Tue, 12/06/2022 - 09:35
Tue, 12/06/2022 - 09:12

By Joe Dysart

AI transcription of video meetings has gotten so good, many workers have completely abandoned the idea of taking notes during meetings, entrusting that task—and more—to artificial intelligence.

“In the age of remote meetings, classes, and events, keeping track of meetings can be tricky,” says Chang Chen, head of growth and marketing, Otter.ai, a popular AI-powered video meeting transcriber.

Web

With AI-powered transcribers, making a text record of a video meeting—including adding notes, commentary, questions, still images and more—is a snap.

“People struggle to keep up with the conversation while taking notes, and it’s absolutely important to capture the information and make it instantly available to everyone,” Chen says.

Adds Brian Lynch, president, SteelEye Americas, a maker of an AI transcriber. “We are already seeing tier-one firms investing in advanced and real-time transcription as a priority.”

Going far beyond transcribing simply what’s being said at meetings, many AI-powered transcribers now also enable users to add commentary—on-the-fly—to the meeting record, as well as emojis, questions and similar edits.

Moreover, some apps also enable you to perform significant edits to a meeting transcript after the close of a meeting, offering one-touch addition of a slide, image or similar graphic anywhere in the transcription text, meeting summaries, meeting highlights and more.

And most software makers in the space also pre-configure their apps to integrate seamlessly with popular video meeting applications, including Zoom, Microsoft Teams, Google Meet and Webex.

Granted, no auto-transcriber of any kind right now—AI-powered or otherwise—can claim 100% accuracy. Even many humans are not that good.

But many of these AI-powered solution makers are asserting that their transcriptions of video meetings are 99% accurate.

That’s not bad if you’d rather focus entirely on a meeting rather than trying to scribble down everything you’re hearing and thinking about what’s going on.

Essentially, AI transcribers are automating virtually every aspect of creating, working with and enhancing meeting transcriptions that people used to take by hand.

And additional new features for these solutions just keep coming—thanks to fierce competition among video meeting transcriber app makers.

Key apps to evaluate include Otter.ai, Descript, Dubber, Fathom, Interprefy, Amazon Transcribe, Nuance, IBM Watson, Transcribeme, Verbit.ai, Sonix, Voicea, QNAP and Trint.

As with most apps in a hyper-competitive genre, there’s an excellent chance you’ll be able to find one that’s perfect for you.

Overall, here are the features to look for in a best-of-breed video meeting transcriber:

Live Transcription On-the-Fly: Incredibly, many AI-powered meeting transcribers now stream a live text transcription of a meeting in progress. This voice-to-text feature is great for people who may have missed something, people who have arrived late to a meeting or people who are having a problem understanding the voice of a specific person.

Live Transcription Editing, On-the-Fly: With live transcription often standard with today’s meeting transcribers, it makes sense that many offer real-time editing of a transcript of a meeting in progress.

With many solutions sporting this optimization, you can mark certain statements as ‘action items’ to follow-up on, type in questions in response to what’s being said, or mark moments in the transcript you plan to revisit after the meeting’s over.

Body Language Analysis On-the-Fly: Perfect for people who never attended the meeting, this feature enables AI to study the gazes, body language and facial expressions of people attending a video meeting and then embed the meaning of those movements into the transcript.

A thumbs-up at a meeting, for example, translates to a thumbs-up emoji in the transcript. And a bored look translates into a bored-look emoji.

Add Real-Time Human Translators: Some AI-driven transcribers are also designed to port picture-in-picture feeds of human translators or human sign-
language specialists into a meeting video. This feature enables you to broadcast a meeting in as many languages as you wish—in real-time.

Bookmarking: No more trying to remember where in the video a salient point popped up during a meeting that you want to remember. With many solutions, you can simply create a timestamp bookmark of a moment of a meeting you want to revisit—with a simple click.

Meeting Summaries: Given that AI summary technology is already so well developed, it’s no surprise that many AI meeting transcribers offer text summaries of meetings within minutes of a meeting’s conclusion.

After-Meeting-Transcript Editing: The same transcript editing actions you can perform while a meeting is in progress can also be used to enhance a transcript after the meeting’s over, including adding questions, commentary, marking action items and the like.

The same keyword feature also enables you to auto-add a slide, screenshot or other image at any point in the transcript with a single click.

Search-by-Keyword: Many solutions automatically generate a list of keywords you can use to search for statements and concepts discussed at the meeting, bringing you to specific points in the transcript where those search terms are discussed—and also enabling you to call-up the corresponding audio that generated those insights.

