Berg Insight, the leading IoT market research provider, today released a new report covering the video telematics market.
The integration of cameras to enable various video-based solutions in commercial vehicle environments is one of the most important trends in the fleet telematics sector.
Berg Insight’s definition of video telematics includes a broad range of camera-based solutions deployed in commercial vehicle fleets either as standalone applications or as part of conventional fleet telematics. Berg Insight has found that the installed base of active video telematics systems in North America reached almost 1.6 million units in 2019.
Growing at a compound annual growth rate (CAGR) of 15.7 percent, the active installed base is forecasted to reach more than 3.2 million units in North America by 2024. In Europe, the installed base of active video telematics systems was less than 0.5 million units in 2019. The active installed base is forecasted to grow at a CAGR of 16.1 percent to reach close to 1.0 million video telematics systems in Europe by 2024.
The video telematics market is served by a number of different types of players, ranging from specialists focused specifically on video telematics solutions for various commercial vehicles, to general fleet telematics players which have introduced video offerings, and hardware-focused suppliers offering mobile digital video recorders (DVRs) and vehicle cameras.
“Berg Insight ranks Streamax, Lytx and Samsara as the leading video telematics players in their respective categories”, said Rickard Andersson, Principal Analyst, Berg Insight.
He adds that Streamax is the leading hardware provider and the company also offers software dashboards.
Mr. Andersson continued:
“Lytx has the largest number of video telematics subscriptions, reaching more than 600,000 connected devices protecting 1.3 million drivers in 2019.”
Among the general fleet telematics players, Samsara stands out as an important solution provider with a sizable number of camera units deployed across its subscriber base. Additional major players in this space include the video safety specialist SmartDrive Systems, the fleet management player KeepTruckin and the video telematics company SmartWitness. The remaining top-10 providers are Nauto, Trimble, SureCam and VisionTrack.
“Other noteworthy video telematics players include Netradyne, Seeing Machines, CameraMatics and LightMetrics which have all reached installed bases in the tens of thousands”, concluded Mr. Andersson.