In 2020, automotive Internet-of-Things (IoT) market is projected to generate 3.5 billion U.S. dollars. By 2023, the value is expected to increase to 6.4 billion. In the same period, the total IoT market in the region is forecasted to grow from 18 to 32 billion U.S. dollars. Between 2018 and 2025, the number of IoT connections in Latin America is projected to grow from 526 million to 1.3 billion.
Automotive Internet-of-Things (IoT) market value in Latin America from 2019 to 2023
(in billion U.S. dollars)
The Statista estimate is based on values in 2023 and the compound annual growth rate from 2019 to 2023 of 22%, which were provided by the source. An exponential development of the market was assumed.
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Statista. (December 11, 2019). Automotive Internet-of-Things (IoT) market value in Latin America from 2019 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1049206/automotive-iot-market-latin-america/
Statista. "Automotive Internet-of-Things (IoT) market value in Latin America from 2019 to 2023 (in billion U.S. dollars)." Chart. December 11, 2019. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1049206/automotive-iot-market-latin-america/
Statista. (2019). Automotive Internet-of-Things (IoT) market value in Latin America from 2019 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1049206/automotive-iot-market-latin-america/
Statista. "Automotive Internet-of-things (Iot) Market Value in Latin America from 2019 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 11 Dec 2019, https://www.statista.com/statistics/1049206/automotive-iot-market-latin-america/
Statista, Automotive Internet-of-Things (IoT) market value in Latin America from 2019 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1049206/automotive-iot-market-latin-america/ (last visited November 21, 2024)
Automotive Internet-of-Things (IoT) market value in Latin America from 2019 to 2023 (in billion U.S. dollars) [Graph], Statista, December 11, 2019. [Online]. Available: https://www.statista.com/statistics/1049206/automotive-iot-market-latin-america/
