Access South America Massive IoT Industry Overview which includes South America country analysis of (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America), market split by Offering, Connectivity, Application, Organization Size, Industry Vertical

In 2020, Internet of Things (IoT) is expected to generate over 18 billion U.S. dollars in revenue in Latin America. The figure is estimated to grow rapidly and reach 47 billion by 2025. The number of IoT connections in the region is also projected to increase from 526 million U.S. dollars in 2018 to 1.2 billion in 2025.

The South American Internet of Things (IoT) Marketsize was valued at USD 544.38 USD Billion in 2023 and is projected to reach USD 2495.74 USD Billion by 2032, exhibiting a CAGR of 24.3 % during the forecast period. The Internet of Things (IoT) is a digital connection of objects, devices, people, animals, and other entities through the use of the Internet. This varies from the basic simple electrical appliances in our homes to the most complex tools required in technologies and industries. The Main IoT forms are consumer IoT (smart homes and wearables), industrial IoT (industrial assets like machinery, and smart factories), and infrastructural IoT (smart cities and energy networks). The main concepts are dynamic views, ML capabilities, and the possibility to access it from a distance. Use ranges from; health care, agriculture, industries, and cities. The description of IoT indicators and their markets in South America shows the further development of this technology, necessitated by advanced smart city projects and agriculture, as well as the growth of its usage in manufacturing firms. Key drivers for this market are: Rising Adoption of Innovative Technologies to Make Smart Evacuation Procedures Smooth to Boost Market Growth. Potential restraints include: Poor Telecommunication Infrastructure and Heavy Regulations to Hamper the Market Progress. Notable trends are: Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars.

Latin America IoT Security Market Segmented by Type of Security (Network Security, Endpoint Security and More), Solutions (Identity and Access Management (IAM), Intrusion Prevention System (IPS) and More), End-User (Healthcare, Manufacturing and More), by Deployment Model and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Latin America's IoT Connectivity Management Platform market will be USD 372.56 million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031. The market is foreseen to reach USD 1221.1 million by 2031 due to rising personal disposable income.

In 2019, the forecasted number of Internet of Things (IoT) devices in Latin America added up to approximately 407 million. By 2023, it was projected that this number would increase to over 995 million. In 2025, the Latin American IoT market is expected to be worth 47.2 billion U.S. dollars.

In 2022, the total market value of consumer IoT in Latin America was about 5.2 billion U.S. dollars. Wireless was the largest market type that year, amounting to around 3.2 billion U.S. dollars and showing signs of linear growth over the coming years.

More information on the global consumer IoT market can be found here.

Latin America's Cellular IoT Modules market will be USD 207.63 million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 25.4% from 2024 to 2031. Due to expanding infrastructure investments and the adoption of smart technology, the market is foreseen to reach USD 1109.6 million by 2031.

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Industrial Internet Of Things Market Size 2025-2029

The Industrial Internet of Things (IoT) market size is forecast to increase by USD 195.8 billion at a CAGR of 14.8% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing adoption of industrial automation to enhance productivity and efficiency in various industries. This trend is further fueled by the evolution of global device managers, enabling seamless integration and management of IoT devices. However, despite these opportunities, there are challenges that require careful consideration. One major challenge is the lack of awareness and efficient management of IoT initiatives and investments. Companies must prioritize strategies to address this issue, such as implementing IoT management platforms and educating stakeholders on the benefits of IoT.
Effective navigation of these challenges will be crucial for businesses seeking to capitalize on the vast potential of the Industrial IoT market. By focusing on strategic planning and operational excellence, companies can successfully leverage IoT technologies to drive innovation, improve operational efficiency, and gain a competitive edge.

What will be the Size of the Industrial Internet Of Things (IoT) Market during the forecast period?

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The market encompasses the integration of electronic devices, sensors, and networking technology to optimize industrial processes and improve productivity. This market is experiencing significant growth due to the increasing affordability of sensors and semiconductors, enabling more devices to connect and exchange data in real-time. Big data analysis, machine learning, and AI are key drivers, allowing for predictive maintenance, workflow automation, and M2M communication. Technology advancements, such as power efficiency, worker safety, and standardization of IPv6, are also fueling market expansion. The automotive sector is a major adopter, with applications ranging from fleet management to autonomous vehicles. Blockchain and wireless technology are emerging trends, offering enhanced security and connectivity.
Cloud computing platforms, such as Microsoft Azure and Amazon Web Services, are essential for managing the vast amounts of data generated by IoT devices. Market incumbents are focusing on operational competence and productivity improvement, ensuring their solutions remain competitive in this rapidly evolving landscape. Overall, the Industrial IoT market is poised for continued growth, transforming industries and reshaping the digital-human workforce.

