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SmartDrive Systems has record year in video safety solutions market

WABCO SmartDrive systemsSmartDrive Systems shared results and highlights from its record-setting fiscal year that ended March 31, 2016. Year over year, the company achieved organic growth of 100 percent, and credits this to product innovation, strategic partnerships, and customer satisfaction across key transportation vertical markets and fleets of all sizes.

According to industry analyst firm Frost & Sullivan, the video safety solutions market is only 0.46 percent penetrated. Advanced driver assistance programs and telematics integration, 360-degree camera views, extended recording and predictive ‘big data’ analysis are gaining importance in fleet video solution decisions and will factor in market growth over the next two to five years, the firm says.

“We clearly see a tipping point in the industry as fleets have shifted their perspective on video programs and are aggressively moving to identify and roll out the best fit for their fleet,” said Steve Mitgang, CEO of SmartDrive. “With less than one percent of the market having adopted any solution, we are excited about our growth prospects in the coming years.”

Other highlights:

  • Achieved a record 4th Quarter performance with 330 percent growth over the same period in the prior year and 170 percent growth over the prior quarter
  • Tripled the customer base over the prior two years and had strong growth at existing customers with expanded subscriptions and adoption of additional service offerings
  • New fleet customers include Averitt Express, Mesilla Valley Transportation, Access Services, American Waste Control, Cypress Truck Lines, D.M. Bowman, Dunbar Armored, Inc., EnviroSolutions, Fraley & Schilling, Fortune Transportation, Holland Enterprises, Giltner, J. Grady Randolph, LTI Trucking Services, Pride Transport, Professional Auto Transport, Nussbaum, Q Carriers, Skyline Transportation, SP+, The Britt Hunt Company, Traffic Management and WW Transport
  • Ranked for the second consecutive year as one of the fastest growing companies in Deloitte’s Technology Fast 500

[related-post id=”132670″/]Product enhancements:

  • Announced the SmartChoice Program, a video-based safety program that provides fleets the freedom to choose the level of video protection that best aligns with their specific business priorities
  • Awarded 15 new patents, bringing the overall portfolio to 132 issued and pending patents
  • Announced Transportation Intelligence strategic initiative
  • Announced, with strategic partner WABCO, the industry’s first and only lane departure warning system (LDWS) capable of video analytics and combining previous functionalities of two cameras into one

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Aaron Huff is the Senior Editor of Commercial Carrier Journal. Huff’s career in the transportation industry began at a family-owned trucking company and expanded to CCJ, where for the past 14 years he has specialized in covering business and technology for online and print readers and speaking at industry events. A recipient of numerous regional and national awards, Huff holds a Bachelor’s Degree from Brigham Young University and a Masters Degree from the University of Alabama.

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