Carriers and insurance corporations’ emphasis on threat administration requires telematics options on vehicles that carry harmful or costly items, says Frost & Sullivan
SAN ANTONIO, Oct. 5, 2022 /PRNewswire/ — The want to deal with security, safety, and driver administration inflates demand for telematics options, driving the Brazilian linked vehicles telematics market. Frost & Sullivan’s current evaluation finds that carriers and insurance corporations’ emphasis on threat administration requires telematics options on vehicles that carry harmful or costly items. This market will attain 2.59 million items by 2027 from 1.12 million in 2021, registering commendable development at a compound annual development charge (CAGR) of 15%.
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“More than 62% of freight transportation is through the road in Brazil. This highlights the importance of the truck fleet in the country and the urgent need for telematics adoption to reduce the total cost of ownership,” stated Ingrid Schumann, Mobility Industry Analyst at Frost & Sullivan. “Additionally, although the telematics market in Brazil is still focused on track and trace solutions, other segments, such as driver and vehicle management, are increasing in demand.”
Schumann added: “The commercial vehicle segment in Brazil will grow rapidly in the next decade due to the expansion of agribusiness and eCommerce. This will positively impact the telematics market as these new vehicles represent opportunities for telematics service providers (TSPs), original equipment manufacturers, and start-ups to increase their market shares.”
To reap the advantages of the rising Brazilian linked vehicles telematics sector:
- TSPs ought to put money into options that impression gas consumption, akin to automobile and driver administration, along with routing.
- Fleet corporations ought to demand an open telematics system because it presents advantages akin to truck knowledge that will be simply learn and understood.
- TSPs that work with last-mile deliveries ought to put money into options requested by the top buyer, akin to routing, estimated time of supply, and order standing checks. For one of these product portfolio, it’s important to put money into logistics integration.
Brazilian Connected Trucks Telematics Growth Opportunities is the newest addition to Frost & Sullivan’s Mobility analysis and analyses accessible by the Frost & Sullivan Leadership Council, which helps organizations determine a steady stream of development alternatives to reach an unpredictable future.
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