The North American video telematics market is three times the size of the European, which is so far largely dominated by activities in the UK, according to a new Berg Insight market study covering the video telematics market.
Berg Insight estimates that the installed base of active video telematics systems in North America reached 2,9-million units in 2021. Growing at a compound annual growth rate (CAGR) of 16,5%, the active installed base is forecasted to reach almost 6,3-million units in North America by 2026.
In Europe, the installed base of active video telematics systems is estimated to over 0,9-million units in 2021. The active installed base in the region is forecasted to grow at a CAGR of 17,9% to reach 2,1-million video telematics systems in 2026.
The integration of cameras to enable various video-based solutions in commercial vehicle environments is a massive trend 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 an added feature set to conventional fleet telematics.
The video telematics market is served by a number of different types of players, ranging from specialists focused specifically on video telematics solutions, to general fleet telematics players which have introduced video offerings, and hardware-focused suppliers offering mobile digital video recorders (DVRs) and vehicle cameras used for video telematics.