PowerFleet Launches Vista, an Advanced Vehicle Video Solution with AI Capabilities

Rhea-AI Summary

PowerFleet has announced the launch of Vista, an innovative in-vehicle video solution aimed at enhancing safety and efficiency in fleet management. Utilizing artificial intelligence, Vista analyzes risky driving behaviors, providing real-time high-definition video and alerts to improve safety protocols. This solution addresses increasing demands for vehicle safety technologies driven by the rise in accidents and insurance costs. Vista can be integrated into existing fleet systems and features live streaming, event notifications, and remote video access.

Positive

• Launch of Vista enhances PowerFleet's technology portfolio.
• Addresses growing demand for fleet safety solutions.
• Real-time video and alerts can reduce accidents and insurance costs.
• Easy integration with existing fleet management systems.

Negative

• None.

New Video Technology Enables Safer, More Efficient Commercial Vehicle Management

WOODCLIFF LAKE, N.J., June 22, 2021 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (Nasdaq: PWFL) a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing high-value enterprise assets, today announced the launch of Vista, a best-in-class in-vehicle video solution that leverages artificial intelligence (AI) to analyze and proactively manage risky driving situations across fleets. With Vista, PowerFleet is expanding its image technology portfolio, which includes the patent-pending LV-710 freight camera for trailers and containers and the CP4 System designed for the industrial truck market. 

The global demand for dashboard and 360-degree camera technology is growing due to a considerable rise in the number of vehicle related accidents, thefts, and “nuclear verdicts” (jury awards of more than $10 million) in the trucking industry. The National Highway Safety Administration (NTSA) reports that an estimated 38,680 deaths in motor vehicle traffic crashes in 2020. Up to 96% of all auto accidents are a result of human error, which further emphasizes the need for fleets to invest in technology to maintain the safety of drivers, pedestrians, and assets. 

Recorded video events provide additional contextual insights around hard braking and turning events, vehicle accidents as well as vehicle and content theft. Easy to install and operate, Vista delivers real-time, high-definition video from both road and driver facing cameras to bolster safety and training programs, help exonerate drivers, prevent accidents, and lower insurance costs. 

“We have seen strong demand from customers in our vertical and geographic markets for additional video solutions that provide visual proof to improve safety and operations,'' said Elizabeth Elkins, Chief Product Officer at PowerFleet. “As a leading IoT solutions provider, it made sense to add Vista to our portfolio of technology solutions focused on keeping drivers safe, protecting assets, and reducing insurance premiums. Whether you have a fleet of over-the-road trucks, cars or service and delivery vans, Vista can play a valuable part of a world-class safety program. The Vista video platform supports safe driving with the ability to auto-detect unsafe driving conditions while delivering real-time driver audio feedback and warnings to help correct risky driving behaviors as they occur.”

Vista is a flexible video solution that can operate stand-alone or as an integrated part of any fleet management system. It leverages the latest processor technology for edge-processing and future proofing and can be installed with minimal configuration. Vista wireless connectivity supports 4G LTE and has built-in Wi-Fi that supports auxiliary cameras for 360° views. Operations managers can stream live video, download video events, and access all cameras through a secure and comprehensive portal.  

Other key features include:

• Live streaming: check on the conditions of the road, cab and your assets at any time
• Real time drive alerting (in-cab feature): cameras will notify driver of safety events in real time
• Video history review: all videos on the SD card can be accessed remotely or locally at anytime
• Parking mode: cameras will record any events that occur following sudden jolts when the vehicle is turned off
• Event-based notifications: including harsh acceleration or braking, distracted driving traits, harsh cornering, speeding and more
  

To learn more, visit www.powerfleet.com/solutions/vista.

About PowerFleet
PowerFleet® Inc. (NASDAQ: PWFL; TASE: PWFL) is a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets. The company is headquartered in Woodcliff Lake, New Jersey, with offices located around the globe. PowerFleet’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. Our offerings are sold under the global brands PowerFleet, Pointer, and Cellocator. For more information, please visit www.powerfleet.com, the content of which does not form a part of this press release.

PowerFleet Company Contact
Ned Mavrommatis, CFO 
NMavrommatis@powerfleet.com
(201) 996-9000 

PowerFleet Investor Contact 
Matt Glover
Gateway Investor Relations
PWFL@gatewayir.com
(949) 574-3860

PowerFleet Media Contact
Sasha Dookhoo
powerfleet@n6a.com 

Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which may include information concerning our beliefs, plans, objectives, goals, expectations, strategies, anticipations, assumptions, estimates, intentions, future events, future revenues or performance, capital expenditures and other information that is not historical information. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties are detailed from time to time in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2020. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date they are made and are expressly qualified in their entirety by the cautionary statements included in this press release. Except as may be required by law, we undertake no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances occurring after the date they were made or to reflect the occurrence of unanticipated events, or otherwise.

 

FAQ

What is PowerFleet's stock symbol?

PowerFleet's stock symbol is PWFL.

What is the Vista technology launched by PowerFleet?

Vista is an AI-powered in-vehicle video solution that manages risky driving situations across fleets.

When was Vista launched by PowerFleet?

Vista was launched on June 22, 2021.

How does Vista improve fleet safety?

Vista provides real-time video, alerts for unsafe driving, and helps in training programs to improve safety.

What features does the Vista system include?

Key features include live streaming, real-time alerts, video history review, and event notifications.