This paper analyzes the factors that are influencing the stagnation of innovation indicators in the Latin American region. To do this, an analysis is carried out to explore the existence of different groups of countries characterized by different levels of technological capacity and innovation. The elements to be analyzed during the study are obtained through the indicators evaluated in the Global Innovation Index, its 2020 edition, and the Analytic Hierarchy Process. The results show the existence of three groups of countries characterized by a different capacity for technological innovation, both in terms of technology policy and generation of technology and innovation, and technological preparation of society.