Video Telematics to Improve Commercial Vehicle Road Safety, Driving Global Revenues to US$10 Billion by 2030

25 Oct 2023

The vast majority of commercial vehicle accidents stem from either driver error or adverse road conditions. According to the National Highway Traffic Safety Administration (NHTSA), commercial truck occupants accounted for 15% of roadside fatalities, marking a 35% increase over the past decade. Proactively identifying driver fatigue or distraction can significantly reduce accidents across commercial fleets, from long-haul trucks to last-mile delivery vehicles and rental cars. Utilizing video evidence for fault determination can not only slash or mitigate insurance expenses and clear drivers of culpability but also foster a culture of safer driving practices. According to a recent report from global technology intelligence firm ABI Research, the adoption of video telematics-based capabilities is fueling a projected 24% growth in video solution shipments by 2030, with anticipated revenues surpassing US$10 billion.  

“The advancement of dash cams surround view cameras in terms of capabilities has led to increased use cases to enable driver safety and, in turn, increased adoption in commercial fleets. Regulatory initiatives in North America, Europe, and China are also bringing more tech into commercial fleets,” explains Adhish Luitel, Supply Chain Management & Logistics Senior Analyst at ABI Research. “The level of transparency that video telematics solutions provide enables drivers and fleet managers to track critical infractions during a trip and over time—information that can increase accountability and encourage safer driving habits. It can also reduce liability, as video can be stored as evidence in case of accidents.”

Commercial video telematics vendors are progressing with solutions to include capabilities such as gesture and object recognition, 360° views of in-cab and road triggers, and live streaming for up to eight cameras. Edge computing technology, coupled with increased connectivity, has also seen increased demand to capture and analyze data in real time. Lytx, MiX Telematics, Samsara, Verizon Connect, Geotab, Zonar, PowerFleet, Trimble, and SmartDrive all have notable solutions and proven use cases. In addition, cargo monitoring is an emerging use case for fleets where video-based cargo monitoring is a great substitute or addition to existing IoT solutions. Vendors like SkyBitz, Roambee, and Motive are some emerging solutions providers in this space.

“Dash cams, Driver Monitoring Systems, external cameras, and ADAS solutions appear to be the most prevalent solutions among drivers and fleet managers. These solutions enhance the driver’s experience and add accountability among both the driver and fleet manager, which could improve overall business processes,” concludes Luitel.

These findings are from ABI Research’s Commercial Video Telematics for Road Freight Transportation and Fleets application analysis report. This report is part of the company’s Supply Chain Management and Logistics research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific application, which could focus on an individual market or geography.

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