Plug-and-Play Integration: Many solutions are pre-configured to work seamlessly with popular software apps and platforms including Slack, Asana, Jira, Salesforce and Hubspot. With some solutions, distributing a meeting transcript on a Slack channel, for example, takes only a click or two.

Auto-Sync With Popular Calendars: With many auto-transcribers, the transcription of a meeting will start automatically as long as you schedule the meeting using popular calendar software from Google or Microsoft.

Query the Transcript for Info: On the horizon, some AI developers hope to embed additional tools in transcription software that will enable you to query the stored transcript of a meeting with specific questions you have about topics discussed.

Free: In some cases, some high-powered AI transcription solutions are actually free. The logic: The app makers are looking to grow the popularity of their apps very quickly by offering an exciting product—and then start charging users looking to add premium features.

Joe Dysart is an internet speaker and business consultant based in Manhattan.

646-233-4089

joe@customtechadvisor.com

www.dysartnewsfeatures.com

Tue, 12/06/2022 - 09:04

By Douglas McColloch

Industry InsiderAt age 17, Duran Morley was involved in a high-speed motorcycle accident. “My motorcycle caught fire,” he said. “I’m lucky to be alive.”

While convalescing, Morley spent time watching YouTube videos on Sprinter Van conversions. Upon recovery, his “obsessive passion” became a business when, at 18, he opened the The Van Mart in a 1,000-sq.-ft. warehouse in Huntington Beach, California. Now 22, he operates a 22,000-sq.-ft. facility in nearby Westminster that customizes an average of five to seven adventure vans per month. Additionally, his Van Speed online store offers branded parts such as bumpers, roof racks and side steps for the adventure van market. His accomplishments caught our notice to the extent that he was named one of SEMA News’ “35 Under 35” for 2021.

We spent some time at Morley’s shop to learn more about this fast-growing segment, and to find out more about the person behind its success.

SEMA News: What’s your latest personal project? What’s in your home garage?

Duran Morley: Right now I’m working on a ’69 Corvair that’s on a Jeep chassis, so its 4WD, and I’m making some changes to it along with my dad.

SN: Adventure vans have gained in popularity over the past couple of years, but it’s still a “niche” market. What inspired you to “take the plunge” and invest in this kind of business?

DM: Growing up, I always had a van. It’s the best way to get from point A to point B if you’re into motorcycles, or surfing, or snowboarding or camping. For me, it wasn’t the build aspect that attracted me as much as it was where the van can take you.

SN: Who is your typical customer, and what are his/her expectations when they first walk into your shop?

DM: Our customers range all over the place, but our biggest share are recent empty nesters, people in their 50s who want to travel more but who don’t want a 50-ft. motorhome.

SN: To folks who are new to overlanding, what advice would you give them?

DM: A lot of our customers do their own research for six months or more, so they have a pretty clear idea of what they want to do. For the rest, I’d say the best way to go about it is, don’t overthink it. Rent a van or a truck at first. There are companies like Outdoorsy or Alt Camp that can supply you with a rental for a weekend trip. It’s a lot cheaper to rent a vehicle than to buy a fully outfitted van and find out later that it’s not what you really need.

SN: Have rising fuel prices had any kind of impact on your business?

DM: Most of our customers are from California, so for them, a $.30–$.40 increase in gas prices doesn’t affect them all that much, so we haven’t noticed a difference yet.

SN: You were involved in a serious motorcycle accident at age 17, and spent months recovering from it. What lessons did you learn from the experience?

DM: You’ve probably heard this a million times before, but live every day like it’s your last.

SN: Are there any builders or mentors out there who have helped you along the way?

DM: Over the years I’ve worked for a lot of great people, starting with Jerry Zaiden from Camburg Engineering. It’s the place where I learned how to weld, which inspired me to get a welder in my garage when I was 14, to hook up a 220 plug and get to work. Roland Sands at Sands Design taught me a lot about design and engineering. It was great working for him.

SN: What’s your daily driver, and what do you like best about it?

DM: Realistically, my daily driver ends up being whatever van is on the lot. What I like about is, every day is a little different—but there’s noting like having a van to run errands, or to go surf in the morning and drive to work afterward.

SN: If you went back to school, what would you study?

DM: Industrial engineering and design because I love having the ability to design your own parts—the ability get your ideas on a piece of paper that someone else can understand.

SN: Where do you see your business going five to 10 years from now?

DM: We’re definitely focused on growing the recreational part of it, RV conversions for instance. We also have a commercial division that we’re looking to grow as well to help plumbers, electricians and contractors keep their tools securely stored.

