IoT advance in Latin America: 35% of companies plan to invest in the next 18 months

The adoption of the Internet of Things (IoT) has been growing every year. According to the IoT Snapshot 2022 study, prepared by Logicalis, the technology is already a reality in Latin America and continues to expand. Between 2018 and 2021, the number of companies that are in the PoCs (proof of concept) phase, pilot projects or initiatives already in production grew 15% in Latin America, with 47% of companies already in the process of implementing IoT.

Among the solutions most used by these organizations are: video analytics for monitoring people and environments (49%), stock management and internal logistics (27%) and geolocation (26%)

In a context of growth in IoT-related projects, the insight of the importance of this technology remains stable. The data reveals that 44% of respondents rated the importance of IoT solutions as “Very High” or “High”.

When we look at the future of IoT technology in the medium term (three to five years), we see an upward trend, with 71% of respondents rating the importance of IoT solutions to their business as “Very High” and “High”. ». As a result, 35% of companies in Latin America plan to invest in IoT projects in the next 18 months.

Within this projection, the sectors with the most particular investment plans are Utilities, with 56% of companies aiming to implement IoT technology in their businesses, followed by the services area (40%).

Among the benefits of technology highlighted by respondents are innovation, indicated by 67% of executives as the main benefit, followed by productivity/agility, with 49%, and operational efficiency, with 42%.

When it comes to IoT adoption challenges, budget is the biggest impediment for 45% of respondents. Moment, there is an issue whose importance has already appeared in the 2019 edition of the study: organizational culture, which was identified by 37% of Hispanic countries as the leading barrier to IoT initiatives.

According to Yassuki Takano, Director of Consulting Services at Logicalis, these data show that, in general, despite the fact that there is still a long way to go in knowledge within organizations, they are already mobilizing to change that scenario.
“Throughout the development of this edition, we have been consolidating a vision that technology has the potential to convert and solve problems and challenges in the most diverse sectors of the market. We have passed the stage of proving that IoT works and now we are at the occasion of showing the real results of the technology” , says Takano. For him, there are positive prospects with the amplification and acceleration of digitization. “If the trends of investing and capturing benefits with solutions continue, it will be a matter of time before we see even more impressive data in the next editions of IoT Snapshot” , he concludes.

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