The smart home devices segment will be one of the highlights of the consumer technology market in Brazil this year, according to analyst firm IDC.
With new devices on offer as well as new features such as the ability to understand commands in Brazilian Portuguese, the analyst firm estimates an increase of 50% in units sold and a boost of over 40% in revenue.
Separate research by Avast suggests that Brazilian consumers are increasingly looking to buy connected devices for personal use and for the home, smart speakers being the most sought after item.
According to IDC, Brazilian consumers will be increasingly interested in smart home devices for security and surveillance. That particular segment is expected to grow 55% in units sold, with a 40% increase in revenue, due to the reduction of prices for some devices as well as greater competition.
For the wearables market, IDC expects the number of options for consumers will increase for the average consumer, which in turn will translate into a boost in sales.
According to IDC analyst Reinaldo Sakis, the expectation is that businesses will start making more use of wearables in 2020, which is something relatively rare in Brazil, the exception being some applications in the healthcare and manufacturing sectors.
The analyst firm predicts the wearables market in Brazil will see an increase of 62% in units sold at 498 million devices, with growth of 71% in revenue.
Sales of wearables in Brazil have been seeing a steady increase and the local market is becoming more sophisticated, according to previous IDC research.
According to IDC, high prices are usual for new products such as wearables, where specific components are used and production volumes are still low. These factors are compounded by the fact that, in Brazil, such items tend to be imported and are impacted by high taxes and the US dollar hike against the Brazilian real.
However, the research company noted that global brands looking to expand their footprint in Brazil will contribute to a decrease in final prices to consumers.