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.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
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 December 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 December 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: December 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 December 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/