SN: What’s your dream backcountry adventure? What would you drive, where would you go, and who would you take with you?

DM: Of course, it has to be a van! For me, I’d love to take a trip from Alaska all the way down to South America, and I’d probably go with my brothers because we all love to surf and we’ve all got motorcycles. It would be a dream come true.

Mon, 12/05/2022 - 13:15

Compiled by SEMA Editors

SEMA News highlights new products from industry companies when available. To have your product considered for upcoming issues, send product press releases to editors@sema.org.

EGR USA
Fender Flares
EGR

EGR USA, announced that it no offers easy-to-install fender flares for the budget conscious. Manufactured to OEM quality from ABS material and CNC robotically trimmed for a precise fit, BASELINE Fender Flares are available in two attractive styles—standard or bolt-style.

Both style flares are designed with a textured black finish to closely match the truck’s original-equipment accent pieces, and are available for late-model Ram, Chevy Silverado, Ford F-150, Ford Ranger and Toyota trucks.

Aeromotive Inc.
In-Tank Brushless Pumps for ’11–’20 Ford Mustangs
Aeromotive Inc.

Aeromotive has released Direct Drop-In Brushless Pump Modules for S197 and S550 Ford Mustangs. The company now offers Brushless A1000, Brushless Eliminator, Brushless 3.5 and Brushless 5.0 GPM pumps that are direct drop-in modules for the OEM tank.

MAHLE Motorsport
Ford 5.0L Modular Coyote Gen 3 Direct Injected PowerPak Piston Set
MAHLE Motorsport

MAHLE Motorsport introduced its new Ford 5.0L, Modular Coyote PowerPak Piston set for ’18-plus engines. The piston set is designed to lower the compression ratio to 10.4 to 1 to allow for power adders for those that want to build a high-horsepower Coyote build.

The pistons are dual coated with phosphate and MAHLE’s proprietary GRAFAL coating for reduced drag and wear. This set features hard anodized top ring grooves for maximum durability for extreme-duty applications and comes complete with a 1.0mm and 2.0mm file fit performance ring set, and 0.177 wall pins each weighing 118 grams. The piston compression height is 1.167 and weighs 383 grams. The slipper skirt forged piston set utilizes a low-silicon 2618 alloy for high-load, high-stress applications.

MagnaFlow
xFrame Racing Simulator Cockpit
MagnaFlow

The xFrame Racing Simulator Cockpit leverages the engineering principles used in automotive roll cage design to create a rigid spaceframe built from stainless-steel tubing and machined couplings. This helps xFrame fight chassis flex, keeping your steering crisp, your pedals in place, and your focus on racing. Take realism to the next level with maximum rigidity and a closed cockpit design.

Mishimoto
Carbon Fiber Intercooler
Mishimoto

Mishimoto released a completely customizable Carbon Fiber Intercooler with more than 280 configuration options. The universal intercooler comes in three different core sizes and is offered in a silver, black or gold finish. The end tanks are formed from solid 3K twill-woven prepreg carbon fiber and are offered in both matte- and gloss-finish options. Packed with universal M8 mounting bosses on either side of the core and 3-inch inlets optimized for flow, the intercooler is built to handle up to 950 hp and 30 PSI of boost.

KBS Coatings
Ultimate Frame Coater Kit for Inside-Out Rust Protection
KBS Coatings

The KBS Coatings Ultimate Frame Coater easy-to-use DIY kit employs the KBS 3-Step System combined with KBS Cavity Coater to prepare and coat up to 50 sq. ft. of metal. KBS Klean, a non-toxic and biodegradable super cleaner removes dirt, grease, grime and other contaminants.

Next, water-based and biodegradable RustBlast effectively dissolves rust and corrosion while etching metal for best adhesion of KBS RustSeal. RustBlast also leaves a zinc phosphate coating to stop flash rust from forming. The third step is RustSeal, a rust-inhibitive and preventative paint that’s applied by brush, roller or spray gun. RustSeal chemically bonds to metal, including rusted metal, to isolate it from moisture and oxygen. Without those present metal can’t rust. RustSeal comes in 11 colors and flows out to provide a beautiful, smooth finish that resembles a powder coat. RustSeal provides a flexible, yet rock-hard barrier that’s extremely resistant to abrasion and impact.

Mon, 12/05/2022 - 12:49

By Juan Torres

Journalists who would like to schedule meetings with manufacturers of racing and performance products to get detailed information about new products and the latest industry trends—free of charge—need to register before December 16, 2022.

