Latin America Commercial Vehicle Remote Diagnostics Market Size & Outlook
Latin America commercial vehicle remote diagnostics market, 2018-2030 (US$M)
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Latin America commercial vehicle remote diagnostics market highlights
- The Latin America commercial vehicle remote diagnostics market generated a revenue of USD 248.5 million in 2023.
- The market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating type in 2023.
- Hardware is the most lucrative type segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 248.5 million |
| Market revenue in 2030 | USD 435.8 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Hardware |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware |
| Key market players worldwide | Meritor WABCO, Tech Mahindra, Robert Bosch Engineering & Business Solutions, Continental AG, Harman International, Delphi Technologies |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.7% of the global commercial vehicle remote diagnostics market in 2023.
- Globally, North America 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 2,497.0 million by 2030.
Hardware was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Latin America commercial vehicle remote diagnostics market based on hardware covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America is one of the fastest growing regions for the medical device outsourcing market owing to cost-effectiveness and rise in the number of new entrants venturing into the medical device market within the region.
Brazil, Mexico, Colombia, Venezuela, and Argentina are driving the growth of the medical device market in Latin America.
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Commercial Vehicle Remote Diagnostics Market Scope
Commercial Vehicle Remote Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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