South & Central America Industrial Networking Solution Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00032118 | Category: Electronics and Semiconductor
No. of Pages: 150 | Report Code: BMIRE00032118 | Category: Electronics and Semiconductor
The South & Central America industrial networking solution market size is expected to reach US$ 2,166.27 million by 2031 from US$ 692.43 million in 2023. The market is estimated to record a CAGR of 15.3% from 2023 to 2031.
In June 2023, Nokia and Telefónica announced an alliance to accelerate digital transformation in South and Central America with the deployment of industrial IoT networks. The partnership is intended to deploy Nokia's portfolio of 5G wireless network and digitalization platform solutions across the nation, with a particular focus on sectors such as energy, mining, and manufacturing. Further, according to the Master Certificações, the advancement of the digitization of industries directly impacts the economy. It is predicted that by implementing technologies related to the Internet of Things, Brazil may generate profits of more than US$ 210 billion by 2030. Therefore, the industrial networking solutions market in South and Central America is expected to grow during the forecast period on account of the growing adoption of Industry 4.0 and the IIoT.
Key segments that contributed to the derivation of the South & Central America industrial networking solution market analysis are component, deployment, connectivity, and end-use industry.
Industry 4.0 is the result of the digital transformation in numerous industries, bringing real-time decision-making, increased productivity, flexibility, and agility to alter the business's operations. Industry 4.0 allows stakeholders to optimize facilities and increase efficiency by leveraging interconnected industrial equipment and advanced computation. The Fourth Industrial Revolution refers to the rapid transformation of 21st-century technology, industries, societal patterns, and procedures as a result of interconnectedness and intelligent automation. Multiple industries are looking to increase the operational efficiency of their assets and production systems through convergence and digitization, leveraging innovative technologies in the Industrial Internet of Things (IIoT) and Industry 4.0. However, these initiatives must securely connect production environments to standard networking technologies for industries and their key partners to gain access to a rich stream of new data, real-time visibility, and remote access to operational systems and assets. With Industry 4.0, industrial applications and digitalization efforts may benefit from LTE/4G.
Additionally, it is a key step to boost the adoption of cellular technology in industrial verticals and create the framework for future advanced networking. The benefits of Industry 4.0 processes, technologies, and systems include enhanced productivity and efficiency, better flexibility and agility, and increased profitability in networking solutions. Thus, the emergence of Industry 4.0 is expected to create opportunities for the industrial networking solutions market growth during the forecast period.
Based on country, the South & Central America industrial networking solution market comprises Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America held the largest share in 2023.
The Rest of South & Central America includes Chile, Colombia, and Peru. Implementation and use of predictive technologies and adequate monitoring systems to support maintenance programs helps improve fault detection, diagnosis, and prognosis. Further, the growth of IIoT and Industry 4.0 is expected to supplement the growth of the industrial networking solutions market in South & Central America during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 692.43 Million |
| Market Size by 2031 | US$ 2,166.27 Million |
| CAGR (2023 - 2031) | 15.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
|
Some of the key players operating in the market include ABB Ltd; Belden Inc; Cisco Systems Inc; Hewlett Packard Enterprise Development LP; Huawei Technologies Co Ltd; Moxa Inc.; Nokia Corp; Rockwell Automation Inc; Semtech Corp; and Siemens AG among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The South & Central America Industrial Networking Solution Market is valued at US$ 692.43 Million in 2023, it is projected to reach US$ 2,166.27 Million by 2031.
As per our report South & Central America Industrial Networking Solution Market, the market size is valued at US$ 692.43 Million in 2023, projecting it to reach US$ 2,166.27 Million by 2031. This translates to a CAGR of approximately 15.3% during the forecast period.
The South & Central America Industrial Networking Solution Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Industrial Networking Solution Market report:
The South & Central America Industrial Networking Solution Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Industrial Networking Solution Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Industrial Networking Solution Market value chain can benefit from the information contained in a comprehensive market report.
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