Latin America IoT Telecom Operators, 2020

Benchmarking Future Growth Potential

The Internet of Things (IoT) is already a significant market in Latin America, although still at a growth stage. The region boasted an estimated 397 million IoT devices in 2019, including all business-to-company and business-to-business applications and excluding personal devices such as smartphones, PCs, and tablets. That number is expected to reach 840 million in 2024, a compound annual growth rate of 16.2%. Brazil, Mexico, and Colombia, in that order, are the leaders in IoT adoption.

The increasing availability of coverage and different connectivity types (e.g., narrow-band IoT, low-power, and wide-area) across many countries present a wealth of possibilities for IoT systems and applications. Opportunity is especially ripe for agribusiness, mining, and oil & gas, which are important Latin American sectors that previously lacked affordable and reliable mobile coverage.

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