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Emerging Technology - Industry - South America Market, Share and Trends 2023-2028

Report ID:

ETIND1S

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Industry:

Summary of Emerging Technology

The emerging technology sector in South America represents a significant opportunity for growth and innovation. With a current market value of $94.4 billion in 2023 and a projected market value of $152.51 billion in 2029 – the region is actively developing capabilities across several high-potential fields – with a healthy CAGR of 8.3 %.

Artificial intelligence is one area where South American countries are making strides. Brazil in particular has emerged as a leader, with its large population providing a wealth of data to train machine learning models. Startups in São Paulo and other major cities are applying AI to challenges in healthcare, education, agriculture and beyond. Meanwhile— Argentina is using AI to optimize crop yields and tackle social issues.

Blockchain is another emerging tech gaining traction. Venezuela has explored blockchain applications for its petro cryptocurrency. Peru has implemented blockchain projects for supply chain transparency. And across the region, fintech companies are experimenting with blockchain to expand financial inclusion.

The market is also advancing in areas like:– augmented and virtual reality, robotics, 3D printing, renewable energy and biotechnology. Chile has become a hub for renewable energy innovation thanks to its natural resources. Uruguay is deploying wind and solar at a rapid pace. Colombia’s strong biotech sector shows promise for developing new medicines and agricultural solutions.

South American governments are committed to fostering innovation through initiatives like startup accelerators, STEM education programs and investment in R&D. If the region can address challenges around infrastructure, regulation and access to capital/talent, its emerging tech industry has significant potential to drive economic and social progress over the coming decade. The opportunities for growth appear vast.

Recent Trends and Insights

The emerging technology sector in South America is gaining momentum as countries recognize its potential to accelerate economic development and social progress. Over the past few years, some notable trends and insights have emerged:

Brazil has been particularly proactive in advancing technologies like:– artificial intelligence, cloud computing and digital infrastructure. Startups in these fields are attracting significant venture capital investment. The government also launched an “AI Strategy” to guide responsible AI development and identify economic opportunities.

Argentina has introduced tax incentives for companies investing in areas such as:– robotics, nanotech, biotech and renewable energy. This is spurring private sector R&D spending on locally-relevant solutions. The government additionally aims to boost STEM education to cultivate more domestic tech talent.

Colombia has seen fintech blossom, with its capital Bogota now hosting dozens of startups in:– blockchain, payments, lending and insurtech. Recognizing this potential, the nation developed a “Digital Transformation Strategy” focused on expanding :– digital services, skills and connectivity nationwide. 

Across the region, the COVID-19 pandemic accelerated the adoption of technologies that enable remote work like:– cloud computing and collaboration tools. It also highlighted the need to close digital divides, with many governments pledging broadband expansion plans.

Blockchain use cases are proliferating as well, from tracking supply chains to digital identity/KYC to remittance networks. Governments explore blockchain’s role in modernizing outdated systems and facilitating financial inclusion too.

If South American countries continue prioritizing emerging tech, it could help diversify their economies and make them more competitive on the global stage. Ongoing investments and initiatives signal a promising outlook, though digital skills gaps and infrastructure bottlenecks still need addressing.

Product Insights

As the emerging tech sector in South America matures, specific high-growth products and applications are gaining more attention from investors, businesses and governments.

Explainable AI is a major focus, as the ability to understand how AI systems reach decisions is important for building trust. Startups in Brazil and Chile are working to develop techniques for interpreting complex machine learning models.

Conversational interfaces and intelligent agents also show promise in the region. These technologies could help more people access services via their preferred language regardless of technical literacy. Several startups are exploring chatbots and virtual assistants tailored for local markets.

Privacy-preserving technologies are another area of interest due to concerns around data sovereignty. Companies in Argentina and elsewhere research ways to perform analytics on encrypted data or allow transactions without revealing identities. This could boost tech adoption.

Autonomous vehicles are another field with high potential impact. As cities grow more congested, autonomous transport stands to improve mobility and logistics efficiency. Testing has begun on:–  self-driving trucks, taxis and delivery bots throughout South American megacities.

Augmented reality and virtual reality also enable new experiences in education, tourism and beyond. Several tech parks now offer incubation programs focused on AR/VR product development for the region.

If South American startups and researchers continue advancing in these high-growth areas, it could cement the region’s role as a global emerging tech leader and help address diverse economic and social challenges.

Key Companies

Some major players within this vast domain of industry are

  • Stone Pagamentos
  • ai
  • Latamel
  • Kaspersky Labs
  • Sonda
  • PSafe
  • Nubank
  • Mercado Pago

Regional Analysis

The emerging technology landscape varies significantly across South American nations due to differences in economic development, infrastructure access, and government support. Brazil is currently the undisputed leader of the region.

