Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 73

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4
Chunk 73
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 including more than 438 million commercial vehicles, increasing to 2.1 billion
total vehicles by 2032, including more than 544 million commercial vehicles. According to Frost & Sullivan and Berg Insight, approximately
26% and 16% of commercial vehicles in South Africa and Southeast Asia were equipped with telematics devices and services in 2023, which
suggest an underpenetrated market opportunity with significant growth runway. There is also a large global opportunity in video telematics
solutions that improve driver safety and reduce operating costs. According to Mordor Intelligence, the installed base of video telematics
is expected to grow from 9.74 million units in 2025 to 22.19 million units in 2030, a CAGR of 17.8%.
Additionally,
we are identifying new avenues of growth from our data analysis and monetization.

Our Growth Strategy

Our long-term growth is driven by five key factors:

Growth of OEM connected
devices. Our SaaS platform is device agnostic and we currently have agreements with more than 10 OEM platforms whereby we collect
vehicles diagnostic and safety data from the OEM telemetry devices. Increasing global access to these OEM devices will further drive demand
for our complementary solutions and services. Further, we conduct aftermarket installations in collaboration with OEMs.

Deeper insights from data
and platform. Our customers increasingly rely on our SaaS platform to optimize and manage their physical operations. In response
to this growing demand, we remain committed to ongoing innovation. We focus on improving and expanding platform and product capabilities,
and enhancing operational capacity to support growth across our target markets.

Global demand. We
are experiencing increased global demand for connected vehicles, devices, and mobility data, which supports our geographic expansion efforts.
Market penetration remains low to moderate across all regions, presenting a significant growth opportunity. We are focused on delivering
scalable, customer-centric solutions that provide rapid and measurable value to both enterprise and consumer customers.

New platform enhancements. We continue to expand our platform to address our customers’ most critical operational and business priorities. Our investments
in research and development focus on meeting customer expectations. Our product portfolio includes MiFleet, an intuitive administrative
and vehicle cost accounting solution, and Delivery, a mobile-enabled workforce management application. Delivery supports key business
processes such as stock control, electronic proof of delivery, invoicing, business intelligence, OEM integrations, job dispatch, and advanced
messaging through its routing capabilities.

Significant barriers to
entry