How is this Industrial Internet Of Things (IoT) Industry segmented?

The industrial internet of things (IoT) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Manufacturing
  Automotive and transportation
  Energy and utilities
  Healthcare
  Others


Component

  Hardware
  Software
  Services
  Platforms


Connectivity

  Wired
  Wireless


Deployment

  On-cloud
  On-premises


Organization Size

  Large Enterprises
  Small and Medium Enterprises (SMEs)


Geography

  APAC

    Australia
    China
    India
    Japan
    South Korea


  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  South America

    Brazil


  Middle East and Africa

    UAE


  Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth as manufacturers worldwide adopt this technology to enhance productivity and gain a competitive edge. Machines and electronic devices are connected to the Internet through software, enabling real-time data collection and analysis. This data is used for predictive maintenance, performance optimization, and worker safety. However, the IoT market faces challenges such as the need for increased investments, redesigning business models, security concerns, and interoperability issues. Favorable government policies and partnerships among industry players are addressing these challenges, leading to advancements in areas like M2M communication, AI, and edge computing. Key technologies include AWS IoT TwinMaker, AWS IoT SiteWise, Google, Ubisense, and Siemens Xcelerator.

Market dynamics are driven by the standardization of IPv6, machine learning, and Big Data. IoT applications span various industries, including machinery, food and beverage, chemicals and materials, and electrical and electronics. Market growth is further fueled by the adoption of cloud-based services, wireless technologies, and affordable processors. IoT is also transforming sectors like transportation, with applications in smart cities, transit managem

In 2018, professional services accounted for 38 percent of Internet of Things (IoT) revenue in Latin America. The share is expected to fall to 36 percent by 2025. However, the entire IoT industry is projected to generate a revenue worth over 47 billion U.S. dollars by 2025, nearly quadrupling its 2018 result.

The Latin American IoT security market is experiencing robust growth, driven by the increasing adoption of Internet of Things (IoT) devices across various sectors, including healthcare, manufacturing, and BFSI. The region's expanding digital infrastructure and the rising need to protect sensitive data from cyber threats are key catalysts for this expansion. A compound annual growth rate (CAGR) of 25.50% from 2019 to 2024 suggests a significant market expansion. While precise figures for 2025 are unavailable, projecting based on the CAGR, a reasonable estimation of the market size in 2025 would be in the range of $500 million to $700 million (USD), considering the substantial growth observed in previous years and the continued adoption of IoT technologies. This growth is being propelled by the increasing demand for robust security solutions across various segments, including network security, endpoint security, and cloud security, with Identity Access Management (IAM) and Intrusion Prevention Systems (IPS) taking the lead in terms of solution adoption. The manufacturing and healthcare sectors are showing particularly strong demand for IoT security solutions due to the sensitive nature of the data they handle. However, several restraints pose challenges to market growth. These include the high initial investment costs associated with implementing comprehensive security measures, a lack of awareness regarding IoT security risks among smaller businesses and consumers, and the complexity of managing security across diverse IoT devices and platforms. Overcoming these hurdles requires collaboration between governments, industry players, and educational institutions to foster greater cybersecurity awareness and improve the affordability and accessibility of effective security solutions. The market is segmented by device type (network security, endpoint security, etc.), solution type (IAM, IPS, etc.), application (home automation, manufacturing, etc.), end-user (healthcare, BFSI, etc.), and geography (Brazil, Argentina, Mexico, etc.). Brazil, with its large and growing economy, is expected to continue dominating the regional market, followed by Mexico and Argentina. However, other countries in the region are also exhibiting significant potential for future growth. Recent developments include: June 2022 - Telefónica Tech announced its partnership with Netskope to deliver cloud security solutions through the commercialization of Netskope's portfolio of products and services in the regions, including Latin America. The partnership would focus on supporting public sector organizations and large and mid-sized businesses in their digital transformation journeys., March 2022, Amazon Web Services (AWS) has announced collaborations with two Latin American operators, and Amazon Web Services (AWS) has announced collaborations with two Latin American operators, reflecting a global trend in IoT device collaboration.. Key drivers for this market are: Increasing Number of Data Breaches, Emergence of Smart Cities. Potential restraints include: Increasing Number of Data Breaches, Emergence of Smart Cities. Notable trends are: Solution Segment to Record a Larger Market Share.

