Latin America Automotive Electronics Market Size & Outlook
Latin America automotive electronics market, 2018-2030 (US$M)
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Latin America automotive electronics market highlights
- The Latin America automotive electronics market generated a revenue of USD 25,779.9 million in 2023.
- The market is expected to grow at a CAGR of 7.6% from 2024 to 2030.
- In terms of segment, current carrying devices was the largest revenue generating component in 2023.
- Sensors is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 25,779.9 million |
| Market revenue in 2030 | USD 43,095.5 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Current carrying devices |
| Fastest growing segment | Sensors |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electronic Control Units, Sensors, Current Carrying Devices |
| Key market players worldwide | Continental AG, Denso Corp, HELLA GmbH & Co KGaA, Hitachi Ltd, Infineon Technologies AG, Robert Bosch Engineering & Business Solutions, Valeo SA, Visteon Corp, Advanced Micro Devices Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.8% of the global automotive electronics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 198,196.2 million by 2030.
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Automotive Electronics Market Scope
Automotive Electronics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America automotive electronics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive electronics market will help companies and investors design strategic landscapes.
Current carrying devices was the largest segment with a revenue share of 41.49% in 2023. Horizon Databook has segmented the Latin America automotive electronics market based on electronic control units, sensors, current carrying devices covering the revenue growth of each sub-segment from 2018 to 2030.
The Latin America region is expected to witness a significant growth in the automotive electronics market owing to the regulations initiatives taken by Latin America government to improve vehicle safety and reduce emissions, which has led to the adoption of automotive electronics technologies such as anti-lock braking systems (ABS) and electronic stability control (ESC).
Moreover, Latin America has vast renewable energy resources and has been looking to reduce its dependence on fossil fuels. This has led to an increase in the adoption of electric vehicles (EVs) and EV-related technologies such as battery management systems and charging infrastructure.
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Target buyers of Latin America automotive electronics market databook
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Our clientele includes a mix of automotive electronics market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America automotive electronics market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automotive electronics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automotive electronics market outlook size, by country, 2018-2030 (US$M)
Latin America Automotive Electronics Market Outlook Share, 2023 & 2030 (US$M)
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