As the largest South American economy, Brazil accounts for over 41% of the total emerging tech market share :– valued at $38.8 billion in 2023. It has a large, skilled talent pool and the most developed startup ecosystem in Latin America. Sao Paulo and other major cities actively foster tech innovation through funding programs and collaboration spaces. The country’s market is projected to expand the fastest at a 9.4% CAGR until 2029.

Argentina has the second largest tech market valued at $14.35 billion in 2023, representing 15.2% of the regional total. While economic volatility remains a challenge, the government is working to strengthen intellectual property protections and digital infrastructure to better support local tech businesses.

Colombia has also emerged as a significant player, contributing $11.89 billion or 12.6% of the South American market in 2023. Its capital Bogota hosts a thriving startup community, especially in:–  fintech, and the government aims to make the country a leader in AI and blockchain applications.

The remaining 31.1% of the $94.4 billion market in 2023 is dispersed across other South American nations including — Peru, Chile, Ecuador, Paraguay, Uruguay and Venezuela. While individual markets are smaller, countries like Chile and Uruguay have developed niche strengths in areas like:– renewable energy, biotech and digital government services.

Market Segmentation

By Type:

  • Information Technology
  • Biotechnology
  • Robotics and Automation
  • Internet of Things (IoT)
  • Nanotechnology

By Industry/Application:

  • Healthcare and Life Sciences
  • Finance and Banking
  • Manufacturing
  • Energy and Environment
  • Transportation

By Market Segment:

  • Startups and Innovators
  • Corporate Enterprises
  • Government and Public Sector
  • Research and Development
  • Consumer Electronics

By Countries:

  • Brazil
  • Argentina
  • Columbia

Our Methodology

We have offered a well-founded review of the South America’s regional Emerging technology market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The South America Size of the Emerging Technology Industry is USD 94.4 Billion in 2023 and is expected to grow to USD 152.51 Billion by 2029

The CAGR of the Emerging Technology Industry Market in South America is 8.3%

The Brazil region accounts for 41.1% of the total market share of the Emerging Technology Industry Market

The key players in the Emerging Technology Industry Market in South America are Mercado Li, Nubank, Despegar, StoneCo and Rappi . These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Emerging Technology Industry Market in South America are . These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Emerging Technology

The emerging technology sector in South America represents a significant opportunity for growth and innovation. With a current market value of $94.4 billion in 2023 and a projected market value of $152.51 billion in 2029 – the region is actively developing capabilities across several high-potential fields – with a healthy CAGR of 8.3 %.

Artificial intelligence is one area where South American countries are making strides. Brazil in particular has emerged as a leader, with its large population providing a wealth of data to train machine learning models. Startups in São Paulo and other major cities are applying AI to challenges in healthcare, education, agriculture and beyond. Meanwhile— Argentina is using AI to optimize crop yields and tackle social issues.

Blockchain is another emerging tech gaining traction. Venezuela has explored blockchain applications for its petro cryptocurrency. Peru has implemented blockchain projects for supply chain transparency. And across the region, fintech companies are experimenting with blockchain to expand financial inclusion.

The market is also advancing in areas like:– augmented and virtual reality, robotics, 3D printing, renewable energy and biotechnology. Chile has become a hub for renewable energy innovation thanks to its natural resources. Uruguay is deploying wind and solar at a rapid pace. Colombia’s strong biotech sector shows promise for developing new medicines and agricultural solutions.

South American governments are committed to fostering innovation through initiatives like startup accelerators, STEM education programs and investment in R&D. If the region can address challenges around infrastructure, regulation and access to capital/talent, its emerging tech industry has significant potential to drive economic and social progress over the coming decade. The opportunities for growth appear vast.

Recent Trends and Insights

The emerging technology sector in South America is gaining momentum as countries recognize its potential to accelerate economic development and social progress. Over the past few years, some notable trends and insights have emerged:

Brazil has been particularly proactive in advancing technologies like:– artificial intelligence, cloud computing and digital infrastructure. Startups in these fields are attracting significant venture capital investment. The government also launched an “AI Strategy” to guide responsible AI development and identify economic opportunities.

Argentina has introduced tax incentives for companies investing in areas such as:– robotics, nanotech, biotech and renewable energy. This is spurring private sector R&D spending on locally-relevant solutions. The government additionally aims to boost STEM education to cultivate more domestic tech talent.