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Consumer IoT Market Size 2024-2028

The consumer IoT market size is forecast to increase by USD 127.18 billion at a CAGR of 13.14% between 2023 and 2028.

The market is experiencing significant growth due to the increasing popularity of connectivity solutions for home automation and monitoring applications. Energy management is another key driver, as consumers seek to reduce energy usage and save costs. Wearable technology, particularly in the areas of health consciousness and chronic disease management, is also fueling market expansion.However, concerns over data security and privacy are major challenges, necessitating the development of advanced security solutions. Semiconductor companies are addressing these challenges through the production of chipsets designed for IoT applications. Geographic presence and strategic collaborations are also important factors, with companies expanding their offerings in home automation, autonomous driving, mobility, and IoT development kits. The market is further influenced by the integration of IoT technology into various sectors, including home entertainment, toys, and networking. As digitalization continues to transform industries, the market is poised for continued growth.

What will be the Consumer IoT Market Size During the Forecast Period?

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The Internet of Things (IoT) has emerged as a game-changer in various industries, and the consumer sector is no exception. The integration of technologically advanced devices into everyday life has become increasingly popular, with home appliances leading the charge. This trend is driven by the availability of microcontrollers and wireless technologies, enabling seamless connectivity between devices and computers. The market encompasses a wide range of smart devices, from fitness trackers and smart thermostats to connected doorbells and security systems. These interconnected systems offer numerous benefits, including convenience, improved lifestyle, and data management capabilities.



However, they also present unique challenges, such as cyberattacks and data breaches. Internet users in both developed and developing economies are embracing the IoT revolution, with a growing number of households adopting smart devices. Fitness enthusiasts, for instance, can monitor their health metrics and track workouts using wearable devices. Meanwhile, homeowners can optimize energy usage with smart thermostats and enhance security with connected doorbells. As the number of connected devices grows, so does the amount of consumer data being generated. Data management software and predictive analytics play a crucial role in ensuring the secure and efficient handling of this data.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Wireless
  Wired


End-user

  Home automation
  Consumer electronics
  Wearable devices
  Healthcare


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Type Insights

The wireless segment is estimated to witness significant growth during the forecast period.

In the market, suppliers of technology and components for wearable devices and biosensors hold a moderate level of influence. While standard components like sensors, chips, and connectivity modules are sourced from various suppliers, those offering specialized or proprietary technology hold more power due to their unique offerings. These unique offerings may include advanced algorithms for analyzing heart rate, sleep patterns, blood sugar levels, and other vital variables. In the realm of patient care, remote monitoring, and observation, IoT devices such as smartwatches and wireless wearable biosensors play a significant role.

Furthermore, as healthcare professionals increasingly rely on these devices for treatment and observation, the demand for advanced and accurate sensors and software solutions is on the rise. CE marking and other regulatory requirements ensure the quality and safety of these devices.

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The wireless segment was valued at USD 63.52 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 33% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the Internet of Things (I

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IoT Platform Market Size 2024-2028

The IoT platform market size is forecast to increase by USD 20.72 billion, at a CAGR of 26.06% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing adoption of IoT devices in various industries. Large enterprises and Small & Medium Enterprises (SMEs) are leveraging IoT platforms for enterprise applications, consumer products, and industrial automation. IoT integration platforms enable seamless connectivity between different devices and systems, while IoT analytics platforms provide valuable insights from the vast amount of data generated by these devices. Cloud-based and on-premises IoT platforms cater to diverse business needs. The benefits of IoT, such as real-time monitoring, predictive maintenance, and automation, are driving demand for these platforms. However, challenges like privacy and security concerns, interoperability issues, and complex integrations persist.

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The market is witnessing significant growth, driven by the integration of advanced technologies and the increasing demand for efficient data management and analysis. In this context, several components play a crucial role in the IoT ecosystem, including middleware, processing units, memory units, connectivity modules, commercial sensors, actuators, and IoT devices. IoT platforms serve as the backbone of the IoT ecosystem, enabling seamless communication between various components. Middleware acts as a bridge between different applications and devices, ensuring interoperability and data flow. Processing units and memory units facilitate data processing and storage at the edge, reducing latency and improving response times.