 

MPMC Media Trade Conference Returns In-Person in 2023

Media can build lasting relationships and connect with up to 42 manufacturers (14 each day) in quality meetings.

Taking place in person on January 24–26, 2023, at the Embassy Suites Anaheim South in Garden Grove, California, the Media Trade Conference is the best way for editors, writers, producers, podcasters, content creators and social-media influencers to build relationships with motorsports parts manufacturers and obtain a year’s worth of editorial content.

By registering now for all three days, media can build lasting relationships and connect with up to 42 manufacturers (14 each day) in quality meetings.

For questions or more information, click here or contact Juan Torres at juant@sema.org.

Thu, 12/01/2022 - 22:55

SEMA News—December 2022

LEGISLATIVE AND TECHNICAL AFFAIRS

SEMA Members Advocate for the Industry at Washington Rally

By Eric Snyder

Capito

U.S. Senator Shelley Moore Capito (center, R-WV) addressed attendees at the 2022 SEMA Washington Rally.

More than 100 SEMA members descended on the nation’s capital to participate in SEMA’s 2022 Washington Rally in September. Industry leaders took to the halls of Congress to remind lawmakers of the cultural and economic importance of the automotive specialty-equipment industry and motorsports.

During the event, SEMA members urged Congress to pass H.R. 3281/S. 2736, the Recognizing the Protection of Motorsports (RPM) Act. The bipartisan bill would protect Americans’ right to modify street vehicles into dedicated race cars and the industry’s right to sell the parts that enable racers to compete. Members also raised awareness for other issues facing the industry, including the REPAIR Act, which protects the right to modify and repair vehicles, and legislation that protects and expands motorized access to public lands. Additionally, SEMA members educated their lawmakers about the need to allow consumers to choose whether they purchase an internal-combustion-powered vehicle or an electric vehicle rather than the government.

Norris

Norris Marshall (left) of BluePrint Engines and U.S. Rep. Mike Flood (R-NE) inside the U.S. Capitol rotunda.

“I thank the SEMA members who took time away from their businesses to come to Washington to meet with their lawmakers about the issues that matter most to our industry,” said SEMA President and CEO Mike Spagnola. “SEMA members are passionate and incredibly skilled at advocating for the industry, educating our elected leaders in Congress about the important role that automotive aftermarket businesses play in creating jobs in communities around the country.”

Between meetings, SEMA members took a break for lunch at the Reserve Officers Club where they received a behind-the-scenes update on what’s happening in Congress from two of SEMA’s biggest allies in Washington, U.S. Senator Shelley Moore Capito (R-WV) and U.S. Representative Ted Budd (R-NC). After a full day of meetings on Capitol Hill, SEMA members enjoyed a reception and dinner at the Waldorf Astoria, which featured a keynote address from U.S. Representative Norma Torres (D-CA).

DC Rally

Melanie White (left) of Hellwig Products, Kyle Fickler (second left) of Driven Racing Oil, Tim Martin (second right) of Aftermarket Advisors, and Kathryn Reinhardt at the Washington Rally PAC reception.

This year’s Washington Rally marked the 16th time representatives from SEMA have held a fly-in on Capitol Hill. The event raises SEMA’s profile in Washington, D.C., and plays a pivotal role in the association’s advocacy efforts in Congress.

SEMA members who couldn’t make it to the Rally can get involved by hosting their members of Congress at their business. To learn more, email Eric Snyder at erics@sema.org.

Wade
Wade Kawasaki Named Executive Director of SEMA and PRI Political Action Committees

The SEMA Board of Directors appointed industry veteran Wade Kawasaki to serve as the first executive director of SEMA’s and PRI’s respective political action committees (PAC). In this new volunteer role, Kawasaki will oversee each PAC’s Board of Directors and fundraising efforts, reporting to the SEMA Board of Directors.

By law, SEMA and PRI may not use their funds to contribute to federal political candidates. However, each organization’s PAC allows its members to contribute personal funds, which are used to help elect lawmakers who support its positions and initiatives.

“The specialty automotive aftermarket and racing industries are facing an uncertain future due to unparalleled government threats,” said SEMA Board Chairman James Lawrence. “SEMA and PRI believe clean air can co-exist with the automotive performance hobby and racing. Unfortunately, government bureaucrats want to restrict grassroots racing, make it burdensome to comply with emissions laws, and ban internal-combustion engines. We need to be prepared to defend the millions of automotive enthusiasts out there, and the best way to do that is through PACs that help elect lawmakers who value our hobby and the $50+ billion industry.”

