Telematics Systems Set For Growth Across Europe and North America

Apr 29, 2020 • NewsBerg InsightfleettelematicsLytx

Study says next five years will see significant uptake across both continents.

A new report is forecasting a substantial growth in the number of active video telematics systems across Europe and North America over the next five years.

The research carried out by M2M/IoT market research firm Berg Insight says the installed-base of systems will exceed four million units by 2024 across the two continents.

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Last year (2019) the number of active systems reached almost 1.6 million units in North America which, the study says, is a Compound Annual Growth Rate (CAGR) of 15.7 per cent, a trend which should see the active installed base reach more than 3.2 million units by 2025.

In Europe, during 2019, figures for telematics solutions at came in under 0.5 million. In line with a CAGR of 16.1 per cent, the study expects this figure to reach close to one million systems by 2024.

The study categorised the large array of companies delivering such solutions which ranged "from specialists focused on video telematics solutions for various commercial vehicles, to general fleet telematics players which have introduced video offerings, and hardware-focused suppliers offering digital video recorders and vehicle cameras".

In the former category, the report cites Lytx as one of the "leading video telematics players in their respective categories", acknowledging the firms high number of subscriptions as the highest in the sector, which in 2019 reached over 600,000 devices and protected 1.3 million drivers.

The report's introduction argued that camera integration is one of the key trends in the fleet telematics sector, justifying its forecast of the combined number of devices across North America and Europe will exceed four billion by 2024.