One of the
predominantly developing regions of the world, South America is rapidly
embracing technological advancements. Governments of regional countries as well
as private companies are increasing their investments in the development of
information technology (IT) infrastructure, with the aim to enhance the
communication network. The reach of the radio-frequency identification (RFID),
near-field communication (NFC), artificial intelligence, robotics, and
low-power wide-area network (LPWAN) technologies is expanding in the continent,
which is resulting in the deployment of internet of things (IoT) solutions.
Therefore, with improvements in IT infrastructure, the South American IoT market, which valued $3,258.3 million in 2017, is expected to mushroom to $19,407.1 million by 2023, at a 35.0% CAGR during the forecast period (2018–2023). The IoT ecosystem primarily consists of sensor-based devices that are able to transmit data across the internet, without human intervention. Because of being connected, many of these devices can also be controlled remotely, for instance via a smartphone app.
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Being the most
developed country in the region, Brazil is projected to be South American
IoT market in the coming years. This would be a result of the increasing
efforts of its government to implement the technology and a growth in its
agriculture sector. For instance, the Intelligent Brazil program, implemented
by its government, is aimed at providing internet access and developing IoT,
artificial intelligence, and smart cities. Other reasons for the surging
deployment of IoT in Brazil would be the increasing awareness of people about
the concept, rising disposable income, and accelerating rate of urbanization.