Latin America Automotive Semiconductor Market Size & Outlook
Latin America automotive semiconductor market, 2018-2030 (US$M)
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Latin America automotive semiconductor market highlights
- The Latin America automotive semiconductor market generated a revenue of USD 2,172.9 million in 2023.
- The market is expected to grow at a CAGR of 11.8% from 2024 to 2030.
- In terms of segment, passenger vehicle was the largest revenue generating vehicle type in 2023.
- Commerical Vehicle is the most lucrative vehicle type 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 2,172.9 million |
| Market revenue in 2030 | USD 4,746.0 million |
| Growth rate | 11.8% (CAGR from 2023 to 2030) |
| Largest segment | Passenger vehicle |
| Fastest growing segment | Commerical Vehicle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Passenger Vehicle, Commerical Vehicle |
| Key market players worldwide | Analog Devices Inc, Infineon Technologies AG, NXP Semiconductors NV, Renesas Electronics Corp, Rohm Co Ltd, STMicroelectronics NV, Texas Instruments Inc, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.8% of the global automotive semiconductor 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 20,628.0 million by 2030.
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Automotive Semiconductor Market Scope
Automotive Semiconductor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America automotive semiconductor 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 semiconductor market will help companies and investors design strategic landscapes.
Passenger vehicle was the largest segment with a revenue share of 76.47% in 2023. Horizon Databook has segmented the Latin America automotive semiconductor market based on passenger vehicle, commerical vehicle covering the revenue growth of each sub-segment from 2018 to 2030.
The automotive semiconductor market is expected to grow in Latin America owing to the increasing use of IoT technology in the automotive industry which has resulted in more connected cars, thus requiring advanced semiconductor components to power their communication and processing capabilities.
Furthermore, the high number of IoT connected devices in the region is expected to increase the adoption of Internet of Things, in turn increasing the adoption of sensors that use semiconductors. Moreover, IoT involves the use of sensors such as temperature, pressure, and moisture sensors that collect data from vehicles to display it on intelligent dashboards.
The adoption of the IoT technology is leading to the growth of sensors used in IoT infrastructure for collecting the data which is in turn driving the growth of semiconductors in the automotive industry.
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Target buyers of Latin America automotive semiconductor market databook
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Our clientele includes a mix of automotive semiconductor market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America automotive semiconductor market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automotive semiconductor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automotive semiconductor market size, by country, 2018-2030 (US$M)
Latin America Automotive Semiconductor Market Outlook Share, 2023 & 2030 (US$M)
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