Lytx Inc., the San Diego-headquartered leader in video-based driver safety, said it turned in a year of stellar growth in 2015, thanks to key new client wins and existing clients expanding its DriveCam deployments.
Industry analysts Frost & Sullivan peg Lytx market share at 66 percent — four times that of the next nearest competitor, with share at 14 percent.
“Even though the commercial fleet video safety category is growing rapidly, Lytx and its DriveCam program have outpaced the rest of the industry, which is a testament to the strength of its service offering and experience in the field,” said Frost & Sullivan Research Manager Sathya K, whose report estimates Lytx market share to be at 66 percent.
Among key Lytx business achievements in 2015:
- 102,000 new subscriptions sold, bringing total subscriptions to more than 300,000
- 365 new companies adopted Lytx DriveCam programs
- Nearly half of existing clients expanded their fleet deployments
- Launched Lytx ActiveVision service, a comprehensive safety system to battle the $175 billion problem of distracted and drowsy driving
- 29th consecutive quarter of double-digit growth in subscriptions
- Booked contract value of nearly $200 million
- Continued to deliver to clients an average reduction in claims of $1,750 per vehicle annually plus additional savings in fuel consumption and maintenance due to safer driving habits, resulting initial return on investment in about 3 months, with an average 4X return on investment realized annually.
Lytx furthered its share of key commercial and public fleet categories in 2015, and now protects:
- 10 of the top 11 for-hire, less-than-truckload and truckload carriers
- Two of the top three transit companies
- Two of the largest propane distributor and top four industrial gas distribution companies
- 11 of the top 18 food products companies
- Seven of the top 12 waste, disposal and recycling companies
- Nine of the top 21 utilities companies
- Four of the top eight concrete companies
- Two of the largest railroad companies and the top three rail crew shuttle companies
- Seven of the largest cities and federal agencies.
In addition, Lytx continued enhancing its client list in 2015, adding 365 new clients. Among them are many top brands in commercial transportation, including:
- Swift Trucking
- Martin Transportation System
- Midland Transport
- Dean Foods
- Transport America
- Land O’Lakes
- Crete Carriers
- Vulcan Materials
- Dolese Bros.
- City of Atlanta
- Ecology Auto Parts
- HD Supply
- Mobile Mini
- Jacksonville Transportation Authority • City of Winter Park, Fla.
- City of Corpus Christi, Texas
- National Express (UK)
- Montgomery Transport (UK) • Peters Food Service (UK)
- Solstor (UK)