New Data Shows Samsara Drives Cost-Savings Opportunities for Customers in First Year

Rhea-AI Summary

Samsara Inc. (NYSE: IOT) recently released data indicating significant cost savings for customers within their first year of adopting their Connected Operations Cloud. Key findings from a sample of over 395 customers include:
47% reduction in crashes, 40% decrease in idling, saving approximately $2,500 per vehicle annually, and a 20% improvement in vehicle utilization. This technology aids companies in managing rising costs due to inflation and fuel prices, making it a valuable resource for enhancing operational efficiency.

Positive

• 47% reduction in crashes, leading to significant safety and cost savings.
• 40% decrease in idling, translating to approximately $2,500 saved per vehicle annually.
• 20+% improvement in vehicle utilization, potentially increasing revenue per vehicle.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Samsara Inc. (“Samsara”) (NYSE: IOT), the pioneer of the Connected Operations Cloud, today released data that shows how it’s helping customers reduce costs within the first year of adoption. Headwinds like inflation and high fuel prices have led physical operations companies to prioritize cost savings. Samsara helps leaders navigate today’s challenges and its technology can act as a deflation enabler.

Samsara Data Insights (Graphic: Business Wire)

For this data report, Samsara evaluated hundreds of Logistics and Field Services customers with more than 793 million miles driven among them in the last year*. Benefits this sample customer cohort realized within their first year of Samsara adoption include:

• 47% reduction in crashes: Workplace safety is a top priority for many customers and reducing incidents is a particular concern. Customers with both Samsara Vehicle Telematics and Video-Based Safety solutions saw an even more dramatic decrease of 63%. This is a significant and immediate cost saving as an average crash can cost between $16,500 and $74,000, and even higher if there is a fatality.

• 40% decrease in idling: Fuel is a key cost for any organization that operates vehicles or equipment and can represent on average 60% of the total operating budget. Using telematics data from Samsara, customers can easily identify and coach drivers on fuel-wasting driving practices like idling. Assuming a price of $5 per gallon of fuel, this 40% decrease is equivalent to roughly $2,500 per vehicle saved in a year.

• 20+% improvement in vehicle utilization: The average fleet wastes up to about 10% of its annual budget, often due to underutilized assets and lost productivity. Samsara’s 20+% improvement can be a direct translation to revenue per vehicle, in addition to any new savings found by selling underutilized assets. These savings can then be reinvested back into the business.

“Leaders are under pressure to make every dollar count, and only want to invest in technology when it’s a clear win,” said Alexander Stevenson, general manager at Samsara. “Our study points to Samsara as an essential ingredient for smarter operations. We can quickly provide insights that increase productivity, cut costs, and help leaders navigate today’s challenges.”

To read the complete analysis of this data and gain additional insights, see here.

About the Data

Samsara’s Connected Operations Cloud collects more than 4.6 trillion sensor data points annually from IoT devices across diverse industries around the world. By organizing and analyzing these large volumes of data at scale—while taking the necessary measures to ensure complete customer privacy—Samsara reveals insights that customers can apply to their own organizations.

For more information about your rights, and how we may process your personal data, please see our privacy policy.

*Methodology notes:

• The statistics shown are based on anonymized historical data of 395 Samsara customers in Field Services and Logistics who operate in the United States and Canada.
• All customers selected for the sample customer cohort have more than 100 active devices (either Samsara’s Vehicle Telematics or Video-Based Safety solutions). The cohort has collectively traveled more than 793 million total miles in the last 12 months.
• Samsara analyzed the first 12 months of adoption for each customer, who all started using Samsara in 2018 or later. The percent improvement was calculated by comparing the average of the first three months and the average of the last three months of each customer’s first 12 months with Samsara.
• Comparisons of crash statistics were compared against the baseline measurement period and were detected by Samsara Vehicle Gateways.
• Utilization is defined as trip hours divided by total available vehicle hours in a given month. The available hours are calculated based on the number of active vehicles in a given month. This definition is also consistent with what is presented in the Samsara dashboard.
• Results depend on individual customers and are not guaranteed.

About Samsara

Samsara is the pioneer of the Connected Operations Cloud, which allows businesses that depend on physical operations to harness IoT (Internet of Things) data to develop actionable business insights and improve their operations. Samsara operates in North America and Europe and serves tens of thousands of customers across a wide range of industries including transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, and food and beverage. The company's mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220831005202/en/

Stephanie Burke

media@samsara.com

Source: Samsara

FAQ

What cost savings did Samsara report for customers in 2023?

Samsara reported a 47% reduction in crashes, a 40% decrease in idling, and a 20+% improvement in vehicle utilization for customers in 2023.

How does Samsara help companies reduce costs?

Samsara helps companies reduce costs by utilizing telematics data to improve safety, reduce idling, and enhance vehicle utilization.

What industries benefit from Samsara's technology?

Samsara serves various industries including transportation, logistics, construction, and healthcare through its Connected Operations Cloud.

What is the stock symbol for Samsara?

The stock symbol for Samsara is IOT.

What financial benefits have customers seen from using Samsara in their first year?

Customers have seen significant financial benefits, including reduced crash costs and fuel savings from decreased idling.