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Insurance Telematic Trends and Forecast
The future of the global insurance telematic market looks promising with opportunities in the passenger and commercial markets. The global insurance telematic market is expected to reach an estimated $7.7 billion by 2030 with a CAGR of 18.7% from 2024 to 2030. The major drivers for this market are increasing demand for this telematic among insurance & automotive sectors, growing consumer demand for high connectivity and intelligence within their vehicles, and rapid adoption of internet of things (IoT) technology among insurance telematics providers.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Insurance Telematic by Segment
The study includes a forecast for the global insurance telematic by type, offering, deployment, end use industry, and region.
Insurance Telematic Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Pay-as-You-Drive
• Pay-How-You-Drive
• Pay-as-You-Go
Insurance Telematic Market by Offering [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
Insurance Telematic Market by Deployment [Shipment Analysis by Value from 2018 to 2030]:
• On-Premise
• Cloud
Insurance Telematic Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Passenger Vehicle
• Commercial Vehicle
Insurance Telematic Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Insurance Telematic Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies insurance telematic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the insurance telematic companies profiled in this report include-
• Masternaut
• IMS
• Verizon
• TomTom International
• Sierra Wireless
• Octo
• Trimble
• Meta System
• MiX Telematics
• Agero
Insurance Telematic Market Insights
Lucintel forecasts that pay-as-you-drive is expected to witness highest growth over the forecast period due to its widespread implementation to allow insurance premiums to be paid depending on driving behavior and the level of exposure.
Passenger is expected to witness higher growth over the forecast period.
North America is expected to witness highest growth over the forecast period due to rising demand for inter connected services, availability of cloud based affordable telematics services, and presence of key players in the region.
Features of the Global Insurance Telematic Market
Market Size Estimates: Insurance telematic market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Insurance telematic market by various segments, such as by type, offering, deployment, end use industry and region in terms of($B).
Regional Analysis: Insurance telematic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, offerings, deployments, end use industries, and regions for the insurance telematic market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the insurance telematic market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the insurance telematic market size?
Answer: The global insurance telematic market is expected to reach an estimated $7.7 billion by 2030.
Q.2 What is the growth forecast for insurance telematic market?
Answer: The global insurance telematic market is expected to grow with a CAGR of 18.7% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the insurance telematic market?
Answer: The major drivers for this market are increasing demand for this telematic among insurance & automotive sectors, growing consumer demand for high connectivity and intelligence within their vehicles, and rapid adoption of internet of things (IoT) technology among insurance telematics providers.
Q4. What are the major segments for insurance telematic market?
Answer: The future of the insurance telematic market looks promising with opportunities in the passenger and commercial markets.
Q5. Who are the key insurance telematic market companies?
Answer: Some of the key insurance telematic companies are as follows:
• Masternaut
• IMS
• Verizon
• TomTom International
• Sierra Wireless
• Octo
• Trimble
• Meta System
• MiX Telematics
• Agero
Q6. Which insurance telematic market segment will be the largest in future?
Answer: Lucintel forecasts that pay-as-you-drive is expected to witness highest growth over the forecast period due to its widespread implementation to allow insurance premiums to be paid depending on driving behavior and the level of exposure.
Q7. In insurance telematic market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to rising demand for inter connected services, availability of cloud based affordable telematics services, and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the insurance telematic market by type (pay-as-you-drive, pay-how-you-drive, and pay-as-you-go), offering (hardware and software), deployment (on-premise and cloud), end use industry (passenger vehicle and commercial vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Insurance Telematic Market, Insurance Telematic Market Size, Insurance Telematic Market Growth, Insurance Telematic Market Analysis, Insurance Telematic Market Report, Insurance Telematic Market Share, Insurance Telematic Market Trends, Insurance Telematic Market Forecast, Insurance Telematic Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Insurance Telematic Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Insurance Telematic Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Insurance Telematic Market by Type
3.3.1: Pay-as-You-Drive
3.3.2: Pay-How-You-Drive
3.3.3: Pay-as-You-Go
3.4: Global Insurance Telematic Market by Offering
3.4.1: Hardware
3.4.2: Software
3.5: Global Insurance Telematic Market by Deployment
3.5.1: On-Premise
3.5.2: Cloud
3.6: Global Insurance Telematic Market by End Use Industry
3.6.1: Passenger Vehicle
3.6.2: Commercial Vehicle
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Insurance Telematic Market by Region
4.2: North American Insurance Telematic Market
4.2.2: North American Insurance Telematic Market by End Use Industry: Passenger Vehicle and Commercial Vehicle
4.3: European Insurance Telematic Market
4.3.1: European Insurance Telematic Market by Type: Pay-as-You-Drive, Pay-How-You-Drive, and Pay-as-You-Go
4.3.2: European Insurance Telematic Market by End Use Industry: Passenger Vehicle and Commercial Vehicle
4.4: APAC Insurance Telematic Market
4.4.1: APAC Insurance Telematic Market by Type: Pay-as-You-Drive, Pay-How-You-Drive, and Pay-as-You-Go
4.4.2: APAC Insurance Telematic Market by End Use Industry: Passenger Vehicle and Commercial Vehicle
4.5: ROW Insurance Telematic Market
4.5.1: ROW Insurance Telematic Market by Type: Pay-as-You-Drive, Pay-How-You-Drive, and Pay-as-You-Go
4.5.2: ROW Insurance Telematic Market by End Use Industry: Passenger Vehicle and Commercial Vehicle
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Insurance Telematic Market by Type
6.1.2: Growth Opportunities for the Global Insurance Telematic Market by Offering
6.1.3: Growth Opportunities for the Global Insurance Telematic Market by Deployment
6.1.4: Growth Opportunities for the Global Insurance Telematic Market by End Use Industry
6.1.5: Growth Opportunities for the Global Insurance Telematic Market by Region
6.2: Emerging Trends in the Global Insurance Telematic Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Insurance Telematic Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Insurance Telematic Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Masternaut
7.2: IMS
7.3: Verizon
7.4: TomTom International
7.5: Sierra Wireless
7.6: Octo
7.7: Trimble
7.8: Meta System
7.9: MiX Telematics
7.10: Agero
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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