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PowerFleet, Inc. (PWFL) stock growth is driven by new vehicle camcorders

 PowerFleet, Inc. (NASDAQ: PWFL), a provider of IoT and M2M solutions for cars, recently introduced a new video communication system for cars. PowerFleet, Inc. (PWFL) expects to see further growth in sales of such systems as the market for such systems is growing rapidly.

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The company has introduced the Vista hardware and software suite, which includes the LV-710 camcorder for trailers and containers, as well as the AI-based Control Unit.

It is in fact a smart video recorder that captures the traffic situation and records the location and dynamics of traffic at the same time. It is accessible through a web service and allows you to control the operation of the fleet of vehicles.

The number of accidents and cases of theft of goods from trailers is increasing and with it the demand for 360-degree vision systems for vehicles. To reduce liability and insurance costs, carriers are investing in new monitoring tools.

Automatic unsafe driving algorithms in PowerFleet Vista help prevent accidents by correcting unsafe driving behavior.

Vista supports all the modern technologies required by such systems, including wireless communication, a built-in Wi-Fi modem, support for 4G mobile networks, and the ability to connect up to two additional cameras to create a 360-degree view. PowerFleet’s Vista’s flexibility and performance allow it to increase its market share in fast-growing markets.

PowerFleet, Inc. (PWFL) share price was $7.38 after a recent close on Monday, June 28. PWFL market capitalization reached $256.09 million.

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