Prior to his appointment as executive director of SEMA’s and PRI’s PACs, Kawasaki served as the president and CEO of Legendary Companies, overseeing 12 brands and operating six companies, including Coker Tire. He previously served multiple terms on SEMA’s Board of Directors, including as its chairman from 2017–2019, and was inducted into the SEMA Hall of Fame in 2013.

“Advocating on behalf of the aftermarket industry is at the very core of what SEMA does,” said SEMA CEO Mike Spagnola. “I’ve known Wade for more than 20 years. I’m thrilled to have somebody of his caliber helping to take SEMA’s PAC to the next level.”

“A strong PRI PAC is the best way to ensure racing’s future is free from government overreach. We have to have the means to fight back,” said PRI President Dr. Jamie Meyer. “I look forward to working with Wade to grow PRI’s influence in Washington.”

For more information, contact Samantha Large at samanthal@sema.org.

DC Rally

James Lawrence (left) of Power Automedia and Wade Kawasaki (center) of Car Guy Adventures greet U.S. Rep. Norma Torres (D-CA).

Rep Budd

U.S. Rep. Ted Budd (R-NC) presents John Hotchkis (left) of Hotchkis Sport Suspension with an American flag flown over the U.S. Capitol Building.

Rep Cleaver

Bob Moore (left) of Bob Moore & Partners and Rich Butler of R&R Marketing Consultants (right) met with U.S. Rep. Emanuel Cleaver (D-MO) during the 2022 Washington Rally.

Rick Scott

From left: Michael Essex of MotorTrend Group, John Viscardo of Viscardo Enterprises, U.S. Senator Rick Scott (R-FL), Sofia Morreale of The Tuning School, Bob Morreale of The Tuning School and Rob Fisher of E3 Spark Plugs.

Sen. Braun

From left: U.S. Senator Mike Braun (R-IN), Eric Snyder from SEMA, James Lawrence of Power Automedia, Dr. Jamie Meyer of PRI, and Lindsay Hubley of Lodestone Events.

Thu, 12/01/2022 - 21:44

 

SEMA News—December 2022

SEMA DATA

By Gigi Ho

SEMA Data Product News

The products featured below are from SEMA Data member companies that have attained Gold- or Platinum-level data, which means that their product data is robust and complete—likely to drive customer purchase decisions. SEMA Data members meeting data scorecard requirements are invited to submit product releases for consideration to enews@semadatacoop.org.

Blue Ox
Gate King
Kelford
Blue Ox

Acclaim Class III Tow Bar
The Acclaim Class III Tow Bar is virtually maintenance-free with Signature Series easy-release locking handles and protective rubber boots. It can tow vehicles up to 5,000 lbs. and is constructed with solid steel. Requires a 2-in. ball and safety cables are included. Easy-folding, self-aligning, self-storing tow bar mounts to vehicle base plate. Automatically locks into towing position. Detaches with only two pins. Weighs only 35 lbs. Three-year warranty.

Information: www.blueoxtowbars.com

PN: BX4330

Castel Gate King

’05–’10 for Toyota Tacoma

The Castel Gate King comes as a set of two. The patented Tailgate Adjuster System adjusts in eight different positions. Gate King uses existing bolt holes so no drilling is required. Installation is simple and can be done in minutes. Fixed mounting bolts act as a tailgate-theft deterrent. Compatible with most major truck brands. Gate King will not work with most aftermarket slow-release bars. The Gate King claims to be the only truck accessory that gives you full use of your tailgate. Built with Gate King’s patented Tailgate Adjuster technology, it gives every truck owner the ability to adjust their tailgate in a multitude of positions. Designed in California and made in the U.S.A.

Information: www.thegateking.com

PN: 370718

Kelford

Adjustable Cam Gears

Pair of adjustable cam gears to suit Mitsubishi 4G63 DOHC engines. CNC-machined from highest-quality 6061 T6 aluminum to more precise tolerances than original OEM gears. The tooth edges have been beveled to increase belt life and then hard-anodized to ensure strength and longevity. Precise degree markings are laser-etched onto the cam gear to assist in the tuning of engines. High-quality fasteners and a heli-coil thread insert in the ring gear allow enough torque to be applied while tightening fasteners.

Information: www.kelfordcams.com

PN: KCG63

Thu, 12/01/2022 - 21:18

SEMA News—December 2022

SEMA IN THE MEDIA

Required Reading

Key Business Opportunities

By Juan Torres

According to recent research by SEMA, 49% of all late-model pickups are modified with specialty-equipment parts. The finding was detailed in the “2022 SEMA Pickup Accessorization Report,” which provides a comprehensive review of how the pickup accessorization landscape is evolving.

