Telematics In Insurance Industry Market 2024-2028
The telematics in insurance industry market is forecasted to grow by USD 4348.7 mn during 2023-2028, accelerating at a CAGR of 20.6% during the forecast period. The report on the telematics in insurance industry market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by cost savings due to adoption of telematics-enabled ubi, increasing growth in smartphone penetration, and government initiatives encouraging use of telematics.
Technavio's telematics in insurance industry market is segmented as below:
- By Deployment
- On-premises
- Cloud
- By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the optimized customer communication with insurance telematics as one of the prime reasons driving the telematics in insurance industry market growth during the next few years. Also, increasing number of vehicle launches featuring connected technologies and emergence of next-generation telematics protocol will lead to sizable demand in the market.
The report on the telematics in insurance industry market covers the following areas:
- Telematics In Insurance Industry Market sizing
- Telematics In Insurance Industry Market forecast
- Telematics In Insurance Industry Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading telematics in insurance industry market vendors that include Admiral Group plc, Agero Inc., Aplicom Ltd., Aviva insurance Ltd., AXA Group, Insurance and Mobility Solutions, Masternaut Ltd., Mercedes Benz Group AG, Meta System S.p.A, MiX Telematics Ltd., OCTO Telematics S.p.A, Sierra Wireless Inc., The Allstate Corp., TomTom NV, Trimble Inc., Verizon Communications Inc., and Zurich Insurance Co. Ltd.. Also, the telematics in insurance industry market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.