South & Central America Connected Vehicle Market Forecast to 2030 - Regional Analysis - by Technology, Connectivity, and Application

The South & Central America connected vehicle market was valued at US$ 3.19 billion in 2022 and is expected to reach US$ 13.35 billion by 2030; it is estimated to record a CAGR of 19.6% from 2022 to 2030.

Increasing Smart City Initiatives Drive South & Central America Connected Vehicle Market

The impact of smart cities and infrastructure development on the demand for the connected vehicle market in the coming years is poised to be transformative. As cities across the globe continue to evolve into intelligent, tech-driven urban centers, the synergy between these developments and the connected vehicle market is set to shape the future of urban mobility. The growing emphasis on innovative city initiatives drives investments in infrastructure supporting connected vehicles.

These investments encompass the deployment of sensors, data networks, and real-time traffic management systems that create a rich ecosystem of data that is favorable for the connected vehicles industry. As smart cities increasingly prioritize environmental sustainability, the demand for connected vehicles, particularly electric and hybrid models, is expected to surge. These cities actively promote eco-friendly transportation options to reduce emissions and combat pollution. Connected vehicles play a pivotal role in this endeavor by offering features such as energy management, remote diagnostics, and optimized charging, all of which contribute to a greener, more sustainable urban transportation ecosystem. As cities continue to incentivize and invest in green mobility solutions, the market demand for connected vehicles with environmentally friendly features is set to grow substantially.

South & Central America Connected Vehicle Market Overview

The South America automotive industry is a dynamic and evolving sector characterized by a wide range of vehicles, from compact cars to rugged off-road vehicles. Amidst this diverse landscape, the connected vehicle industry is emerging as a game-changer, enhancing not only the driving experience but also contributing to the region's economic and environmental goals. Brazil is the largest automotive market in South America. Brazilian automakers are incorporating advanced telematics systems and infotainment features into their vehicles, allowing consumers to stay connected while on the road. With a focus on enhancing the overall driving experience, Argentine consumers are increasingly opting for vehicles equipped with advanced connectivity features, such as smartphone integration and remote vehicle management.

South & Central America Connected Vehicle Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Connected Vehicle Market Segmentation

The South & Central America connected vehicle market is segmented based on technology, connectivity, application, and country. Based on technology, the South & Central America connected vehicle market is categorized into 5G, 4G/LTE, and 3G & 2G. The 4G/LTE segment held the largest market share in 2022.

In terms of connectivity, the South & Central America connected vehicle market is segmented into integrated, tethered, and embedded. The integrated segment held the largest market share in 2022.

By application, the South & Central America connected vehicle market is categorized into telematics, infotainment, driving assistance, and others. The infotainment segment held the largest market share in 2022.

Based on country, the South & Central America connected vehicle market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America connected vehicle market share in 2022.

AT & T, Audi AG, Bayerische Motoren Werke AG, Continental AG, Denso, General Motors Co, Harman International Industries Inc, Robert Bosch GmbH, Visteon Corp, and Vodafone Group Plc are some of the leading companies operating in the South & Central America connected vehicle market.

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