18.06.2019 Hi-tech, софт, компьютеры

South America IoT Market Trends, Growth Opportunity, Industry Demand and Competitive Landscape

The South American IoT market is projected to reach $19,407.1 million by 2023, according to P&S Intelligence.

Increasing government efforts toward IoT deployment, growing focus on the development of digital networks and smart cities, and rising penetration of the internet, coupled with the high demand for smartphones, are the major factors driving the market growth.

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Insights on market segments

Based on platform, the South American IoT market has been categorized into device management, application management, and network management. Application management platforms are in high demand among South American IoT solution deployers, owing to the increased need for improving application performance and its lifecycle management. Hence, during the forecast period, the market is expected to witness the fastest growth in this category, with 34% CAGR.

Development of digital network and smart cities is a key growth driver for the market

Increasing focus on infrastructural development, better access to communication networks, and standardization of the interoperability of devices in IoT systems is a major factor leading to the growth of the digital network landscape in South American countries, which, in turn is boosting the demand for IoT in all priority fields. Besides, growing focus on the development of smart cities to improve the quality of life and facilitate sustainable development through technology is driving the growth of the South American IoT market. For instance, Ericsson and Qualcomm Technologies Inc. are planning to implement IoT infrastructure in agriculture, smart cities, and vehicle and asset training fields in Brazil during 2018–2022.

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Some of the key players operating in the South American IoT market are Qualcomm Technologies Inc., Intel Corporation, Microsoft Corporation, General Electric Company, Siemens AG, IBM Corporation, Oracle Corporation, Cisco Systems Inc., SAP SE, and T-Systems International GmbH.