The installed base of video telematics systems in North America and Europe to exceed 6 million units by 2025
Berg Insight, the leading IoT market research provider, today released a new market study covering the video telematics market. The integration of cameras to enable various video-based solutions in commercial vehicle environments is an important 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 to conventional fleet telematics. The frontrunning North American video telematics market is more than twice the size of the European, which is so far largely dominated by activities in the UK. Berg Insight estimates that the installed base of active video telematics systems in North America reached 2.1 million units in 2020. Growing at a compound annual growth rate (CAGR) of 16.2 percent, the active installed base is forecasted to reach more than 4.4 million units in North America by 2025. In Europe, the installed base of active video telematics systems is estimated to almost 0.8 million units in 2020. The active installed base in the region is forecasted to grow at a CAGR of 17.9 percent to reach 1.8 million video telematics systems in 2025. 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. Berg Insight ranks Streamax, Lytx and Samsara as the leading video telematics players in their respective categories. “Streamax is the leading hardware provider, that also offers software dashboards which are widely used together with its devices”, said Rickard Andersson, Principal Analyst, Berg Insight. He adds that Lytx has the largest number of video telematics subscriptions, with an estimated installed base in the range of 700,000 connected devices. “Samsara stands out among the general fleet telematics players as a particularly strong provider with a sizable number of camera units deployed across its subscriber base”, continued Mr. Andersson. Additional significant players in this space include the fleet management pioneer Omnitracs (which recently acquired the video safety specialist SmartDrive Systems), the video telematics company SmartWitness and the fleet management player KeepTruckin. The remaining top-10 providers are Nauto, Howen, Trimble and VisionTrack. Other noteworthy players competing in the video telematics space include video-focused solution providers such as Netradyne, SureCam, Vision Techniques, Seeing Machines, LightMetrics, CameraMatics, Surfsight (now part of Lytx), Idrive, VUE and Exeros Technologies, fleet telematics players including Matrix Telematics, MiX Telematics, Microlise, Azuga, Radius Telematics and Trakm8, as well as the hardware-focused supplier Pittasoft (BlackVue). “These players have all reached estimated installed bases in the tens of thousands”, concluded Mr. Andersson.

The precision agriculture market to reach € 3.7 billion worldwide in 2025
According to a new research report from the IoT analyst firm Berg Insight, the global market for precision agriculture solutions is forecasted to grow from € 2.7 billion in 2020 at a compound annual growth rate (CAGR) of 6.8 percent to reach about € 3.7 billion in 2025. A set of technologies are applied in precision farming practices, which are aimed at managing variations in the field to maximise yield, raise productivity and reduce consumption of agricultural inputs. While solutions such as auto-guidance and machine monitoring and control via on-board displays today are mainstream technologies in the agricultural industry, telematics and Variable Rate Technology (VRT) are still in the early stages of adoption. Interoperability between solutions remains a challenge, although standardisation initiatives led by organisations such as Agricultural Industry Electronics Foundation and AgGateway make progress. Most major agricultural equipment manufacturers have today initiatives related to precision agriculture although strategies vary markedly. Leading vendors of precision agriculture solutions include the world’s largest manufacturer of agricultural equipment Deere & Company, followed by the precision technology vendors Trimble, Topcon Positioning Systems, Raven Industries and Hexagon. Major input manufacturers like BASF, Bayer, Corteva Agriscience and Syngenta have entered the space primarily through acquisitions and focus on providing mapping tools and decision support for the purpose of input optimisation and yield maximisation. A group of companies have emerged as leaders on the nascent market for in-field sensor systems. These include Semios, Pessl Instruments with its METOS brand, Davis Instruments and Sencrop. Dealerships play a crucial role in the agricultural industry as the customer base is dispersed across remote areas. “The increasingly complex technological environment that farmers operate in demands dealers to offer a greater extent of services to integrate and support the range of solutions that are used in precision farming”, said Fredrik Stalbrand, Senior Analyst, Berg Insight. Investments in dealership training and support enable companies to provide complete offerings including installation and integration with equipment that is used on the farm. “New entrants are thus challenged not only to offer value for farmers but also dealers. Investments in channel partners will be key to expansion”, concluded Mr. Stalbrand.

More than 570 million smart electricity meters to be deployed in Asian markets until 2025
A new research study from the IoT analyst firm Berg Insight forecasts that 572.3 million smart electricity meters will be deployed in China, India, Japan and South Korea during 2021–2025. At the end of 2019, overall smart meter penetration stood at 69 percent in these markets, corresponding to an installed base of 653.3 million units. While China has already completed first-wave rollouts, Japan and South Korea will be the next markets to reach nationwide coverage with likely completion in the next 3–4 years. India had on the other hand only reached a penetration of around 1 percent at the end of 2020 but is expected to be the main driver behind overall smart meter penetration growth in Asia-Pacific in the coming years. The Chinese market is expected to account for as much as 70–80 percent of smart electricity meter demand across Asia in the next few years with refreshment rounds replacing early smart meter installations now beginning at a larger scale in the country. This demand continues to be fulfilled entirely by domestic manufacturers of which many have now grown to match the largest global smart metering players in terms of output and revenues. “More advanced meter requirements along with growing demand for new use cases in the domestic market are now also strengthening the competitiveness of Chinese vendors in the global smart metering market” said Levi Ostling, smart metering analyst, Berg Insight. These vendors are now making strong inroads into fast-growing smart metering markets such as Central Asia, the Middle East and Africa. At the same time, the Indian smart metering market has in recent time faced difficulties in ramping up its smart metering deployments. “Ambitious targets to roll out some 250 million smart meters within just a few years’ time has so far failed to materialize, with the installed base of such devices merely doubling over the past two years to reach a modest 3 million units at the end of 2020” said Mr. Ostling. The country has however been severely affected by the ongoing Covid-19 pandemic and heavy lockdowns meant that smart meter deployments were at a complete standstill during the greater part of 2020. Hopefully, things will change for the better in 2021. During the second half of 2020, tender activity actually started to pick up pace and a new funding scheme tentatively called SAMARTH and worth up to INR 4 trillion is currently under consideration by the government. Overall, Berg Insight forecasts that the Indian market will experience a compound annual growth rate of 76.2 percent during the forecast period and account for as much as 15–20 percent of smart meter shipments in Asia in 2025.

