Brazil leading the way at 95 percent.
Given the fierce competition characterizing the Latin American market, smartphone providers will need to keep up with the development curve in an industry at the forefront of tech innovation and the opportunities presented by growing 5G adoption.
Mobile data traffic on the rise
The boom in smartphone adoption is expected to result in monthly mobile data traffic skyrocketing in Latin America, from 7.8 exabytes in 2023 to 30 exabytes in 2030. While smartphone use has initially concentrated on communication and entertainment, growing smartphone adoption is expected to increase the integration of services such as mobile commerce, mobile banking, or mobile health into the Latin American reality. Another factor leading to the growing number of smartphones in Latin America is the deployment of 5G networks across the continent, which is expected to translate into an exponential increase to over 320 million 5G mobile subscriptions by 2028. As the successor to 4G, 5G offers users lower latency, higher reliability, and better connection performance, and is expected to contribute greatly to Latin American economies.The reign of Samsung
Over recent years, the South Korean tech conglomerate, Samsung, has maintained a market share of over 36 percent in South America, making it the leading smartphone manufacturer in the region. When it comes to Chinese smartphone manufacturers, Huawei started off as one of the most popular smartphone brands in Latin America, accounting for over 20 percent of the market in Peru, Chile, Colombia, and Mexico by the end of 2020. However, 2021 saw the rise of Xiaomi smartphones. Despite being present in the Latin American market for a couple of years as an affordable brand, Xiaomi surpassed Apple’s market share in Latin America in 2020, becoming the third most popular brand in the region after Samsung and Motorola and accounting for 14 percent of the smartphone market on the continent at the end of 2023.Given the fierce competition characterizing the Latin American market, smartphone providers will need to keep up with the development curve in an industry at the forefront of tech innovation and the opportunities presented by growing 5G adoption.
