Could Latin America be the breakthrough innovator in industrial IoT? @IDGconnect
Latin America’s interest in IoT innovation, in general, seems high. A recent Evans Data Corporation survey found that close to half (44%) of developers in the EMEA region had no interest in starting IoT projects, with only 17% of respondents actively engaged in any project of that kind. By contrast, the survey found that “South America looks to be ramping up its Internet of Things investments, with 60% of developers in that region planning to begin projects related to the internet of things and 22% already doing so”.
Adriana E. Torres Nava, Country head for Tata Consultancy Services in Mexico, says that Latin America has seen uptake in IoT in general terms. According to the findings of the TCS 2015 IoT trend report, companies in Latin America are investing an average of $54.7 million on IoT initiatives. In addition, almost half (45%) of companies in the region track customers through their mobile devices and are using IoT in their production or distribution operations.
Nava points out that, at the global level, among the manufacturing companies surveyed in the study, seven percent were from Brazil, a country in the region where Industrial IoT is gaining strength. In general, the study found that manufacturers are devoting most of their IoT budget to product monitoring (35.5%), followed by supply chain monitoring (25.7%).
For the year 2020, manufacturers are expected to allocate most of their IoT budget for product monitoring. In terms of general budget plans for 2018, manufacturers are expected to spend 11% more on IoT initiatives.
Full Blog in: http://www.idgconnect.com/blog-abstract/22550/could-latin-america-breakthrough-innovator-industrial-iot