Additional findings from the report include:

  • Pickup owners spent $16 billion on specialty-equipment parts in 2021.
  • Of the 29 million late-model (’10 and newer) pickups on the road, nearly half of them are modified.
  • 62% of late-model pickup accessorizers buy off-road-focused parts for their truck, and 84% of accessorizers plan to make additional modifications in the near future.

Download the “2022 SEMA Pickup Accessorization Report” at www.sema.org/research. The following are some of the publications that reported on the research.

Jobber Nation

Jobber Nation

Jobber Nation, a Canadian publication for automotive aftermarket wholesale and distribution professionals, pointed out that the report covers how the pickup segment has evolved, including sales forecasts and types of accessory parts pickup owners buy and how they buy them. It also encouraged its readers to attend SEMA’s webinar related to the report.


Rubber News

Rubber News

“For many Americans, owning a fullsize pickup is a lifestyle choice,” wrote editor Kathy McCarron in her in-depth article on the report’s findings. She informed readers that off-road and oversize tires topped the list of product categories purchased in 2021, followed by suspension products and maintenance oils/additives.”


Tire Business

Tire Business

“Customization has become a key reason why consumers like owning pickups, and aftermarket sales show it to be true,” read the opinion piece by Tire Business editors, who also stated that this might be a good time for tire dealers to reset and educate their sales team so they can establish longtime business relationships.”

HEARD ON SOCIAL MEDIA

“Refit and Refined: 49 percent of newer pickups are modified with specialty parts, says SEMA report.”—Collision Repair Magazine, via Facebook

“Don’t miss this FREE online event! Webinar: Understanding the pickup market.”The Hog Ring, via Facebook

“Forty-nine percent of all late-model pickups are modified with specialty-equipment parts, according to a new SEMA report. Find out how the pickup accessorization landscape is evolving.”Aftermarket Matters, via Twitter

“New ‘2022 SEMA Pickup Accessorization Report’ available now at www.sema.org/research. New research finds that 49% of all late-model pickups are modified with specialty-equipment parts.”Motor Sports NewsWire, via Facebook.

Thu, 12/01/2022 - 21:06

SEMA News—December 2022

MARKET RESEARCH SNAPSHOT

Who Are Accessorizers

By SEMA Market Research

Accessorizors

In 2021, approximately 54% of accessorizers were under the age of 40. Accessorizers skew young, who are also more likely to be “true enthusiasts.”

Last year was a record year for the specialty-equipment industry, with U.S. retail sales hitting $50.9 billion for the first time. But who are accessorizers? Accessorizers skew young. In 2021, more than half were under 40. Younger accessorizers are more likely to be enthusiasts and tend to make more complex modifications. Accessorizers are also more likely to own pickups, SUVs and sports cars than non-accessorizers. Pickup parts remain big business for our industry and accounted for 31% of retail sales in 2021. Accessorizers are also almost twice as likely to own recreational or offroad equipment as non-accessorizers.

Accessorizors

Accessorizers are more likely to own pickups, SUVs and sports cars than non-accessorizers. CUVs tend to be more common among non-accessorizers.

Accessorizors

Accessorizers in the United States are almost twice as likely as the rest of the population to own recreational or off-road equipment, especially RVs, ATVs and motorboats.

For more information, download the “Classic Cars, Modern Market” report at www.sema.org/research.

Thu, 12/01/2022 - 20:48

SEMA News—December 2022

BUSINESS

Adventure Vans

A New Overlanding Market Takes Root

By Douglas McColloch

Adventure Vans

A new player in the overlanding segment, adventure vans can be built for any use, whether it’s easy pavement travel or more strenuous off-road activity. Photo credit: Shutterstock.com

It’s no secret that overlanding has been one of the fastest-growing segments in the automotive aftermarket, and as it has gained popularity over time, the market has diversified. This can be seen in the types of vehicles employed as build platforms. Once dominated by midsize Toyotas, the overlanding segment has grown to include Jeeps and, increasingly, fullsize HD pickups with their superior load-carrying capability.

Now, yet another vehicle type has entered the sector, and it has ushered a new generation of backcountry enthusiasts into the pastime of overlanding. Known alternatively as adventure vans, camper vans or, occasionally, “glamper” vans, these vehicles represent a fast-growing segment of the overlanding market and offer a potential new revenue stream for aftermarket outfitters looking to partner with existing van builders, for established coach builders looking to diversify their product lineups, or for startups looking to capitalize on new opportunities in a fresh market.

