The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2017
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Latin America’s digital development is being fuelled by government action, especially through laws that encourage competition and implementation of projects that aim to extend fibre broadband among low-income consumers. The region is home to a growing middle class and fast-expanding cellular data consumption. Persistent income inequality and online security concerns need to be addressed for faster digital uptake.
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Latin American governments have tasted success in extending mobile coverage across countries. The region had the fastest growth in wireless broadband subscriptions over 2011-2016. While the voice segment is nearing saturation is some markets, operators have continued to invest in 4G LTE.
Historically telecom monopolies have been dominant in Latin America, which has negatively impacted digital penetration. In recent years, authorities have taken steps to curtail the dominance of operators such as America Movil. This, along with national broadband projects, is pushing digital connectivity.
Despite a strong cash culture and relatively low card penetration, digital commerce will post healthy growth due to higher smartphone usage and the convenience of online purchases. Social networking is extremely popular with brands increasingly engaging consumers on social media.
Latin America’s income divide will persist despite social schemes to address this problem. Income inequality will affect digital penetration among poorer consumers. Concerns surrounding online security also will be a key deterrent for digital growth, especially among first-time internet users.
Brazil will post robust digital commerce growth due to rising demand for competitively-priced products. Colombia is making progress in enhancing digital connectivity while Argentina will record the biggest jump in the Digital Connectivity Index rank among regional peers over the forecast period.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.