Latin America held 8% of the market in 2015, with an estimated value of USD 0.477 billion and is projected to reach USD 2.264 billion by 2020, at a CAGR of 36.54%. Mexico held a lion share of 34.82%. Brazil shall witness the fastest CAGR of 38.33% over the forecast period.
Latin America has been one of the most successful developing regions, but the expansion of technology is not looking as bright for the growth of IoT. In 2015, Latin America had 0.116 billion of IoT installed base and is projected to reach 0.501 billion by 2020, at a CAGR of 33.99%.
Brazil is the fifth largest country in the world in terms of size and population. It is the seventh largest economy by nominal GDP and by purchasing power parity in the world. The country has the third largest manufacturing sector in the Americas, accounting for more than 28% of the GDP and is into a wide range of industries ranging from aircraft and automobiles to computers and consumer durables.
IoT solutions in Latin America, specifically Mexico, Brazil, and Argentina, have grown from servicing the supply chain process, to adding visibility to healthcare, government offices and hospitality industries. The rapidly growing implementation of Wi-Fi, RFID, Bluetooth and sensors have brought on the IoT revolution, which is believed to be the most transformative technology for the next decade by 99% of respondents.
The top benefits of adopting IoT solution by companies in Latin America includes:
- Loss prevention (54%)
- Improved customer service (50.55%)
- Improved delivery process (48.55%)
The market for Latin America IoT security is segmented by type of security into network, endpoint, application, cloud etc.; by solutions into IAM, network security forensics, IPS, DLP, UTM, SVM etc.; and by applications into home automation, wearable, MPM, PIM, SCO, CIS etc. The major verticals adding value to the market are BFSI, retail, manufacturing, government, utilities, healthcare etc. The market for Latin America IoT security is segmented regionally into Brazil, Argentina, Mexico, and others.
Key Market Players
Prominent players in the market include:
- Symantec Corporation
- IBM Corporation
- Fire Eye Inc.
- Intel Corporation
- Infineon Technologies
- Cisco Systems Inc.
- Oracle Corporation
- Market definition for the Latin America IoT security market along with identification of key drivers and restraints to the market.
- Market analysis of the Latin America IoT security market, with country-specific assessments.
- Identification of factors instrumental in changing the market scenarios and in offering prospective opportunities.
- Identification of key companies, which can influence the market on regional scales.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
- Identification and analysis of the macro and micro factors that affect the Latin America IoT security market on a regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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1.1 Key Findings of the Study
1.2 Research Methodology
2. Executive Summary
3. Market Overview
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness - Porter's Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the Industry
3.4 Industry Policies
4. Market Dynamics
5. Technology Snapshot
5.1 Technology Overview
5.2 Ongoing Developments
6. Latin America IoT Security Market Segmentation (Size, Trends and Forecasts)
6.1 By Type of Security
6.1.1 Network Security
6.1.2 Endpoint Security
6.1.3 Application Security
6.1.4 Cloud Security
6.2 By Solutions
6.2.1 Identity Access Management (IAM)
6.2.2 Intrusion Prevention System (IPS)
6.2.3 Data Loss Protection (DLP)
6.2.4 Unified Threat Management (UTM)
6.2.5 Security & Vulnerability Management (SVM)
6.2.6 Network Security Forensics (NSF)
6.3 By Applications
6.3.1 Home Automation
6.3.3 Manufacturing Process Management
6.3.4 Patient Information Management
6.3.5 Supply Chain Operation
6.3.6 Customer Information Security
6.4 By Verticals
6.5 By Geography
7. Vendor Market Share Analysis
8. Competitive Intelligence - Company Profiles (Overview, Products & Services, Strategies, Financials and Recent Developments)
8.1 Symantec Corporation
8.2 IBM Corporation
8.3 FireEye Inc.
8.4 Intel Corporation
8.5 Infineon Technologies
8.6 Trend Micro Inc.
8.7 Sophos Group PLC
8.8 ARM Holdings PLC
8.9 Wurldtech Security Technologies Inc.
8.10 Gemalto NV
9. Investment Scenario
9.1 Investment Outlook
9.2 Recent Mergers and Acquisitions
10. Future of Latin America IoT Security Market