Connectivity modules enable IoT devices to communicate with each other and the cloud, ensuring reliable and secure data transfer. Commercial sensors and actuators are essential components of IoT systems, providing real-time data and enabling remote control of devices. IoT architecture can be broadly classified into IoT connectivity platforms and IoT analytics platforms. IoT connectivity platforms focus on managing and securing device connectivity, while IoT analytics platforms process and analyze data generated by IoT devices. Advancements in technologies such as 5G networks, edge computing, big data, AI, and Industry 4.0 are transforming the IoT landscape. 5G networks offer faster data transfer rates and lower latency, enabling real-time data processing and analysis.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Manufacturing
  Retail
  Healthcare
  ICT
  Others


Deployment

  Public cloud
  Private cloud
  Hybrid


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  Middle East and Africa



  South America

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period. In the realm of modern business operations, the Internet of Things (IoT) is revolutionizing various industries, including Manufacturing, Smart Infrastructure, Connected Healthcare, Smart Retail, and Smart Transportation. IoT technology enables machines and devices to connect to the Internet, generating valuable data that fuels insights and drives business growth. In the Manufacturing sector, location-based sensors are increasingly used to optimize inventory management. IoT solutions provide real-time data, allowing manufacturers to enhance productivity, reduce downtime, and gain a competitive edge. However, challenges persist, such as substantial investment requirements, the need for business model transformations, security concerns, and interoperability issues. Government policies and collaborations among key players in the IoT ecosystem can help address these challenges. For instance, in the US, initiatives like the National Institute of Standards and Technology (NIST) IoT Innovation Lab aim to promote IoT research, standardization, and security.

Furthermore, partnerships between tech giants like Microsoft and Amazon Web Services (AWS) are driving innovation and expertise in the IoT space. As 5G networks become more prevalent, the potential for IoT applications will expand significantly. The telecommunications industry is expected to play a crucial role in enabling seamless connectivity for IoT devices. By harnessing the power of IoT technology, businesses can unlock new opportunities and create value in an increasingly interconnected world.

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The manufacturing segment was valued at USD 598.40 million in 2018 and showed a gradual increase during the forecast period.

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addressing the development categories and the Hardware thathas been cited on papers on the last 5 years.

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LTE IoT Market Size 2024-2028

The LTE IoT market size is forecast to increase by USD 16.22 billion at a CAGR of 28.8% between 2023 and 2028. The market is experiencing significant growth due to global LTE rollouts and the increasing integration of IoT devices in various industries, particularly in industrial automation and healthcare. Orthogonal Frequency Division Multiplexing (OFDM) technology, the backbone of LTE networks, enables efficient bandwidth utilization for data exchange between IoT sensors and the cloud. However, challenges persist, including the need for reliable connections and addressing connectivity issues and infrastructure limitations. As 5G networks emerge, they are expected to offer even greater bandwidth and lower latency, potentially disrupting the market. In the market, the trend towards smart cities and the Internet of Things is driving demand for LTE connectivity to support the data exchange needs of an increasing number of IoT devices. Companies in this space must stay abreast of these trends and challenges to remain competitive.

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IoT Wireless communication has been a game-changer in various industries, enabling seamless data transmission and revolutionizing the way businesses operate. Among the different generations of mobile technologies, Long-Term Evolution (LTE) has emerged as a key player in the Internet of Things (IoT) market. LTE, a cellular technology, represents the fourth generation of wireless communication, following 1G, 2G, and 3G. Its primary focus is on providing high-speed data transmission and reliable connections, making it an ideal choice for IoT devices. The global LTE rollouts have been instrumental in enabling the widespread adoption of IoT.

Furthermore, LTE's spectrally efficient design and its ability to support a large number of connected devices have made it a preferred choice for various applications, including health monitoring gadgets, home security systems, and commercial security solutions. Data exchange between IoT devices and the cloud is a crucial aspect of IoT applications. LTE's reliable connection ensures that data is transmitted efficiently and in real-time, enabling businesses to make informed decisions based on the data received. LTE networks offer different categories, such as Cat M and NB-IoT, designed specifically for IoT applications. These categories offer lower power consumption and extended battery life, making them suitable for devices that require long-lasting connectivity.

