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Nov 12, 2012
Greg Nichols outlines why Brazil, Russia, India, and China hold enormous potential as future fleet telematics markets
North America is the most active telematics market in the world, with analysts predicting double-digit growth in most telematics sectors to continue in the coming years. Nevertheless, dynamics in the fleet telematics sector are shifting, with vehicle OEMs like Freightliner entering the arena and market penetration climbing.
Competition in North America is fierce. But BRIC countries—Brazil, Russia, India, and China—hold enormous potential as future markets. (For more on emerging markets, see Industry insight: Telematics and emerging markets.)
Low market penetration
Economist Jim O’Neill coined the acronym BRIC in 2001 to refer to a bloc of rapidly developing nations on the verge of becoming the world’s largest economic powers. In a 2009 paper, O’Neill estimated that BRIC economies would surpass the G7 nations as early as 2027, much sooner than many anticipated. BRIC countries have proven resilient through a global recession, reinforcing O’Neill’s theory.
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