SAN DIEGO, July 28, 2016 /PRNewswire/ -- SmartDrive Systems, a leader in driving performance solutions that reduce collisions and improve fuel efficiency, today announced record-setting growth in the second quarter and first half of 2016. The number of contracted SmartDrive units grew more than 80 percent year-over-year in Q2 and the Company achieved nearly 200% percent growth in the first half of the year as compared to the same period in 2015. These impressive results demonstrate accelerated market adoption of video-based safety solutions across transportation industry sectors and by fleets of every size.
SmartDrive attributes its continued trajectory to the broad appeal of its video analytics platform's technical power and flexibility. With new entrants into the video segment, SmartDrive's significant market expansion reinforces the value of its end-to-end managed service approach. Only SmartDrive enables fleets to choose the level of protection that fits their business needs and select camera configurations ranging from a single road-facing camera up to four cameras enabling a 360 degree view around the vehicle. By providing expert review, risk scoring, coaching prioritization based on driver risk, actionable performance metrics and KPIs that pinpoint areas for action, SmartDrive saves fleets time and delivers immediate results.
"The industry has clearly turned toward video as a key technology investment to support not only fleet safety, but also broader operational and compliance needs. We believe the entry of other providers is proof of the market's increasing interest. However, there are significant distinctions between the value of SmartDrive's advanced solution and that offered by companies adding basic cameras without intelligence to an existing system," stated Steve Mitgang, CEO of SmartDrive. "Our growth demonstrates fleets clearly understand the difference and are not compromising on capabilities—choosing a platform that offers technical innovation and maximum financial benefit."
Growing Roster of Fleets
Fleets of all sizes, operational profiles and transportation industry sectors are turning to SmartDrive's video-based analytics platform to improve safety, enhance operational efficiency, reduce fuel consumption and more. Among the notable recent additions to SmartDrive's client roster are the following:
- Administrative Services Cooperative (Yellow Cab) – taxi
- Bulldog Hiway Express (Daeske Group) – open deck operations & heavy haul
- Dade Paper – foodservice disposables distribution
- JD Billy Hines – regional customized hauling
- Lone Star Transportation (Daeske Group) – specialized over-dimensional carrier
- Los Angeles County Metropolitan Transportation Authority – transit (bus and rail)
- O&G Industries – construction services
- R.E. Garrison Trucking – owner-operator reliant truckload to 3PL
- Royal Trucking – for-hire dry van, flatbed and specialized carrier
In addition to record-setting corporate growth metrics, SmartDrive achieved a number of other milestones during the second quarter, such as:
- In the United Kingdom, SmartDrive renewed existing customers and expanded installation at Reynolds Catering Supplies and Ocado, as well as significantly progressed the ongoing fleet roll-out at Turners (Soham) Ltd.
- The Company was awarded a new patent for innovative triggering that detects high risk maneuvers in rail operation, enhancing its SmartDrive Rail product line
- In recognition of its growth trajectory and benefits to the regional economy and workforce, SmartDrive was named one of San Diego's best places to work for the second straight year and among its fastest growing companies
"As the process of narrowing our selection of onboard camera vendors was finalizing, the SmartDrive product stood apart. The single feature that put them in the lead was real-time access to view a video event rather than having to wait up to 24 hours. Another option we liked was the ability to add cameras to the road-facing only camera we deployed, should we ever decide to do so," remarked Jeff Cooney, vice president of safety, Lone Star Transportation. "Once the decision was made to go forward with SmartDrive, the customer support, user training and ability to have questions answered almost immediately have been nothing short of fantastic."
"The positive effect that SmartDrive and the addition of video safety have had on our company culture has come as an added bonus," noted Mike Farring, corporate safety manager at O&G. "Initially, we assumed the benefits would be limited to video and the associated data. However, the level of engagement as a result of the open communication and focused coaching sessions has generated a positive shift that we value and will continue to cultivate."
About SmartDrive Systems
SmartDrive Systems, the recipient of Frost & Sullivan's Customer Value Leadership Award for Video Safety Solutions, gives fleets and drivers unprecedented driving performance insight and analysis, helping save fuel, expenses and lives. Its video analysis, predictive analytics and personalized performance program help fleets improve driving skills, lower operating costs and deliver significant ROI. With an easy-to-use managed service, fleets and drivers can access and self-manage driving performance anytime, anywhere. The Company, which is ranked as one of the fastest growing companies by Deloitte's Technology Fast 500™, has compiled the world's largest storehouse of more than 140 million analyzed risky-driving events. SmartDrive Systems is based in San Diego, Calif., and employs over 500 people worldwide.
For more information on SmartDrive Systems, please visit www.smartdrive.net.
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SOURCE SmartDrive Systems