Internet of Things - Chile
Chile- The Internet of Things market (IoT) market in Chile is expected to experience significant growth in the coming years.
- According to projections, the revenue in the IoT market is estimated to reach US$2.08bn by 2025.
- Among the various sectors within the IoT market, the automotive industry is expected to dominate with a projected market volume of US$546.22m in the same year.
- This indicates the immense potential for IoT technology in the automotive sector in Chile.
- Furthermore, the IoT market is anticipated to witness a steady annual growth rate (CAGR 2025-2029) of 7.57%.
- This growth is expected to result in a market volume of US$2.79bn by 2029.
- This indicates a positive trajectory for the IoT market in Chile, with sustained expansion and increasing revenue over the forecast period.
- In terms of global comparison, United States is projected to generate the highest revenue in the IoT market, with an estimated revenue of US$379.91bn in 2025.
- This highlights the strong presence and market dominance of the United States in the IoT industry on a global scale.
- However, it is important to note that in Chile has significant potential for growth in the IoT market and is expected to make substantial contributions to the overall revenue generated in the industry.
- The IoT market in Chile holds promising prospects for businesses and investors, and it is crucial for stakeholders to recognize and capitalize on the opportunities presented by this rapidly growing sector.
- With the right strategies and investments, in Chile can position itself as a key player in the global IoT market, driving innovation and economic growth in the country.
- Chile's IoT market is experiencing rapid growth, driven by the country's strong emphasis on renewable energy and smart agriculture.
- Key regions:
- United States,
- Australia,
- Canada,
- China,
- India
Definition:
The term Internet of Things (IoT) describes a network of physical and virtual devices that are able to communicate autonomously using the Internet Protocol (IP). The IoT market is defined by revenues generated specifically from components and services that enable connectivity and intelligence. These include hardware (e.g., sensors, chips, and other IoT-specific components), platforms (e.g., IoT platforms, security software), connectivity solutions (e.g., cellular, LoRa, SigFox), and services (e.g., equipment/system integration and maintenance).
For example, in the case of a smart security camera, only the IoT-related portion of the product contributes to the IoT revenue. This includes the components and features that make the camera "smart" and capable of connecting to the internet (such as IoT sensors or connectivity modules), but not the full price of the camera itself.
Structure:
The IoT market consists of 7 different segments. Consumer IoT includes connected devices used by end users for personal purposes such as smart security cameras or smart home hubs. Smart Finance covers IoT applications used in financial sectors such as insurance telematics/usage-based insurance, real estate, ATMs. IoT in Healthcare covers all IoT applications in a healthcare setting such as the ones used for patient care, remote patient monitoring and surgeries. The Industrial IoT covers IoT applications in Industrial settings such as the factory & agriculture automation, supply chain optimization and predictive maintenance. Automotive IoT covers IoT use cases in mobility and transportation settings, such as the V2X connections, advanced driver assistance systems (ADAS) & telematics solutions. Other IoT covers use cases such as the ones used in professional sports such as player or equipment tracking.
Additional information:
The Internet of Things market compromises of revenue, revenue growth, volume, IoT Investment, and a list of top companies and their consolidated revenues. Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
The market is fragmented, but the key players in the market include Cisco (Cisco IoT platforms and software), Qualcomm, Dell EMC, and IBM.
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- Devices embedded with IoT sensors
- IoT technology software
- IoT connectivity revenues
- IoT equipment services
- Smartphones
- Laptops
- Tablets
- PCs
- Other devices whose sole purpose is internet access
