Brazilian Connected Trucks Telematics Growth Opportunities
The Brazilian connected trucks telematics market is showing good indicators for growth. Although most of the connected trucks only have the basic solutions installed (for example, track & trace) due to the exigency of carriers and insurance companies, the demand for more advanced solutions, such as video cameras, is increasing and turning the market more technological.
Other solutions related to risk management are being requested, especially by large fleets. As a result, more TSPs are providing safety & security and driver management solutions to fleet managers. In addition to rising tech solutions, another driver for this market is the several partnerships being established among OEMs, TSPs, and start-ups.
In 2021, telematics units were estimated at 1.12 million units, bringing the penetration rate to approximately 40.6%. At the end of 2021, an estimated 2.76 million trucks were serving different transportation needs and catering to industries, such as agriculture, food & beverage, healthcare, retail & delivery services, and oil & gas.
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