4 mins to read
How to Reduce Your Expenses
As a fleet owner, your day-to-day costs can quickly add up. What you don’t know is there are further hidden, expensive...
Read moreThe increasing number of car thefts and accidents, as well as government policies are significantly driving the demand for technologies like dashcams in recent years. Therefore, the global dashcam market is continuing to grow.
What is a dashcam and what is it used for?
A dashcam is an integrated camera that is placed on the car or truck dashboard, on the sides or rear of the vehicle to record what is happening outside and saves all this information on an SD card.
This type of technology provides first-hand knowledge of what happened in the moments before an accident and helps to clarify the facts in case of false insurance claims.
The popularity of these devices is increasing in both the private and business sectors to help prevent accidents and prioritise drivers’ security on the road. According to a study by Berg Insight, video telematics is now in a period of growth that is expected to last for many years, with continued strong uptake of video telematics solutions across all geographies expected between 2021 and 2025.(1)
How a dashcam installation can help you improve your business
AI-backed video telematics with driver-facing and road-facing cameras is reshaping safety and efficiency for fleets. Fleet businesses are able to see how smart video can serve as an unbiased witness, an incomparable driver training tool and a gold mine of data.
According to a recent study conducted by Bobit Business Media for Verizon Connect in the US, 67% of those currently using an in-cab solution improved protection from false claims and 44% reduced their insurance costs, 38% reduced accident costs and 79% improved driver safety. (2)
These are the most common dashcams types
Based on product type, you can find 1-channel dashcams that are mounted on the dashboard or windshield of the vehicle to display and record the road ahead of the vehicle, 2-channel dashcams, and rear-view dashcams.
Regarding features, we can differentiate between basic and smart dashcams. The first type is dashcams that do not connect to any other device and just record what is happening outside the vehicle, saving the recording into a SD card. However, a smart dashcam can be connected to a GPS device and send the information through this one to a fleet management platform. This connection allows the user to launch reports comparing different data and get insights about the driver behaviour among other benefits.
Basic dashcams were in highest demand in 2020, accounting for over 69.0% of the market share, and due to easy installation, low cost they are expected to further drive growth to reach 81.0 million units in 2028.(3) However, it is smart dashcams that are forecasted to have the highest annual growth rate at 16% from 2021 to 2028 in terms of revenue. (4)
Your dashcam Installation: It´s easier than you think
The installation of a dashcam in an experienced workshop usually takes about 30 minutes.
The installer instals the camera on the windshield behind the rear-view mirror of most fleet vehicles and trucks, checks that the SD card is inserted and connects the video output cable to the GPS device which is concealed in the vehicle, usually under the dashboard.
All this wiring is installed in such a way that it is invisible to the driver, passing the cable from the roof to the glove box in such a way that it is hidden and accident-free.
For this reason, it is so important that the dashcam installation is carried out by professional installers who have experience in installing GPS systems and dashcams.
Verizon Connect Integrated Video, a global solution including installation
Verizon Connect Integrated Video unites the power of HD video, AI and driver data in just one system, giving the resources that a fleet manager needs to improve the driver´s security and fuel efficiency.
Verizon Connect Integrated Video automatically classifies the event according to its severity (collision, dangerous, rough or low-risk driving) and sends a notification with the HD video to the user for review. This information is very useful for improving driving style, as it allows us to review what has happened and how to prevent it from happening again in the future.
The customer does not have to bother looking for an installer near their location, Verizon Connect performs all the dashcam installation as well as the GPS tracking system.
Reduce fuel costs, promote fleet security and avoid fraudulent fines with Verizon Connect Integrated Video, we can help you. Do you want to see it live in action?
Click here to get a quick free demo
Sources:
(1,3,4) The Video Telematics Market. M2M Research Series 2021.www.berginsight.com
(2) 2022 US Fleet Technology Trends Report