Latin America: Wings Acessórios Automotivos revenue 2019-2020

Wings Acessórios Automotivos was expected to generate 87 million Brazilian reals in revenue in 2020. This would be over 140 percent more than the 36 million-real revenue reported the previous year. Headquartered in Jaboatão dos Guararapes, Brazil, Wings produces connected car solutions and is also present in Argentina and Chile.

Wings product characteristics

The company's main product, Vehicle Artificial Intelligence (VAI), is a device that can monitor numerous functions of a car. The device can be accessed by means of an application and can transmit information about the vehicle in real time. Additionally, thanks to its telematics functions, it allows for tracking the car's location.

Automotive IoT in Brazil

During a 2020 survey fielded in Brazil, 83 percent of respondents said they used their cars’ connection with smartphones for listening to music. Making phone calls and obtaining real-time traffic information followed, mentioned by 69 and 56 percent of the participants, respectively. Overall, the value of the automotive Internet-of-Things (IoT) market in Latin America was forecast to surpass 4.3 billion U.S. dollars in 2021.