Moreover, orthogonal Frequency Division Multiplexing (OFDM) technology, used in LTE, enables efficient use of the available spectrum. This technology is essential for IoT applications, as it allows for a large number of devices to operate in the same frequency band without interfering with each other. As the world prepares for the next generation of wireless communication, 5G and LTE continue to play a significant role in the IoT market. Its ability to support a large number of connected devices and provide reliable, high-speed data transmission makes it an essential technology for various IoT applications. In conclusion, LTE's role in the IoT market is undeniable.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Technology

  NB-IoT
  LTE-M


Geography

  Europe

    Germany
    UK
    France


  North America

    US


  APAC

    China


  Middle East and Africa



  South America

By Technology Insights

The NB-IoT segment is estimated to witness significant growth during the forecast period.NB-IoT, a low-power wide area network technology, is revolutionizing the Internet of Things (IoT) market by enabling the deployment of cost-effective and energy-efficient IoT devices and services. Built on LTE Cat-M1 technology, NB-IoT is a 3GPP standard that offers longer battery life and reduced deployment costs compared to other LPWAN technologies. This technology significantly enhances user device power consumption, system capacity, and spectral efficiency, particularly in deep coverage areas. NB-IoT is capable of supporting up to 50,000 devices per NB-IoT network cell while minimizing power consumption and reaching locations where traditional cellular technology is unavailable. NB-IoT's applications span across various industries, including smart meter reading, agriculture, logistics, and smart city solutions, among others.

Furthermore, its ability to connect a vast number of devices while conserving energy and resources makes it an ideal choice for IoT deployments. With the ongoing global LTE rollouts, the demand for NB-IoT technology is expected to rise, driven by the need for reliable

The report on South America IoT Security covers a summarized study of several factors supporting market growth, such as market size, market type, major regions, and end-user applications. The report enables customers to recognize key drivers that influence and govern the market.

The South America IoT engineering services market was valued at USD 2.46 Billion in 2022 and grew at a rate of 23.51% during the forecast period.

The Latin American IoT security market is experiencing robust growth, driven by the increasing adoption of Internet of Things (IoT) devices across various sectors. A Compound Annual Growth Rate (CAGR) of 25.50% from 2019 to 2024 indicates a significant expansion, projected to continue through 2033. Key drivers include the rising demand for enhanced data security in sectors like healthcare (patient information management), manufacturing (process management & supply chain optimization), BFSI (financial data protection), and retail (customer information security). The proliferation of smart devices in homes and wearables further fuels market expansion. While precise market sizing for 2025 isn't provided, extrapolating from the given CAGR and considering the substantial growth in IoT adoption, a reasonable estimate places the market value at approximately $350 million USD for 2025. This figure reflects a substantial increase from the 2019 baseline. Growth is segmented across application types (home automation leading the way), end-users (healthcare and manufacturing demonstrating significant demand), security types (network and endpoint security holding dominant shares), and solutions (IAM, IPS, and DLP being prominent). However, challenges like limited cybersecurity awareness, infrastructure limitations in certain regions, and varying levels of digital maturity across Latin American countries represent potential restraints to the market's full potential. Despite these restraints, the market’s future prospects remain bright. Brazil, Argentina, and Mexico are currently leading the market, although growth potential exists across all Latin American nations as digital transformation accelerates. The increasing government initiatives aimed at promoting cybersecurity and digital infrastructure development will further catalyze market growth. Key players, including multinational corporations and regional providers, are actively investing in solutions tailored to the specific needs of the Latin American market, fostering innovation and competition, and contributing to a more secure IoT ecosystem. The continued expansion of 5G networks and the rise of cloud-based security solutions will be instrumental in shaping the market's trajectory in the coming years. The focus will shift towards robust, integrated security solutions capable of addressing the complexities of interconnected devices and data flows across diverse applications and industries. Recent developments include: June 2022 - Telefónica Tech announced its partnership with Netskope to deliver cloud security solutions through the commercialization of Netskope's portfolio of products and services in the regions, including Latin America. The partnership would focus on supporting public sector organizations and large and mid-sized businesses in their digital transformation journeys., March 2022, Amazon Web Services (AWS) has announced collaborations with two Latin American operators, and Amazon Web Services (AWS) has announced collaborations with two Latin American operators, reflecting a global trend in IoT device collaboration.. Key drivers for this market are: Increasing Number of Data Breaches, Emergence of Smart Cities. Potential restraints include: Growing Complexity among Devices, coupled with the Lack of Ubiquitous Legislation. Notable trends are: Solution Segment to Record a Larger Market Share.

Access South America IoT Fleet Management Industry Overview which includes South America country analysis of (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America), market split by Component, Platform, Services, Application, Deployment Model, Cloud Deployment, Fleet, End-User, Conclusion

In 2020, automotive Internet-of-Things (IoT) market is projected to generate 3.5 billion U.S. dollars. By 2023, the value is expected to increase to 6.4 billion. In the same period, the total IoT market in the region is forecasted to grow from 18 to 32 billion U.S. dollars. Between 2018 and 2025, the number of IoT connections in Latin America is projected to grow from 526 million to 1.3 billion.