South America IoT Engineering Services Market to Grow at 23% CAGR by 2023

According to TechSci Research report, South America IoT Engineering Services Market By Service, By End User Sector, By Country, Competition Forecast & Opportunities, 2013 – 2023, IoT engineering services market in South America is forecast to exhibit a CAGR of 23.5% during 2018 – 2023. Industrie 4.0 is driving the adoption of Digital Twin technology in manufacturing, transportation & logistics, utilities, healthcare, aerospace & defense, and other sectors, which is driving the demand for IoT engineering services. Moreover, growth in the market is expected to be driven by increasing number of government initiatives to promote smart technology, rising demand for smart & connected things, and growing penetration of SMACT technologies across the region.

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Share of healthcare sector in South America IoT engineering services market is expected to grow at a robust pace over the coming years, backed by growing focus on healthcare quality quotient, which is leading to growth in reformed, intelligent, connected and mobile healthcare services. With growing business-technology interdependencies, business vulnerabilities such as data privacy, theft and loss concerns are also increasing, thus security engineering services segment is anticipated to register the fastest growth rate during the forecast period.

“Integration of blockchain and cryptographic processes across IoT security services offers the centralized management of network and associated data, thereby reducing the burgeoning business vulnerability and security concerns as well as fueling the IoT engineering services market. This, in addition to rising smart technology penetration, rapidly proliferating commercialization, ongoing digital revolution and evolving business infrastructure are likely to boost the demand for IoT engineering services across the South American region during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

South America IoT Engineering Services Market By Service, By End User Sector, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the IoT engineering services market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities existing in the market.

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