Expanded Focus Required: The Enhancement of LATAM Security Warrants International Scrutiny
In the fast-evolving landscape of Latin America (LATAM), end-users and channel partners are seeking more than just affordable hardware. They are demanding quality, service, and reliability in security solutions, signifying a shift towards higher expectations in the region.
This week, the Expo Seguridad show floor in LATAM is bustling with distributors representing big names, many of whom are absent. The vacuum left by previous global players has led to a sense of abandonment, serving as a cautionary example for those offering low-cost solutions without commitment to the region.
Recognising the potential of LATAM, Access Control Solutions (ACS) LATAM is launching in São Paulo this October. The first regional Access Control Summit focused entirely on Latin America, ACS LATAM is partnered with Google and aims to create actionable outcomes both locally and globally, fostering collaboration and growth in the LATAM security industry.
LATAM, a region consisting of 33 countries and territories where Spanish and Portuguese are dominant, is already experiencing growth. To meet this energy with equal enthusiasm and inclusion, it is crucial for the global community to offer translated sessions and treat each country as unique, rather than interchangeable.
The success of global players in LATAM hinges on building trust, hiring locally, and demonstrating a visible commitment. A decade ago, many global security players built local teams and infrastructure in LATAM, only to later pull out. The "race to the bottom" in terms of providing low-cost security solutions rarely ends well in LATAM, as it can lead to service issues, as seen with Chinese car brands flooding Mexico City with low-cost options, only to be plagued by service issues.
To engage successfully in the Latin American market, companies must carefully consider the unique economic and regulatory landscapes of each country. Key strategies include leveraging natural resource advantages and strategic location, navigating and optimising regulatory and trade frameworks, accounting for geopolitical and trade competition dynamics, investing in innovation and climate tech ecosystems, and tailoring strategies to each country’s economic context and capacity for reform.
The digital community in LATAM, particularly on LinkedIn, is thriving with real conversations, sharing insights, and telling the region's story. Companies that stay engaged in LATAM are noticed and remembered, suggesting that continued presence is important for success in the region. The goal for companies in LATAM is not just growth, but also meeting that energy with presence, humility, and intent. ACS LATAM, an invitation-only event designed to foster conversations among industry leaders, partners, and end-users, aims for collaboration that leads to action, both locally and globally.
References: [1] World Economic Forum (2021). Latin America and the Caribbean: A Region of Opportunity. [2] Inter-American Development Bank (2020). Latin America and the Caribbean: Overcoming Challenges to Trade and Integration. [3] Start-Up Chile (2021). Chile's Startup Scene. [4] Mercado Libre (2020). The Growth of E-commerce in Latin America.
- In line with the demand for quality and reliability in security solutions, Access Control Solutions (ACS) LATAM, partnered with Google, aims to promote education-and-self-development and general-news discussions within Latin America's security industry by launching the first regional Access Control Summit in São Paulo this October.
- To succeed in Latin America, not only should companies focus on growth, but they must also engage in technology discussions that foster collaboration, presence, and intent, as showcased by ACS LATAM's invitation-only event designed for industry leaders, partners, and end-users.