Colombia has seen fintech blossom, with its capital Bogota now hosting dozens of startups in:– blockchain, payments, lending and insurtech. Recognizing this potential, the nation developed a “Digital Transformation Strategy” focused on expanding :– digital services, skills and connectivity nationwide. 

Across the region, the COVID-19 pandemic accelerated the adoption of technologies that enable remote work like:– cloud computing and collaboration tools. It also highlighted the need to close digital divides, with many governments pledging broadband expansion plans.

Blockchain use cases are proliferating as well, from tracking supply chains to digital identity/KYC to remittance networks. Governments explore blockchain’s role in modernizing outdated systems and facilitating financial inclusion too.

If South American countries continue prioritizing emerging tech, it could help diversify their economies and make them more competitive on the global stage. Ongoing investments and initiatives signal a promising outlook, though digital skills gaps and infrastructure bottlenecks still need addressing.

Product Insights

As the emerging tech sector in South America matures, specific high-growth products and applications are gaining more attention from investors, businesses and governments.

Explainable AI is a major focus, as the ability to understand how AI systems reach decisions is important for building trust. Startups in Brazil and Chile are working to develop techniques for interpreting complex machine learning models.

Conversational interfaces and intelligent agents also show promise in the region. These technologies could help more people access services via their preferred language regardless of technical literacy. Several startups are exploring chatbots and virtual assistants tailored for local markets.

Privacy-preserving technologies are another area of interest due to concerns around data sovereignty. Companies in Argentina and elsewhere research ways to perform analytics on encrypted data or allow transactions without revealing identities. This could boost tech adoption.

Autonomous vehicles are another field with high potential impact. As cities grow more congested, autonomous transport stands to improve mobility and logistics efficiency. Testing has begun on:–  self-driving trucks, taxis and delivery bots throughout South American megacities.

Augmented reality and virtual reality also enable new experiences in education, tourism and beyond. Several tech parks now offer incubation programs focused on AR/VR product development for the region.

If South American startups and researchers continue advancing in these high-growth areas, it could cement the region’s role as a global emerging tech leader and help address diverse economic and social challenges.

Key Companies

Some major players within this vast domain of industry are

  • Stone Pagamentos
  • ai
  • Latamel
  • Kaspersky Labs
  • Sonda
  • PSafe
  • Nubank
  • Mercado Pago

Regional Analysis

The emerging technology landscape varies significantly across South American nations due to differences in economic development, infrastructure access, and government support. Brazil is currently the undisputed leader of the region.

As the largest South American economy, Brazil accounts for over 41% of the total emerging tech market share :– valued at $38.8 billion in 2023. It has a large, skilled talent pool and the most developed startup ecosystem in Latin America. Sao Paulo and other major cities actively foster tech innovation through funding programs and collaboration spaces. The country’s market is projected to expand the fastest at a 9.4% CAGR until 2029.

Argentina has the second largest tech market valued at $14.35 billion in 2023, representing 15.2% of the regional total. While economic volatility remains a challenge, the government is working to strengthen intellectual property protections and digital infrastructure to better support local tech businesses.

Colombia has also emerged as a significant player, contributing $11.89 billion or 12.6% of the South American market in 2023. Its capital Bogota hosts a thriving startup community, especially in:–  fintech, and the government aims to make the country a leader in AI and blockchain applications.

The remaining 31.1% of the $94.4 billion market in 2023 is dispersed across other South American nations including — Peru, Chile, Ecuador, Paraguay, Uruguay and Venezuela. While individual markets are smaller, countries like Chile and Uruguay have developed niche strengths in areas like:– renewable energy, biotech and digital government services.

Market Segmentation

By Type:

  • Information Technology
  • Biotechnology
  • Robotics and Automation
  • Internet of Things (IoT)
  • Nanotechnology

By Industry/Application:

  • Healthcare and Life Sciences
  • Finance and Banking
  • Manufacturing
  • Energy and Environment
  • Transportation

By Market Segment:

  • Startups and Innovators
  • Corporate Enterprises
  • Government and Public Sector
  • Research and Development
  • Consumer Electronics

By Countries:

  • Brazil
  • Argentina
  • Columbia

Our Methodology

We have offered a well-founded review of the South America’s regional Emerging technology market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The South America Size of the Emerging Technology Industry is USD 94.4 Billion in 2023 and is expected to grow to USD 152.51 Billion by 2029

The CAGR of the Emerging Technology Industry Market in South America is 8.3%

The Brazil region accounts for 41.1% of the total market share of the Emerging Technology Industry Market

The key players in the Emerging Technology Industry Market in South America are Mercado Li, Nubank, Despegar, StoneCo and Rappi . These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Emerging Technology Industry Market in South America are . These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

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Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.