Brazil Internet of Things Market to Grow at CAGR of 18.99% Through 2026
Digital Transformation and
increased disposable income are expected to drive the growth of Brazil internet
of things market
According
to TechSci Research report, “Brazil
Internet of Things Market By Platform (Device Management, Network
Management and Application Management), By Component (Hardware, Services and
Software), By Application (Consumer Electronics, Smart Mobility &
Transportation, Building & Home Automation, Connected Logistics, Smart
Retail, and Others), By Region, Competition, Forecast & Opportunities, 2026” Brazil internet of
things market stood at USD 5.67 Billion in 2020 and is expected to grow at CAGR
of 18.99% in the next five years to reach USD 16.43 Billion by 2026. Growing technological advancements coupled with
rising internet penetration is boosting demand for connected devices in Brazil.
In 2020, internet penetration in Brazil stood at around 67% and this is projected
to grow further in the coming years. Number of smartphone users is expected to
increase to more than 160 million by 2025. The rapid uptake of connected
devices, especially smartphones and tablets coupled with abundant choices is
driving the adoption of Internet of Things in Brazil.
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Brazil internet of things market is segmented based on platform,
component, application, company, and regional distribution. In terms of
component, hardware sector is anticipated to dominant the market through 2026 owing
to increase in consumer interest towards smart devices like smart speakers and
smart home appliances, the rate of adoption of connected devices and deployment
of IoT platform for both personal and commercial use have been rising
considerably.
In terms of application, market can be segregated into consumer
electronics, smart mobility & transportation, building & home
automation, connected logistics, smart retail, and others. Among all, consumer
electronics dominated the market in 2019 due to surge in demand for
personalized and connected devices and technological advancements in the
application segment.
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SAP Brasil, Intel Corporation
Brasil, General Electric Corporation Brasil Ltda., IBM Corp Brasil, Amazon Web
Services Brasil, Robert Bosch Gmbh, Microsoft Corporation Brasil, Oracle do
Brasil Sistemas Ltda, Hewlett-Packard Brasil Ltda, among others are some of the leading players operating in Brazil internet of
things market. The companies operating in the market are using organic
strategies such as product launches, mergers, and collaborations to boost their
share.
“South Eastern is emerging as the dominating
region in Brazil Internet of Things market, owing to increasing population,
rising internet penetration, growing economy, expanding smartphone user base,
expanding several IT based and smart manufacturing facilities, etc. Growing technological
advancements are further anticipated to drive demand for connected devices,
along with the supporting services. Rising number of government initiatives in
this region towards development of smart infrastructure is further anticipated
to fuel demand for Internet of Things.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Brazil Internet of Things Market By Platform
(Device Management, Network Management and Application Management), By
Component (Hardware, Services and Software), By Application (Consumer
Electronics, Smart Mobility & Transportation, Building & Home
Automation, Connected Logistics, Smart Retail, and Others), By Region,
Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of Brazil internet
of things market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Brazil internet of things market.
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