For the purposes of this article, vehicles referred to as “adventure vans” generally fall into the category of Class B motorhomes. They are smaller in size—typically 17–23 ft. in length—and generally less luxuriously apportioned than the more expansive Class A and C motorhomes manufactured by companies such as Winnebago and Thor Motor Coach. Also, unlike their larger counterparts, they utilize existing OE light-truck chassis and bodywork, making them a more attractive alternative for consumers on a budget. They’re also more economical to own, thanks to better fuel economy, and their smaller size makes them easier to maneuver and park.

In the North American market, the preferred platforms for these vehicles are typically 1-ton Ford Transit, RAM Pro Master or, most commonly, Mercedes Sprinter chassis, all offering all-wheel drive as the standard drive configuration, and base prices for these vehicles in stock (unmodified) trim start in the $45,000 range. Fully equipped, an outback-ready unit can list for six figures, so this segment represents a potentially lucrative source of income for businesses in the specialty-equipment market.

The State of The Market

Whatever their classification, RV sales are at an all-time high. According to a 2021 manufacturer survey conducted by the RV Industry Association, an industry record 600,240 wholesale shipments were recorded in 2021, an increase of nearly 20% since 2017. At present, the adventure van segment alone represents a $16.8 billion global market, a figure that is forecast to reach $24.8 billion by 2027, according to a 2022 survey from Marketwatch.

“The adventure van market continues to grow rapidly,” said Scott Brady, publisher of Overland Journal, “but the primary markers of success are differentiating features, unique manufacturing processes, or improvements to backcountry performance. Van builders that are creating a unique offering or a performance advantage are continuing to garner long lead-times and full production schedules.”

“The market has seen rapid growth over the recent five years, with new builders coming online almost every month,” said Eric Miller, co-funder of TouRig, a Colorado-based van conversion company. “We’re seeing new accessory companies introducing new product innovations that are directly catered towards the Adventure Van consumer. We are also seeing very nice cross-pollination with the outdoor industry, something that for years was somewhat a controversial subject.”

“It’s my understanding that Class Bs are the fastest-growing segment of the RV market,” said Neil Morse, owner/promoter of the nationwide Adventure Van Expo series. “We still have tons of new people coming to our shows that have never seen them.”

“It’s a market that’s really been growing the last few years here,” said Oliver Bahr, president for the Americas with Dometic, a manufacturer of products for the adventure-lifestyle market. “The van market has really been growing well for us.”

How well? “When we entered the market in 2014, there were somewhere around 10 to 12 real players in the space, excluding the behemoth RV brands,” Miller recalled. “Today, there could be as many as 150-plus builders contributing to the adventure van space.”

Adventure Vans

Besides having the capability to transport their owners to remote areas, adventure vans can also offer all the comforts of home—it all depends on what buyers want, and the size of their budget. Photo courtesy: Tourig

Who They Are

According to our experts, adventure van owners tend to differ from conventional RV owners by their desire to travel further afield than what’s allowed by a bigger, bulkier Class A motorhome. “All-wheel-drive vans allow access to more remote campsites, hiking trails and similar points of interest,” said Brady. “Adventure vans tend to correlate with hikers, mountain bikers and outdoor photographers.”

“It’s usually an active couple or family,” Morse said, with varied outdoor interests: “Biking, skiing, paddle boarding, surfing and the like.” Miller concurred: “Our biggest demographic is the outdoor enthusiast with a strong passion for outdoor recreation such as fishing, hunting, biking, skiing, etc.”

Despite a sometimes-steep price of entry, the segment exerts a strong appeal on younger consumers. “We get customers in their 20s, but more frequently they’re people in their 30s who’ve been working an office job for 10 years, and now they just want to travel,” said Duran Morley, founder and CEO of The Van Mart, a California-based van conversion company.

As a rule, though, the typical adventure van consumer base skews somewhat older. “We generally see a middle-aged consumer with an adventurous spirit looking to enhance their journey through travel,” said Miller. “This new category has made the journey as much fun as the destination.”

What They Buy

Overlanders have higher-than-average levels of disposable income (see “Backcountry Business Tips,” SEMA News October 2022), and players in the adventure van segment can benefit from an enthusiast customer base that’s willing to spend plenty of money to customize their vehicles to their exact liking.

“The segment’s growth is focused around accessories that improve the capability and appearance of the vans,” said Brady. “Lift kits, bumpers, racks and even snorkels abound.” Miller agreed, mentioning upgraded suspension packages, larger wheel/tire combinations, rear tire carriers, rear storage boxes, roof racks and ladders as popular items.

