Latin America Internet Of Things (iot) In Retail Market Size & Outlook
Latin America internet of things (iot) in retail market, 2018-2030 (US$B)
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Latin America internet of things (iot) in retail market highlights
- The Latin America internet of things (iot) in retail market generated a revenue of USD 5.1 billion in 2023.
- The market is expected to grow at a CAGR of 28.5% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Platform 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 5.1 billion |
| Market revenue in 2030 | USD 29.3 billion |
| Growth rate | 28.5% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Platform |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Hardware, Platform, Services |
| Key market players worldwide | Cisco Systems Inc, International Business Machines Corp, Intel Corp, SAP SE, ARM Holdings PLC ADR, SoftBank Group Corp, Alphabet Inc Class A, Microsoft Corp, NXP Semiconductors NV, PTC, Aviva PLC, Avnet Inc, Verizon Communications Inc, Zebra Technologies Corp Class A |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.8% of the global internet of things (iot) in retail 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 110.4 billion by 2030.
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Internet Of Things (IoT) In Retail Market Scope
Internet Of Things (IoT) In Retail Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America internet of things (iot) in retail 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 internet of things (iot) in retail market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 45.1% in 2023. Horizon Databook has segmented the Latin America internet of things (iot) in retail market based on hardware, platform, services covering the revenue growth of each sub-segment from 2018 to 2030.
The growing trend of online purchase of various items, such as electronics, household appliances, fashion, home furnishings, and games, is driving the demand for IoT solutions in the region. Increasing investments by retail chains, such as Coppel, Liverpool, and Sanborn’s into the implementation of robust and secure online shopping portals are contributing to market growth.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America internet of things (iot) in retail market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America internet of things (iot) in retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America internet of things (iot) in retail market size, by country, 2018-2030 (US$B)
Latin America Internet Of Things (IoT) In Retail Market Outlook Share, 2023 & 2030 (US$B)
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