South America IoT Market to See Wonderful Rise during 2022-2028 with High CAGR Growth

The South America IoT market is expected to grow from US$ 19.70 billion in 2022 to US$ 73.33 billion by 2028. It is estimated to grow at a CAGR of 24.5% from 2022 to 2028.

This research report provides insights into the "South America IoT Market." This report summarizes the results of the assessment carried out by Business Market Insights in the field of the Benefits Management Platform for the global perspective. The report provides an analysis of the Benefits South America IoT Market by deployment, application, and geography.

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Key players profiles in the South America IoT market report are Cisco Systems, Inc.; Google LLC; Hewlett Packard Enterprise Development LP (HPE); IBM Corporation; Microsoft Corporation; Oracle Corporation; QUALCOMM INCORPORATED; SAP SE; SAS Institute Inc.; and VMware, Inc., among others.
• May-2022, Google Cloud and SAP SE have announced the development of their partnership, revealing new Google Workspace interfaces with SAP's flagship cloud ERP, SAP S/4HANA Cloud.

The growing transition from traditional to digital ecosystems across industries is creating a huge demand for connected ecosystems, resulting in the growing demand for IoT-based solutions. Investments in IoT start-ups and supporting market ecosystems are also bolstering the research and development related to IoT. Moreover, the continuous improvements in cloud infrastructure and reduced data service costs are fueling the digitalization of industrial processes. Furthermore, the increasing number of service providers, such as system integrators, managed service providers, and IoT distributors, plays a key role in installing, managing, and monitoring IoT solutions. The South America IoT market ecosystem involves various intermediaries at every stage of the ecosystem. In addition, system integrators integrate all components into a whole and deliver the integrated systems to retailers. At the same time, managed service providers offer numerous services such as device management, data management, security management, and network management to end users. Thus, an increase in digitalization in different sectors and a rise in importance of service providers are expected to be key trends in the South America IoT market.

On the contrary, data security and interoperability issues hurdles the growth of South America IoT market.

Based on offering, the South America IoT market is segmented into hardware, software, and services. The hardware segment held 42.8% share of the South America IoT market in 2022, amassing US$ 8.43 billion. It is projected to garner US$ 30.06 billion by 2028 to expand at 23.6% CAGR during 2022-2028. The hardware segment is further subsegmented into processors, connectivity modules, sensors, memory devices, and others.

Based on end user, the South America IoT market is segmented into industrial, commercial, and residential. The industrial segment held 46.5% share of the South America IoT market in 2022, amassing US$ 9.16 billion. It is projected to garner US$ 33.69 billion by 2028 to expand at 24.2% CAGR during 2022-2028.

Based on country, the South America IoT market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 77.1% share of the South America IoT market in 2022. It was assessed at US$ 15.20 million in 2022 and is likely to hit US$ 57.61 million by 2028, exhibiting a CAGR of 24.9% during the forecast period.

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The report provides the current market size for the South America IoT Market, defines trends, and presents growth forecasts for nine years from 2021 to 2028. 2022 is considered as the base year, and 2021 to 2028 is the forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Benefits Management Platform for all the regions globally.

This research report on the "South America IoT Market" provides a holistic view of the global market size across major regions. The report further elucidates the key driving factors, restraints, growth opportunities, and future trends about the market growth. The market is segmented into deployment, application, and geography.
Market Drivers
Market Restraints
Future Trends
Market Opportunities

South America IoT Market Research Report Scenario includes:
The report provides qualitative and quantitative trends of the global South America IoT Market.
The report provides qualitative and quantitative trends of the global South America IoT Market segmented by deployment, component, solution, application, and geography.

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The report starts with the key takeaways, highlighting the key trends and outlook of the global South America IoT Market.
Chapter 3 provides the research methodology of the study.
Chapter 4 provides a brief overview of the Benefits South America IoT Market landscape. It further provides the segmentation of the market with PEST analysis on global scenarios along with ecosystem analysis and expert opinions.
Chapter 5 highlights the Benefits South America IoT Market trends and outlook and the prevailing factors that are driving the market, as well as are deterrents to market growth, along with their impact analysis.
Chapter 6 discusses the market revenue and forecast, in the global South America IoT Market.
Chapter 7, 8, and 9 discuss the market segmented by deployment, application, and geography across the regions.
Chapter 10 provides the impact of COVID 19 across the regions and respective countries.
Chapter 11 provides the industry landscape and highlights the major market events, as well as major market vendors in the ecosystem.
Chapter 12 provides the detailed profiles of the key companies operating within the Benefits South America IoT Market. The companies have been profiled based on their key facts, business descriptions, financial overview, SWOT analysis, and key developments.
Chapter 13, i.e., the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

The report also covers a detailed chapter of the analysis on COVID-19 impact on this market at the global and regional level in our final reports.
This research provides detailed information regarding the major factors influencing the growth of the South America IoT Market at the Regional Level (drivers, restraints, opportunities, and challenges), forecast of the market size, in terms of value, market share by region and segment; regional market positions; segment and country opportunities for growth; New product developments, strengths, and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats from current competition and prospects; Key company profiles, SWOT, product portfolio and growth strategies.

Primary Research:
"Business Market Insights" conducts hundreds of primary interviews a year with industry participants and commentators to validate its data and analysis. A typical research interview fulfills the following functions:
Provides First-Hand Information on the Market Size, Market Trends, Growth Trends, Competitive Landscape, and Future Outlook
Validates and Strengthens Secondary Research Findings
Further Develops the Analysis Team's Expertise and Market Understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
Industry Participants: VPs, Business Development Managers, Market Intelligence Managers and National Sales Managers
Outside Experts: Valuation Experts, Research Analysts and Key Opinion Leaders Specializing in the Industry

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

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