Market Overview; Statistics; Trends; Segmentation; Overview

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Market Overview

Our Total Commercial Market include large trucks, buses, off road equipment, airliners, trains, ships, and the control rooms of any Utility or manufacturing facility (process industries) where the potential cost of driver/operator fatigue can be deadly and expensive.

However we will prioritize a Target Market on the front end of our business efforts. We will concentrate on the heavy commercial truck industry, specifically what are known as Class 7 (26,001-33,000 pounds) & Class 8 trucks with weights in excess 33,000 pounds.

We have selected this segment simply because this is the area where due to weight and the long distance nature of their routes we find the highest rates of deadly accidents and therefore the highest cost to the industry.

From a geographical perspective our first entry to the Market will be in North America simply because of the ease of access. This is important as we will be involved in much additional field testing following our Sleep Research Program.

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Target Market Statistics

The statistical information provided in this section was taken from the Federal Motor Carrier Safety Administration’s (FMCSA) 2014 Guide to Large Truck and Bus Statistics in the USA.  These are the trucking statistics from 2012-2013 and the most recent reported by the FMCSA.

Total number of commercial Vehicle Drivers (CVD) registered by FMCSA is 5.6 million.

3.9 million have a commercial driver’s license (CDL) and drive Class 7 & Class 8 vehicles.

There were 8,190,286 single-unit trucks (straight trucks) registered. This is Classes 1-7.

There were 2,469,094 Class 8 combination trucks (tractor-trailers).

There were 764,509 buses.

There were 511,211 active interstate freight motor carriers in 2013.

There were 12,384 active interstate passenger carriers in 2013.

There were 15,438 active interstate hazardous material carriers in 2013

67.7% of all freight in the US is moved by truck.

New entrant safety audit success rate has declined from 99.52% to 80.14 %, 2009-2013.

In 2012 there were 367,000 non-fatal road accidents involving at least one large truck or bus.

In 2012 there were 3,802 fatalities where a least one large truck or bus was involved.

74.5% of these fatalities involved a Class 8 truck in 2012, 2,831.

280 of these crashes involved passenger buses.

Non-Fatal crashes increased 43% between 2009 and 2012 for large trucks.

The total cost of large truck and bus crashes, fatal, non-fatal, and property damage
only, increased from $82 billion to $99 billion from 2009 to 2012, a 20.7%
increase.

$40 billion of this was for fatal crashes.

$29.8 billion of this $40 billion cost incurred in fatal crashes was caused by Class 7 & Class 8 trucks, our Target Market.

Market Trends

Note in the statistics section that the total cost of fatal, non-fatal, and property damage only accidents with large trucks and buses was $99.0 billion in 2012.  These large trucks and buses are involved in the death of close to 4,000 people per year, which is of course more important than the financial impact.

The single most important Trend in the trucking industry is the increased attention to safety that is becoming standard practice with most carriers.

One of the industry’s answers to the need for increased safety is a paradigm shift in the application of Vehicle Telematics…defined as an interdisciplinary field encompassing telecommunications, vehicular technologies, road transportation, road safety, electrical engineering, computer science. This is the second most important trend which is setting up a paradigm shift in the industry towards automation and control.

At the present time these systems are focused on collecting statistical data relative to the operation of the vehicle and not the collection of physiological data on the driver. VitalMetric will enter the Market with the only system that uses touchless technology to collect important information on the condition of the driver and not the vehicle.

We will measure very small body movement via SIL Doppler radar and through sophisticated processing of this data provide the driver and/or a central control center pulse and respiration rates. Our software will measure this pulse/respiration data against a short term “Signature” representing the driver’s alert state and then inform the driver when they are becoming drowsy/fatigued and that it is no longer safe to operate the vehicle.

The driver will be motivated to respond in a positive manner to this information as a central control center (CCC) will be receiving the same information as the driver and in real time. If there is an accident the CCC will have this tracking information when determining the cause of the accident.

The third most important trend is the shortage of truck drivers.  This is not only a function of working conditions as some people imagine, it is also a result of the Federal Government curtailing the hours that a driver can work continuously.

Driving a long haul truck is a demanding trade and the industry does have options to deal with the problem of driver shortages outside of the regulatory sphere.  This is generally related to providing increased compensation to make the job more appealing. Of course this is not an easy step in a highly competitive industry such as long and short haul trucking.

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Market Segmentation

VitalMetric sees the Total Market as many segments differing in potential sales volume, awareness of the need for safety improvements, acceptance of third party Telematics solutions, and cost history of fatal, non-fatal, and property damage only accidents.  We have identified our Target Market as Class 7 and Class 8 Trucks because between them they account for over 80% of all fatal accidents involving large trucks and buses in the USA. There is readily available data from the Federal Government concerning the number and cost of accidents allowing us to estimate our potential volumes and to base good business decisions on this information.

We will continue to develop Market information on all of these segments as we focus our product development efforts on our Target Market.

  • Large trucks –Further segmented into Class 7 and Class 8 trucks, our Target Market
  • Buses
  • Off road equipment
  • Airliners
  • Trains
  • Ships
  • The control rooms of any Utility or manufacturing facility (process industries) where the potential cost of process control operator fatigue can be deadly and expensive.