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Industrial IoT Business to Strike Over US$ 520 Million by 2022 in Colombia
Smart cities and the healthcare sector will expand more rapidly during this period
The Colombian Industrial Internet of Things (IIoT) sector is experiencing a boom in cloud adoption, evolution of data to intelligence, increased availability of different types of connectivity, and improved productivity.
Frost & Sullivan forecasts the market to generate revenues of $523.7 million by 2022, at a CAGR of 20.8 percent. Smart cities and the healthcare sector will expand more rapidly during this period.
"The automotive industry is forecast to spend the most on the IoT over the next 2 years since commercial vehicle telematics represented the bulk of machine-to-machine (M2M) connections in the Colombian market," explained Gina Sanchez, Information and Communication Services senior consultant at Frost & Sullivan.
Colombian Industrial Internet of Things Market, Forecast to 2022 report reveals drivers, trends, and external challenges for hardware, software, connectivity, services, and primary verticals such as automotive, utilities, agriculture and manufacturing. Company case studies on Manuelita and Azlogica, as well as a Smart City case study on Bogotá, are also provided.
