Crown Telecom: Telematics to reach US$1bn revs in 2008-2009
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[June 28, 2006]

Crown Telecom: Telematics to reach US$1bn revs in 2008-2009

(BNamericas.com Via Thomson Dialog NewsEdge) Brazilian wireless technology company Crown Telecom expects Brazil's telematics market to reach US$1bn in revenues between 2008 and 2009, Crown Telecom's CEO JR Pereira told BNamericas.

Crown Telecom expects strong growth in Brazil, with the introduction of a new law that forces manufacturers to install anti-theft tracking devices in all new cars in 2008.

In Brazil, Crown Telecom is currently installing 3000-4000 telematic units a month. With the new legislation, the company expects to reach 250,000 units in 2007 and 400,000 units in 2008.

Telematics is the use of global positioning system technology integrated with computers and mobile communications technology and is often used in vehicle tracking.

Telematic systems help to ensure the safety of car owners and also reduce insurance premiums on cars, according to Crown.

Pereira expects connectivity and mobility to boost revenues for telematics worldwide to US$80bn by 2010, more than double the US$40bn estimates of some analysts.

Sectors that benefit substantially from telematics include vehicle industries, security companies related to property, residential and corporate activities; as well as utilities, which use the technology for the control and monitoring of water supply meters, according to the company's web site.



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