South America IoT Engineering Services Market by Service (Product Engineering, Cloud Engineering, Experience Engineering, Security Engineering & Others), By End User (BFSI, Automotive, Aerospace & Defense, Healthcare, Transportation & Logistics, IT & Telecom, Industrial Manufacturing, Others), By Country, Competition, Forecast and Opportunities, 2018-2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSouth America IoT Engineering Services Market by Service (Product Engineering, Cloud Engineering, Experience Engineering, Security Engineering & Others), By End User (BFSI, Automotive, Aerospace & Defense, Healthcare, Transportation & Logistics, IT & Telecom, Industrial Manufacturing, Others), By Country, Competition, Forecast and Opportunities, 2018-2028F
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 2.46 Billion |
| CAGR (2023-2028) | 23.51% |
| Fastest Growing Segment | Cloud Engineering |
| Largest Market | Brazil |
Market Overview
Key Market Drivers
Industry 4.0 and Smart Manufacturing Initiatives
AgTech Revolution in Agriculture
Healthcare Transformation & Telemedicine
Urbanization and Smart City Initiatives
Key Market Challenges
Infrastructure and Connectivity Limitations
Data Security and Privacy Concerns
Key Market Trends
Expansion of IoT in Agriculture and Agribusiness
Digital Transformation in Healthcare and Telemedicine
Sustainable Smart Cities
Segmental Insights
Service Insights
End User
Based on End User, the healthcare emerged as the dominant segment in the South America IoT (Internet of Things) engineering services market, and it is poised to maintain its leadership position throughout the forecast period. This dominance is underpinned by the healthcare industry's rapid adoption of IoT technology to revolutionize patient care, streamline operations, and improve overall healthcare outcomes. IoT engineering service providers have played a pivotal role in facilitating the development and implementation of IoT solutions tailored to the unique needs of healthcare providers in South America. These solutions encompass remote patient monitoring, smart medical devices, healthcare wearables, and data-driven healthcare analytics. The ability to collect and analyse real-time patient data has empowered healthcare professionals to make more informed decisions, enhance treatment protocols, and ensure timely interventions. As the healthcare sector in South America continues to prioritize the integration of IoT for better patient care and operational efficiency, it is expected to remain at the forefront of IoT engineering services demand, driving innovation and advancements in the healthcare landscape.
Regional Insights
Recent Developments
- In March 2023, Capgemini, a renowned global firm specializing inconsulting, technology, and outsourcing services, revealed its intent toacquire Everis, a Spanish multinational IT and consulting corporation. Thisstrategic acquisition is poised to enhance Capgemini's IoT capabilitiessignificantly, positioning the company to address the increasing need for IoTsolutions within the Latin American market. With this move, Capgemini aims tostrengthen its presence in the IoT sector and effectively meet the risingdemand for innovative IoT solutions across various industries in Latin America,solidifying its commitment to providing cutting-edge technology services in theregion.
- In April 2023, Infosys, a prominent global IT company, revealed itsintention to acquire Innominds, an Indian firm specializing in IoT andanalytics solutions. This strategic acquisition is set to bolster Infosys'expertise and capabilities in the realms of IoT and analytics, furtherempowering the company to cater to the growing demand for cutting-edge IoTsolutions. Through this move, Infosys aims to enhance its capacity to assistcustomers in the development and deployment of IoT solutions, reinforcing itscommitment to delivering innovative and data-driven technology services.
- In May 2023, ThoughtWorks, a global consultancy specializing in aidingorganizations with software design, development, and delivery, disclosed itsintent to acquire Neoway, a Brazilian company renowned for its IoT and datascience solutions. This strategic acquisition is poised to significantlyaugment ThoughtWorks' competencies in the realms of IoT and data science,further enabling the company to meet the growing demand for cutting-edge IoTsolutions. Through this move, ThoughtWorks aims to bolster its ability toassist clients in the creation and implementation of IoT solutions,strengthening its commitment to delivering innovative technology services witha particular focus on IoT and data science advancements.
Key Market Players
- IBM Corporation
- AccentureLLP
- DeloitteLLP
- CiscoSystem, Inc.
- AT&T,Inc.
- TataConsultancy Services (TCS) Limited
- CognizantTechnology Solutions Corporation
- InfosysLimited
- WiproLimited
- SiemensAG
| By Service | By End User | By Country |
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