The Latin America, Middle East and Africa Consumer IoT Market is expected to witness market growth of 18.6% CAGR during the forecast period (2021-2027).
The introduction of a 5G network to power IoT consumer electronics has gained popularity, allied sales is expected to maximize in the upcoming years. The latest cellular network technology is expected to provide speed and low latency to the consumer's market.
In the automotive industry, applications like connected car systems and in-car infotainment systems harness the potential of IoT capabilities. The key automotive OEMs have been entering into a partnership with component and solution vendors to create a purpose-built portfolio. With the help of this, they aimed to improve the customer experience.
With the rising demand for smart and advanced products across various nations of the region, the demand for consumer IoT is subsequently increasing. Additionally, the drastic rise in investment in the development and adoption of smart technologies and devices within the healthcare industry of the region is expected to create lucrative opportunities for the major market players.
However, the high cost attached to the connected devices with the growing number of security concerns is expected to act as barriers to the growth of the regional consumer IoT market during the forecast period. Thus, regional players are aiming to address these challenges by launching advanced connected devices. Therefore, these factors are likely to boost the growth of the regional consumer IoT market during the forecasting period.
The Brazil market dominated the LAMEA Consumer IoT Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $3,884.3 million by 2027. The Argentina market is poised to grow at a CAGR of 19.2% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 18.3% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Software, and Services. Based on connectivity, the market is segmented into Wired and Wireless. Based on Vertical, the market is segmented into Home Automation, Automotive, Consumer Electronics, Healthcare, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Schneider Electric SE, General Electric (GE) Co., Cisco Systems, Inc., NXP Semiconductors N.V., Texas Instruments, Inc., Intel Corporation, Qualcomm, Inc., and Honeywell International, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Hardware
- Processors
- Network Infrastructure
- Sensors
- Others
- Software
- Services
By Connectivity
- Wired
- Wireless
By Vertical
- Home Automation
- Automotive
- Consumer Electronics
- Healthcare
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Microsoft Corporation
- IBM Corporation
- Schneider Electric SE
- General Electric (GE) Co.
- Cisco Systems, Inc.
- NXP Semiconductors N.V.
- Texas Instruments, Inc.
- Intel Corporation
- Qualcomm, Inc.
- Honeywell International, Inc.
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Companies Mentioned
- Microsoft Corporation
- IBM Corporation
- Schneider Electric SE
- General Electric (GE) Co.
- Cisco Systems, Inc.
- NXP Semiconductors N.V.
- Texas Instruments, Inc.
- Intel Corporation
- Qualcomm, Inc.
- Honeywell International, Inc.
Methodology
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