Two thirds of all electricity meters in North America are now smart
According to new a research report from the analyst firm Berg Insight, the penetration of smart electricity meters in North America reached 68 percent in 2020. Overall, the installed base of smart electricity meters will grow at a compound annual growth rate of 5.7 percent during 2019–2025 to reach a total of 153.8 million units at the end of the forecast period. Over the next five years, the penetration of smart meters in the US will grow to reach a level of 84 percent while the respective figure for the more advanced Canadian market will reach 92 percent. “First-wave deployments will continue to grow robustly over the next several years and will to a large extent be driven by the launch of major new projects by late adopters in Northeastern US and Eastern Canada. Meanwhile, refreshment rounds for the early adopters have now gradually begun and will grow their share of annual shipment volumes from around 10 percent in 2020 to around 70 percent in 2025”, said Levi Ostling, smart metering analyst, Berg Insight. According to the study, yearly shipments of smart electricity meters in North America will grow from 9.8 million units in 2019 to 17.4 million units in 2025. The Covid-19 pandemic had a notable impact on deployments during 2020 with a year-over-year decrease of around 13 percent in annual shipment volumes. The market is however expected to recover in 2021 with forecasted shipment volumes of 10.7 million units. Along with the increase in smart meter refreshment projects, the development of smart metering technology in the North American market has in the last couple of years shifted focus to serving the demand of utilities which are to begin second-wave smart meter rollouts. These utilities are now looking to leverage their existing network canopies for a wider array of smart city applications beyond metering while also trying to figure out how to cope with the integration of the rapidly increasing number of electric vehicles and distributed energy resources into the grid infrastructure. “The race is now on among the top vendors to develop the most attractive use cases for second-wave smart metering technology. Increased computing power and edge analytics capabilities enable an entirely new set of benefits that are yet to be substantiated by the solution providers”, concluded Mr. Ostling.

The number of smart homes in Europe and North America will reach 179 million in 2024
According to a new research report from the IoT analyst firm Berg Insight, the number smart homes in Europe and North America reached 102.6 million in 2020. The most advanced smart home market is North America, having an installed base of 51.2 million smart homes at the end of the year. This represents a penetration rate of 35.6 percent. Between 2019 and 2020, the number of smart homes in North America grew by 18.7 percent year-on-year. The strong market growth is expected to continue in the next years. By 2024, Berg Insight estimates that close to 78 million homes in North America will be smart, meaning 53 percent of all homes in the region. The European market is still behind the North American, in terms of market penetration. There was a total of 51.4 million smart homes in Europe at the end of 2020. The installed base in the region is forecasted to exceed 100 million homes at the end of 2024, representing a market penetration of 42 percent. The Covid-19 pandemic has so far had a very limited negative effect on the smart home market in the two regions. While sales in brick-and-mortar stores declined, online sales instead surged. Many people spent more time at home during the pandemic and thus became interested in smart home products that improve their home. The most popular smart home products include smart thermostats, smart light bulbs, smart security cameras, smart door locks, smart plugs and smart speakers. These products, which combined has sold in the hundreds of millions, are marketed by incumbent OEMs such as Signify, Resideo, Danfoss, Belkin, Chamberlain, Kwikset and Assa Abloy and newer entrants such as Ecobee, Sonos, Arlo, Netatmo, IKEA and Wyze Labs. The market for whole-home systems is served by traditional home automation specialists, home security providers, telecom operators and DIY solution providers. On the North American market, interactive home security systems have emerged as the most common type of smart home systems. The largest home security providers include ADT, Vivint and Comcast. In Europe, traditional home automation systems and DIY solutions are more common as whole-home systems. eQ-3, Centrica, Deutsche Telekom and Somfy are estimated to be the largest vendors of whole-home systems in the region. “While connectivity is starting to become a standard feature in some home product categories, there is still a long way to go before all products in the home are connected and able to speak to each other”, says Martin Backman, Senior Analyst at Berg Insight. The market opportunity and growth potential in the smart home market are still enormous. Products and systems related to security and energy management have so far been the most successful as they provide a clear value for consumers. “Vendors of smart home products in other segments need to develop solutions where connectivity offers time savings, cost savings or other benefits that consumers are willing to pay a premium for”, concludes Mr. Backman. Participants in the smart home industry are now focusing increasingly on the software side of the solutions to develop compelling use cases. Ease of installation, integration with other IoT devices and security will remain key priorities for consumers.

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