Vertical Total Electron Content (VTEC) Maps over the South American Continent were utilized to investigate the temporal and longitudinal climatology of Equatorial Ionization Anomaly (EIA) using more than 350 Global Navigation Satellite Systems (GNSS) receivers. At a temporal resolution of 10 min, the EIA motions, morphologies, and evolutions were mapped using VTEC keogram along magnetic meridians lines. Between 2014 and 2019, characteristics of the EIA were studied at two different South American magnetic meridians (i.e., 3.36° E and 7.58° E) separated by ∼555 km at an altitude of 300 km. The aim of this study is to examine the EIA’s variability, monthly variations and occurrences at evenly spaced longitudinal sectors. The effects of effective meridional winds component and E × B drift velocity on the daytime asymmetry of EIA anomalies were studied using a physics-based numerical model, Sheffield University Plasmasphere-Ionosphere model at Instituto Nacional de Pesquisas Espaciais (SUPIM-INPE). We found that the EIA parameters such as strength, shape, intensity, and latitudinal positions are affected by the eastward electric field and effective meridional wind. The monthly variations in the EIA over two magnetic meridian sectors demonstrate a semiannual variation. The EIA crests were more symmetric in equinox than in solstice seasons. The asymmetries of the EIA observed during the December solstice are more intense than during the June solstice, whereas September equinox is less symmetric than March equinox seasons. Moreover, this study indicates that the vertical drift and the meridional neutral wind plays a very significant role in the development of the EIA asymmetry by transporting the plasma up the field lines. There was a notable contraction of the EIA southern hemispheric (SH) crests from the December solstice to the June solstice. Meanwhile, the EIA crest positions in the northern hemisphere (NH) expand from the December solstice to the June solstice. According to our observations, the March equinox season had the most EIA occurrences, which were then followed by the September equinox, the December and June solstices. The intensities of the EIA crests also considerably decreased with solar descending phases. Through modeling, this work provides the scientific community with new insights into the evolution/development of EIA and their latitudinal asymmetry, as well as the role of E × B drift and thermospheric neutral wind in assessing the statistical analysis of EIA variability using the largest VTEC database over the South American sector.