Morse similarly pointed to tires and wheels along with “anything battery-powered” such as cellphone boosters, and Bahr mentioned products that offer “modularity—being able to take that freezer, refrigerator or a cooktop from the inside to the outside of the van.”

Most of our experts agreed that price is secondary in importance to quality for most adventure van owners, so manufacturers of higher-end componentry can find opportunities for growth. “People are willing to pay for the quality, and they want to make sure that they have the right product for when they’re off grid,” Bahr noted. “They don’t want to be in a difficult position out in the wild.”

Adventure Vans

A multi-event series that takes place at various locations throughout the United States, Adventure Van Expo attracts hundreds of enthusiasts as well as vendors and manufacturers of outdoor lifestyle products. Photo courtesy: Adventure Van Expo

COVID and Campervans

All of our sources agreed that the outbreak of COVID-19 in 2020 turbocharged growth in the market as locked-down consumers with extra time on their hands looked for recreational opportunities away from crowded spaces. The pandemic “sent [business] through the roof!,” Morse exclaimed.

This surge in popularity has shown no signs of slowing down. Attendance at Adventure Van Expo was “double in 2021 over the previous year, and another 25% higher in 2022,” Morse said.

While COVID played a part, Brady also noted that growth “began with the availability of the AWD Mercedes Sprinter,” while adding a caveat. “As return to work has increased and financing has become more expensive, we have seen some reduction in growth. In particular, the standard van builders are seeing a reduction in order rates. However, the vans with more bespoke interiors or improved capability are still performing well.”

Social Distancing and Social Media

Adventure travelers often utilize social media to share their travel experiences with others, and our panel of experts recommended maintaining a robust social presence to optimize consumer outreach.

“People enjoy a sense of community, and they like to share within that community,” Bahr said. “We have a distinct set of users in this side of the business, where they like to share their ideas, they like to share their experiences, they like to show what they’ve done, what they’ve built and what they’re using. So engaging with that community is a really critical aspect for a brand like us.”

Future Challenges and Opportunities

While our experts were optimistic for the near-term future, some expressed concerns about a slowing economy. Morse had an eye out for the consequences of the Federal Reserve’s recent inflation-fighting measures given their affect on financing costs. “A rise in interest rates may take some players out of the van market,” he said.

Still, most of our experts agreed that the smaller Class-B platform would prove resilient in the face of competition from the bigger vehicle classes. “It’s still headed favorably in our direction,” Morse said. “We have a very economical and maneuverable platform with the diesel Sprinter. For couples, you can’t beat it. You can get into 19-ft. spaces and still have a bed, bath and shower.”

“The majority of the growth will come from the brand name offerings as they have access to the dealer networks and financing required for volume sales,” Brady said. “The most pressing challenge is chassis availability, with demand for Mercedes AWD Sprinters exceeding allocations. We need more AWD van options from companies like Nissan and RAM.”

As bigger players such as Airstream and Thor bring their own Class-B vans to market, our experts agreed that adventure vans’ public profile only figures to increase in the near term.

“The bigger players are definitely going to make an impact and actually make the industry stronger by having more visibility, driving more traffic and attention to the van market,” Bahr said, adding that “they’ll typically create a standard footprint with maybe two or three floor plans, and try to drive mass volume with that.”

“With the big RV brands starting to market vehicles into this segment, it certainly shows that stockholders are taking note,” Miller added. “As this market segment continues to grow and evolve, we will likely see interesting innovations in space management, lighter material introductions and technology improvements leading to a better consumer experience.

“The pressing challenges are in better regulation and accountability. All the rapid growth the market has seen comes with a more is better mentality which can lead to a lack in quality control. An increase in education creates an elevated experience for the end consumer.”

For the future, Morse pointed to electrification as the next big potential growth driver. “I think we need to work on E-vans sooner than later. If we get them into the 400-mi. range (fully loaded), we will see an explosion in the market.”

Bahr also noted the future movement “towards self-sustaining power, which has been massive, using solar energy to power the battery packs to then power up refrigerators, cooktops and whatever else may be within the van.

“We’re facing some economic headwinds right now, so things are kind of stabilizing a bit temporarily, but we still see a lot of growth potential in this area.”

“I also think we’ll see some of the same supply problems, be they vehicles or materials, that the industry is facing now,” Morse added. “Larger players will take bigger allocations, and the secondary market should see a bump in inventory.”

“There is already a leveling of demand and the beginning of consolidation within the segment,” Brady concluded. “This is typical, and we are watching the players closely. The economy will dictate the next shift.”