Latin America: automotive IoT revenue 2019-2023

Published by Statista Research Department, Mar 31, 2023
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)

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Release date

December 2019

Region

LAC

Survey time period

December 2019

Special properties

forecast

Supplementary notes

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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