Berg Insight forecast a bright near-term future for the installed base of video telematics systems, tipping North America and Europe to lead solid growth over the next five years.
The IoT market research company expects the installed base of video telematics systems in North America to grow from almost 6.1 million units in 2024 to 13.8 million in 2029.
In Europe, the figure is tipped to hit 3.3 million compared with just over 1.6 million in 2024.
Berg Insight branded the integration of cameras to provide a range of video-based services in vehicles a “massive trend in the fleet telematics sector”.
It noted the segment is “served by a number of different types of players” spanning specialists, generalists and hardware businesses “offering mobile digital video recorders (DVRs) and vehicle cameras”.
Principal analyst Rickard Andersson said Berg Insight ranks Streamax Technology, “Lytx and Samsara as the leading video telematics players in their respective categories”.
Berg Insight stated Streamax Technology’s installed base of DVRs stands at more than 4 million, Lytx passed the 1 million mark for video telematics vehicle subscriptions, with Samsara a stand-out in terms of camera unit deployments.
The company added partnerships are “increasingly common in the value chain for fleet telematics in general and video” in particular, with a rise in the number of integrated approaches combining “fleet and video telematics”.