Symantec Corporation (NortonLifeLock Inc.) - IBM Corporation - FireEye Inc. - Intel Corporation - Infineon Technologies - Trend Micro Inc. - Sophos Group PLC - ARM Holdings PLC - Wurldtech Security Technologies Inc. - Gemalto NV [Description of the Report] The Latin America Internet of Things (IoT) Security Market is expected to grow at a CAGR of 36.54 percent between The growth of the market in Latin America is being driven by an increase in the number of ransomware attacks on various IoT devices, an increase in the number of IoT security regulations among the developing economies in the region, and an increase in malware and phishing threats among various businesses. Additionally, Covid-19 was a major contributor to the rise of the work-from-home concept, which has contributed to an increase in the need for IoT security solutions.

Latin America has been perhaps of the best creating district, however the development of innovation isn't looking as splendid for the development of IoT. The arising plans of action and applications, combined with the decreasing gadget costs, have been instrumental in driving the reception of IoT. Subsequently, the quantity of associated gadgets, like associated vehicles, machines, meters, wearables, and shopper hardware.

Brazil is one of the world's largest countries in terms of population and size. It is likewise among the biggest economies by ostensible Gross domestic product and by buying power equality on the planet. Trading Economics says that Brazil has the largest economy in Latin America and ranks tenth globally. As per the Brazilian Establishment of Geology and Measurements, in the second quarter of 2021, the Gross domestic product in Brazil diminished by 0.1% contrasted with the past quarter.

In Latin America, specifically in Mexico, Brazil, and Argentina, Internet of Things (IoT) solutions have evolved from assisting the process of the supply chain to providing visibility to the healthcare, government offices, and hospitality industries. The quickly developing execution of Wi-Fi, RFID, Bluetooth, and sensors have welcomed on the IoT upset, which is accepted to be the most groundbreaking innovation for the following 10 years by the vast majority of respondents.

Companies in the region are heavily relying on remote-based workforce monitoring to manage employees who work from home, which is increasing demand for IoT solutions. Transparency, real-time tracking, enhanced safety, and government compliance are all facilitated by this. However, when it comes to meeting the needs of their customers during lockdowns, remote workforces and businesses rely heavily on their cybersecurity. Hence, it offers an extraordinary market a potential open door for IoT security merchants.

The IoT security solutions market is expected to grow during the forecast period, according to key market trends. The solution segment is expected to gain more market share. Security is an indispensable part of any IoT organization to guarantee information privacy and approved command over associated gadgets. The expansion of IoT security in the region is being fueled by the rising intensity of cyberattacks and the expanding reach of the Internet of Things (IoT) across a variety of sectors in the region.

Identity access management, data encryption and tokenization, intrusion detection and prevention systems, device authentication and management, secure software and firmware updates, secure communications, PKI lifecycle management, DDoS protection, security analytics, and other solutions are used in IoT security solutions to ensure security.

Although Internet of Things (IoT) devices are gaining popularity, they present a number of serious cyber security issues for large businesses. However, IoT security solutions have received scant attention despite the fact that wearables, smart thermostats, routers, printers, and any other device that connects to the internet can be hacked in the same way that laptop and desktop computers can.

IoT security solutions are especially scarce for large businesses because they do not manufacture their own equipment. These businesses buy connected devices from third parties and assume that they are safe. Latin American IoT device manufacturers operate in a regulatory and oversight-free environment. Brazil has taken a significant step toward encouraging innovation by promoting the Internet of Things (IoT) technologies and the implementation of IoT security across industries and businesses. This is increasing the demand for IoT security solutions in the region. In Brazil, where Brazilian hackers are targeting IoT devices with malware, instances involving compromised devices, botnets, and vulnerabilities have become commonplace. In Brazil, IoT devices are being used as part of a botnet or a scanning activity. The Centro de Estudos, Resposta e Tratamento de Incidentes de Seguranca no Brasil received nearly 318,700 cyber incidents during the first half of 2020. In the region, this is increasing the demand for IoT security solutions.

According to the Ministry for Science, Technology, and Innovation (MCTI), the center is the first government research facility to employ the quintuple innovation helix framework, which describes interactions between university-industry-government-public-environment within a knowledge economy. In July 2021, the Brazilian government launched a new technology development center with a focus on the Internet of Things (IoT), robotics, and 5G. Such innovative work exercises by the public authority are supposed to fuel the development of IoT security in the district.

One of the pillars of Brazil's Digital Transformation Strategy, the National IoT Plan was announced in March 2018 as a means of bolstering the IoT's national innovation ecosystem and development. A portion of the other late improvements in the IoT front in Brazil incorporate sending off a USD 45 million funding store in May 2021 that is centered around beginning phase interests in organizations dynamic in the Web of Things (IoT) and network space.

Serious Scene
Latin America Web of Things (IoT) Security Market is divided with not many central parts, which are different laid out global brands, homegrown brands, as well as new participants that structure a serious scene. Through various strategic mergers and acquisitions, innovation, and increasing investments in R&D, some of the major players are increasingly seeking market expansion.

April 2020: NortonLifeLock and Cytrust, a cybersecurity spinoff, collaborated to identify cybersecurity risks and protect businesses in Latin America. Cytrust cyberscoring makes it simple for small businesses to determine their vulnerability to cyberattacks. NortonLifeLock's IoT cyber safety solutions are also available to Cytrust customers as part of this effort.
April 2020: An Internet of Things (IoT) eSIM was launched by Infineon and Tata Communications and is available in 200 locations in North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa. "Security hardware" powers the OPTIGA Connect eSIM, which comes pre-integrated with cellular coverage that is "carrier-agnostic."